easyt65
Diamond Member
- Aug 4, 2015
- 90,307
- 61,088
- 2,645
'How many times has President Obama told us that he is “fighting for the middle class”? But real median family income has been in a continuous downward spiral since he became President, actually falling more since the recession ended in the summer of 2009 according to the National Bureau of Economic Research than during the recession. That has added up by now to the middle class losing a month’s pay a year under President Obama’s economic policies.
Inequality is measured by a statistic called the “Gini Index,” named after an Italian statistician who first wrote about measuring inequality in 1912. The Gini Index for the U.S. is officially published by the Census Bureau. The Index as published by the Census shows inequality sharply accelerating under President Obama, in contrast to greater stability under President Bush.
This follows automatically from the discussion above, with real incomes of the middle class and the poor declining under Obama. In fact, real incomes of the entire bottom 80% have been declining consistently under Obama, because of his poor record of generating economic growth, and any normal recovery from the 2008-2009 recession. Only the incomes of the top 20% have been rising under Obama, as the Fed’s loose monetary policies have juiced the stock market and corporate profits.
This has to be considered a disgrace, that Obama carries on publicly about rising inequality and how that is so important, yet inequality has been precisely accelerating under his own, consistently anti-growth, economic policies, which are precisely crippling the poor and the middle class. But no more of a disgrace than his record on unemployment, which reflects that it has been precisely his own, strongest supporters, particularly blacks, Hispanics, the young, and women, who have suffered the most under Obama’s failed policies.
For President Obama’s entire time in office, 5 years now, blacks have suffered unemployment well into double digits. (Despite his claim of around 5% Un-Employment, based on the choice to ignore over 96 MILLION Americans out of work when doing the 'Unemployment Numbers' calculations...) With “Latino unemployment close behind,” as Obama himself also lamented in his Martin Luther King 50th Anniversary speech last August. Yes, the economy was in recession when President Obama entered office. But under every other President in U.S. history, for well over a century at least, the economy was in a booming recovery within 5 years, even under Franklin Roosevelt during the Great Depression!
.
.
.
Obama has also been the food stamp President, with the number on food stamps increasing during his Administration to an all-time record high of 47.7 million, up 80% over the past 5 years. Contrast that with the Clinton-Gingrich 1996 reform of the old, New Deal, Aid to Families with Dependent Children (AFDC) program. Under those reforms, the number dependent on the old AFDC program declined by two-thirds. Their incomes from going to work instead were documented to increase by 25%, while saving taxpayers 50% of the cost of old AFDC, compared to prior trends. But today’s “progressive,” Obama/Che Guevara Democrats are not the Kennedy/Clinton Democrats of yore.'
-- Sorry, Liberals don't like the term 'Food Stamps'...sounds too much like a 'tax-payer-funded government provided service to struggling citizens' program...so' we'll say instead that Obama has been the 'SNAP President'...
** Barack Obama's Presidency Is A Complete Failure By His Own, Self-Imposed Standards
Inequality is measured by a statistic called the “Gini Index,” named after an Italian statistician who first wrote about measuring inequality in 1912. The Gini Index for the U.S. is officially published by the Census Bureau. The Index as published by the Census shows inequality sharply accelerating under President Obama, in contrast to greater stability under President Bush.
This follows automatically from the discussion above, with real incomes of the middle class and the poor declining under Obama. In fact, real incomes of the entire bottom 80% have been declining consistently under Obama, because of his poor record of generating economic growth, and any normal recovery from the 2008-2009 recession. Only the incomes of the top 20% have been rising under Obama, as the Fed’s loose monetary policies have juiced the stock market and corporate profits.
This has to be considered a disgrace, that Obama carries on publicly about rising inequality and how that is so important, yet inequality has been precisely accelerating under his own, consistently anti-growth, economic policies, which are precisely crippling the poor and the middle class. But no more of a disgrace than his record on unemployment, which reflects that it has been precisely his own, strongest supporters, particularly blacks, Hispanics, the young, and women, who have suffered the most under Obama’s failed policies.
For President Obama’s entire time in office, 5 years now, blacks have suffered unemployment well into double digits. (Despite his claim of around 5% Un-Employment, based on the choice to ignore over 96 MILLION Americans out of work when doing the 'Unemployment Numbers' calculations...) With “Latino unemployment close behind,” as Obama himself also lamented in his Martin Luther King 50th Anniversary speech last August. Yes, the economy was in recession when President Obama entered office. But under every other President in U.S. history, for well over a century at least, the economy was in a booming recovery within 5 years, even under Franklin Roosevelt during the Great Depression!
.
.
.
Obama has also been the food stamp President, with the number on food stamps increasing during his Administration to an all-time record high of 47.7 million, up 80% over the past 5 years. Contrast that with the Clinton-Gingrich 1996 reform of the old, New Deal, Aid to Families with Dependent Children (AFDC) program. Under those reforms, the number dependent on the old AFDC program declined by two-thirds. Their incomes from going to work instead were documented to increase by 25%, while saving taxpayers 50% of the cost of old AFDC, compared to prior trends. But today’s “progressive,” Obama/Che Guevara Democrats are not the Kennedy/Clinton Democrats of yore.'
-- Sorry, Liberals don't like the term 'Food Stamps'...sounds too much like a 'tax-payer-funded government provided service to struggling citizens' program...so' we'll say instead that Obama has been the 'SNAP President'...
** Barack Obama's Presidency Is A Complete Failure By His Own, Self-Imposed Standards
Last edited:
