Us incomes drop the most in 20 years

[Wehrwolfen]

by Jim Hoft
March 1, 2013


Thanks Barack.



US income plunged 3.6 percent in January – its biggest drop in 20 years.

The Chicago Tribune reported:


U.S. consumer spending rose in January as Americans spent more on services, with savings providing a cushion after income recorded its biggest drop in 20 years.

Income tumbled 3.6 percent, the largest drop since January 1993. Part of the decline was payback for a 2.6 percent surge in December as businesses, anxious about higher taxes, rushed to pay dividends and bonuses before the new year.

A portion of the drop in January also reflected the tax hikes. The income at the disposal of households after inflation and taxes plunged a 4.0 percent in January after advancing 2.7 percent in December.

The Commerce Department said on Friday consumer spending increased 0.2 percent in January after a revised 0.1 percent rise the prior month. Spending had previously been estimated to have increased 0.2 percent in December.


Read more at:
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[Mr. Peepers]

You can blame the private sector for that, and only the private sector. CEO and executive pay hasn't dropped, has it? Nope, only the wage slaves feel the burn in 'Murika.

 

[DiamondDave]

So when you and your ilk were blaming BUSH.. you were lying.. got it, Peepers

 

[Mr. Peepers]

The recession happened on Bush's watch and because of the myth that is trickle down. 2.3 million jobs left this country for China from 2000 to 2003 alone. Nice try, Dave. You may want to just face the truth at some point.

 

[Mr. Peepers]

CEO and executive pay hasn't dropped. Why have only the wage slaves lost income? WHY???
Love how no RW'ers will ever touch that question.

 

[RandallFlagg]

The recession happened on Bush's watch and because of the myth that is trickle down. 2.3 million jobs left this country for China from 2000 to 2003 alone. Nice try, Dave. You may want to just face the truth at some point.

OK....So, in the last 4 years - nearly 5 now, your boy has done nothing to help. But that's not his job, right? His job is simply to "rule" - right?


When are you slugs going to stop making excuses for this clown?

 

[Mr. Peepers]

OK....So, in the last 4 years - nearly 5 now, your boy has done nothing to help. But that's not his job, right? His job is simply to "rule" - right?

When he came into office, we were losing 750K jobs A MONTH. There is now slow, but steady job growth (though the private sector is still doing all it can to drive wages down further). I'd say that's a step in the right direction. However, as long as we have the obscene inequality in pay scales, nothing will ever really get better.

 

[Wehrwolfen]

However it was the Home Mortgage bubble burst that caused the banks to fail in 2008 thanks to Barney Frank and company.
Layoff's came after Oblamer was elected and haven't really slowed yet. GE and GM have both shipped jobs to china, along with Caterpillar, and Chrysler. Please tell us this isn't nad hasn't happened under Oblamer? Please.

 

[DiamondDave]

CEO and executive pay hasn't dropped. Why have only the wage slaves lost income? WHY???
Love how no RW'ers will ever touch that question.

More unskilled people... more technology advances eliminating the need for different jobs.. consolidation of workforce in down economies.. many MANY reason...

But as shown.. you will blame Bush, but give Obamalama a free pass on the same exact shit... you sir (and I use that term loosely) as about as hypocritical of a hyper-partisan fool as you can get

 

[Nole]

this is the negative impact of the grand experiment called Trickle down economics and a global economy. See, its very simple. The rich were able to not only pay a heck of a lot less taxes which is not such a bad thing however, the rich also kept getting richer, and richer and richer.

Then one day, on Make Believe Magic world of the Republican party decided to just allow the middle class to fend for them selves, which again sounds real tough Cowboy talk from the right. All the while the rich watched profits go over seas in a global market while hard working Americas paid the price at home.

So you see. Maybe we should not let the GOP ever, ever dictate the direction of our economy ever again. The writing is on the wall. but a lot of you have your Obama haterized glasses on. So have fun with that.

 

[Mr. Peepers]

However it was the Home Mortgage bubble burst that caused the banks to fail in 2008 thanks to Barney Frank and company.

No, that's not what caused the bubble to burst. The banksters were behind the worst of that.

Layoff's came after Oblamer was elected and haven't really slowed yet.

Not even remotely true. Do you know how to read & / or use google?

GE and GM have both shipped jobs to china, along with Caterpillar, and Chrysler.

And they should be punished for this. And we should take away tax incentives given to companies that do this.

Please tell us this isn't nad hasn't happened under Oblamer? Please.

This does not appear to be English...

 

[Mr. Peepers]

But as shown.. you will blame Bush, but give Obamalama a free pass on the same exact shit... you sir (and I use that term loosely) as about as hypocritical of a hyper-partisan fool as you can get

The Bush administration has much fault, but so do Reagan and Clinton. I never blamed Bush. I said the collapse happened under his administration, which it did. But I expect not an ounce of reading comprehension from you. And when did I give Obama a free pass? A free pass on what - I've never given him a free pass on anything? There's a lot I don't like about the way he does things, but you do have to admit that things are better than they were in 2008, job market wise. That is a fact, but don't let those get in your way.

 

[Mr. Peepers]

More unskilled people... more technology advances eliminating the need for different jobs.. consolidation of workforce in down economies.. many MANY reason...

But as shown.. you will blame Bush, but give Obamalama a free pass on the same exact shit... you sir (and I use that term loosely) as about as hypocritical of a hyper-partisan fool as you can get

And I didn't blame Bush. I blamed the greed of the private sector and the trickle down myth. Jeezus...
And what you typed are excuses and you know it. Unskilled labor? Seriously?

 

[RandallFlagg]

OK....So, in the last 4 years - nearly 5 now, your boy has done nothing to help. But that's not his job, right? His job is simply to "rule" - right?

When he came into office, we were losing 750K jobs A MONTH. There is now slow, but steady job growth (though the private sector is still doing all it can to drive wages down further). I'd say that's a step in the right direction. However, as long as we have the obscene inequality in pay scales, nothing will ever really get better.

So let me get this straight....Got to make sure I understand your "logic" here. Because we fell into a recession in 2008, and the "bubble" burst (As it was destined to do, thanks to you Democrats) it is fine that your boy has sat on his butt for the last 5 years and done NOTHING. And it's the 'rich" guy's fault.

You need to slow down on the communist Kool-aid sonny.

There was a nasty economy when Bill Clinton took office. Did he sit on his fat ass and blame those who were successful?? Nope, he rolled up his sleeves, worked with business and started up the economic engines.

Your boy goes on vacation.

 

[Katzndogz]

Disposable income has dropped because taxes have gone up. Don't expect a liberal to understand that though.

Democrats have magic words "The rich are taking your money" and democrats fully expect that when they make the magic chant, eyes will glaze over, the brain will shut off and the people will chant "the rich have taken my money" right on cue.

 

[bripat9643]

You can blame the private sector for that, and only the private sector. CEO and executive pay hasn't dropped, has it? Nope, only the wage slaves feel the burn in 'Murika.

How do you figure it's the fault of the private sector? Didn't your messiah claim he was going to fix this? If any economic number is positive, he takes the credit. If any number is negative, it's George Bushes fault or the private sector's fault. When are the voters going to get wise to these con artists?

 

[DiamondDave]

this is the negative impact of the grand experiment called Trickle down economics and a global economy. See, its very simple. The rich were able to not only pay a heck of a lot less taxes which is not such a bad thing however, the rich also kept getting richer, and richer and richer.

Then one day, on Make Believe Magic world of the Republican party decided to just allow the middle class to fend for them selves, which again sounds real tough Cowboy talk from the right. All the while the rich watched profits go over seas in a global market while hard working Americas paid the price at home.

So you see. Maybe we should not let the GOP ever, ever dictate the direction of our economy ever again. The writing is on the wall. but a lot of you have your Obama haterized glasses on. So have fun with that.

Because heaven forbid someone else is ever successful or gaining while you are not!!! Even when nearly half the population pays no federal income tax and the 'evil rich' are now paying even more...



Oh.. and BTW, everyone should fend for themselves... comes with a little thing called freedom

 

[bripat9643]

CEO and executive pay hasn't dropped. Why have only the wage slaves lost income? WHY???
Love how no RW'ers will ever touch that question.

CEO and executive pay is 1/10th of 1% of the economy. Government, on the other hand, is more than 50% of the economy. Which, do you suppose, is more likely to the cause?

 

[Mr. Peepers]

Because heaven forbid someone else is ever successful or gaining while you are not!!! Even when nearly half the population pays no federal income tax and the 'evil rich' are now paying even more...

Well, the problem with this is that they told the American workers the wealth would "trickle down". How else would you get the American people to go along with that little con game? Know what happened? It didn't trickle down. It stayed at the top. Americans are working harder, longer hours for less and less - and have been for at least a decade. The American people bought the lie and now are onto the "job creators".

 

[Mr. Peepers]

CEO and executive pay is 1/10th of 1% of the economy. Government, on the other hand, is more than 50% of the economy. Which, do you suppose, is more likely to the cause?

CEO's are now paid up to 400x that of their front line workers. THAT is the problem. The myth of trickle down in all its glory...