Incomes Have Fallen $3,040

[Danno 1,228]

Americans’ Incomes Have Fallen $3,040 During the Obama ‘Recovery’

Americans must be wondering how much more of this “recovery” they can afford. New figures from the Census Bureau’s Current Population Survey, compiled by Sentier Research, show that the typical American household’s real (inflation-adjusted) income has actually dropped 5.7 percent during the Obama “recovery.” Using constant 2012 dollars (to adjust for inflation), the median annual income of American households was $53,718 as of June 2009, the last month of the recession. Now, after 38 months of this “recovery,” it has fallen to $50,678 — a drop of $3,040 per household.

Yet it gets worse. Amazingly, incomes have dropped even more during the “recovery” than they did during the recession. In fact, they’ve dropped more than twice as much as they did during the recession. From the start to the end of the recession, the real median income of American households fell $1,413, or 2.6 percent. From the end of the recession to the present day, it has dropped $3,040, or 5.7 percent. This begs the question: What kind of “recovery” compares unfavorably with the recession from which it’s ostensibly recovering?

Two of the groups hit hardest have been ones that turned out in abundance for Obama in 2008: black Americans and younger Americans (those between the ages of 25 and 34). During the first three years of the Obama “recovery,” the real median household income for black Americans dropped a whopping 11.1 percent. For Americans between the ages of 25 and 34 — the group most apt, as Paul Ryan put it, to be “staring up at fading Obama posters” and looking to “get going with life” — real median household income dropped 8.9 percent.

Moreover, we’re still not headed in the right direction. Last month, American households’ real median annual income fell by another $543 — from $51,221 to $50,678. Sentier’s Gordon Green, former chief of the Governments Division at the Census Bureau, says, “This latest decline in real median annual household income is indicative of a struggling economy.” He adds that, while we are “technically” in a recovery, “real median annual household income is having a difficult time maintaining its present level, much less ‘recovering.’”

Similarly, the percentage of Americans who are employed has dropped during the Obama “recovery” — from 59.4 percent during the final month of the recession to just 58.3 percent last month. That’s according to the Obama administration’s own figures.

So, to recap, compared to the last month of the recession (in June 2009), the percentage of Americans who are employed has dropped 1.1 points, and typical Americans’ real annual household income has dropped $3,040. Who knew how good we had it back in the glory days of the Great Recession?

No wonder Obama says he’s running for reelection because he wants to realize “the future we imagined in 2008.” He can’t very well run on the reality we’re experiencing in 2012.

http://www.weeklystandard.com/blogs/americans-incomes-have-fallen-3040-during-obama-recovery_653116.html

[JohnR! 5,495]

Americans' Incomes Have Fallen $3,040 During the Obama 'Recovery'

Americans must be wondering how much more of this "recovery" they can afford.

Recovery from what? We all know that everything was perfectly in order when Obama was took office... Whatever for, pray, would we need any 'recovery'?

[Mr. Big Dog 10,747]

Must be 47% dragging the nation down. You know, the useless, the victims that won't take responsibility for their lives.

Being part of the 53%, my income is up 25% since the recession ended. Does Obama get credit for that or does he only get blamed for those that fail?

[Danno 1,228]

Must be 47% dragging the nation down. You know, the useless, the victims that won't take responsibility for their lives.

Being part of the 53%, my income is up 25% since the recession ended. Does Obama get credit for that or does he only get blamed for those that fail?

What you can't argue the facts you can always throw out isolated details to distract.

Deal with the numbers concerning the post.

[Mr. Big Dog 10,747]

What you can't argue the facts you can always throw out isolated details to distract.

Deal with the numbers concerning the post.

I thought we build our success all on our own? Is that not the case?

[Danno 1,228]

I thought we build our success all on our own? Is that not the case?

We do, naturally the Gov't can confiscate lots of it and destroy the atmosphere for business, Exhibit A:

[JohnR! 5,495]

I thought we build our success all on our own? Is that not the case?

Yes but only when you are successful. If you're a bad businessman it's all the government's fault....

[Mr. Big Dog 10,747]

We do, naturally the Gov't can confiscate lots of it and destroy the atmosphere for business, Exhibit A:

I pay no more in taxes today than I did in 2009 despite having a higher income. What confiscation are you talking about? Have you looked at corporate profits? They're doing even better than I do. Record high profits are a bad atmosphere for business?

[Danno 1,228]

I pay no more in taxes today than I did in 2009 despite having a higher income. What confiscation are you talking about? Have you looked at corporate profits? They're doing even better than I do. Record high profits are a bad atmosphere for business?

Take note, I said Gov't "can" confiscate money and set policy which destroys the business environment,

So far Obama has one base covered.

[JohnR! 5,495]

Take note, I said Gov't "can" confiscate money

It is called 'taxation'....

[Danno 1,228]

It is called 'taxation'....

Wow, you are impressing everyone.

Q: Can the rate be too high?

[Mr. Big Dog 10,747]

Take note, I said Gov't "can" confiscate money and set policy which destroys the business environment,

So far Obama has one base covered.

The Business confidence index stood at just over 35 points when Obama took office. It went all the way up to 60 points before leveling off to 50 points over the last three months which I suspect has something to do with the fiscal cliff being upon us and the broader global economic situation - China losing steam, Europe having an ongoing crisis, stuff like that. I suppose the President is solely responsible for all that, too.

[JohnR! 5,495]

1348861613[/url]' post='5723319']

Wow, you are impressing everyone.

Q: Can the rate be too high?

Thanks!

The rates can be high or low, it all depends on income, deductions, tax brackets and a series of other factors.

Edited September 28, 2012 by Gegel

[Mr. Big Dog 10,747]

The rates can be high or low, it all depends on income, deductions, tax brackets and a series of other factors.

Yes, rates can be too high or too low. Just like trees. They can be too high or too low. Except in Michigan. There the trees are just the right height.

Edited September 28, 2012 by Mr. Big Dog

[The Nature Boy 4,224]

Recovery from what? We all know that everything was perfectly in order when Obama was took office... Whatever for, pray, would we need any 'recovery'?

Four years later and all you libs have for us is still "bush's fault" sad