Obamanomics: American Standard Of Living Drops

Maybe this is what Obama mean by Hope and Change? Or, perhaps, when he was talking about this being the time that the sea rise started to slow it was actually a metaphor for the American standard of living

Think life is not as good as it used to be, at least in terms of your wallet? You’d be right about that. The standard of living for Americans has fallen longer and more steeply over the past three years than at any time since the US government began recording it five decades ago.

Bottom line: The average individual now has $1,315 less in disposable income than he or she did three years ago at the onset of the Great Recession — even though the recession ended, technically speaking, in mid-2009. That means less money to spend at the spa or the movies, less for vacations, new carpeting for the house, or dinner at a restaurant.

Who was in charge of the government during that time? Except for taking over the House 10 months ago, it has been all Democrats. Their horrible policies have kept the economy from regaining any strength.

What has led to the most dramatic drop in the US standard of living since at least 1960? One factor is stagnant incomes: Real median income is down 9.8 percent since the start of the recession through this June, according to Sentier Research in Annapolis, Md., citing census bureau data. Another is falling net worth — think about the value of your home and, if you have one, your retirement portfolio. A third is rising consumer prices, with inflation eroding people’s buying power by 3.25 percent since mid-2008.

Unless you work for the government, where your income has soared. Remember the days when being a government employee was a thankless task where you would not get rich? No more. But, if you are a typical private sector worker, or a senior citizen, you are basically screwed. Obama and the Democrats continue to pursue the same failed Keynesian economic policies that took America to this point. The original Stimulus, almost one trillion dollars, failed to do anything for the middle class. The follow up legislation did nothing. The Obamacare boondoggle has hurt more than helped. And Obama is running around pushing his newest “jobs” bill which will hire/retain hundreds of thousands of, yup! government workers in the form of teachers and first responders. Oh, there’ll be a few temporary jobs for those of you who know how to patch pavement and re-re-paint bridges. Then you’re back on unemployment yet again.

Crossed at Pirate’s Cove. Follow me on Twitter @WilliamTeach. Please sign the drill now petition.

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