Don’t blink or you’ll miss it! Ok, you were too quick on that one. There is, of course, no Obama economic boom. But you do remember those “green shoots” and then the “recovery summer”, don’t you? “Recovery bummer” is more like it.
Well, who knew that Obama’s policies are not only stifling economic growth, but that they are so bad that the 3-year long recovery is even worse than the 18 month downturn leading up to it?
Analyzing Census Bureau data, Sentier Research, LLC has determined that median household incomes fell 4.8% during the recovery but only fell 2.6% during the actual recession. In other words, Obama’s policies are so bad they had a worse effect on median household income than the actual recession did.
“Almost every group is worse off than it was three years ago [emphasis added], and some groups had very large declines in income,” [Gordon] Green, who previously directed work on the Census Bureau’s income and poverty statistics program, said in a phone interview Thursday. “We’re in an unprecedented period of economic stagnation.”
Hasn’t it been just over three years since Obama began implementing his policies… the giant deficits, the immensely wasteful “stimulus”, the massive giveaways of tax dollars to failing businesses, the attacks on business and the class warfare rhetoric, the passage of Obamacare, the push for more taxes and more economically stifling regulations? Maybe there is a relationship between Obama’s policies and the results?
The degree of economic stagnation may be unprecedented, but it is not a surprise. The surprise is that we even have any semblance of an economy remaining at all. Contrary to what the President might think, the private sector is not “doing fine”.
What’s that definition of insanity…doing the same thing over and over again and hoping for a different result? Maybe it’s time to change the leadership and our economic course….. Ya think?