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In another sign that the economic recovery under President Obama is not producing gains for average Americans, median household incomes fell 1.1% in August to $50,678, according to a report released Tuesday by Sentier Research.
Since the economic recovery started in June 2009, household incomes are down 5.7%, the Sentier data show, and they are down more than 8% since Obama took office.
The average inflation-adjusted income for households in the middle 20% is now lower than it's been since 1995, the census report found.
Meanwhile, another report released Tuesday finds that per-capita health costs jumped 4.6% last year, marking a turnaround from previous years, which had seen annual cost increases moderating. The Health Care Cost Institute report found that rising prices are a "major driver" of the cost increases.
And a report from the Centers for Disease Control and Prevention released this month found that the number of uninsured climbed 1 million in the first three months of 2012 compared with last year.
Food-Stamp Nation
Other bad signs: The number of people on food stamps is up more than 220,000 in the first half of this year and up almost 12 million — or 34% — from June 2009 to June 2012.
Nothing for the Liberals here to care about....the middle class being devastated is just collateral damage to the larger Obama bombing of the entire economy!
Globalization and the outsourcing of jobs from the United States over the past two to three decades is what has decimated the middle class, not one particular 4-8 year presidential term. Try looking at the bigger picture.
Globalization and the outsourcing of jobs from the United States over the past two to three decades is what has decimated the middle class, not one particular 4-8 year presidential term. Try looking at the bigger picture.
Ummmmm....the article CLEARLY says that SINCE OBAMA TOOK OFFICE it went down 8.2%
The article CLEARLY says that SINCE OBAMA'S RECOVERY it's gone down 5.7%
So OBAMA has made it WORSE!!!
Under Bush, household wealth in real term increased $20,000+ so you saying it's been declining for decades is utter nonsense.
But, but the economy is getting so much better.....
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