Obamanomics: Americans’ Take Home Pay Declined in January & February 2012
Thanks Barack Obama … American take home pay declining as gas prices are rising. Add this to the other poor economic indicators under Barack Obama and one has to wonder how this race is as close as it is. Voters in November will be asking themselves if they are better off today than they were four years ago. If people are honest, Obama will be sent packing.
Americans’ take-home pay — one of the critical economic benchmarks for presidents seeking reelection — declined in January and February.
Research shows that the amount of money Americans earn after taxes and inflation is one of the most reliable predictors of a president’s November chances — more so than the unemployment rate. In the past year, most Americans have barely seen a bump in earnings, according to the Bureau of Economic Analysis.
But the figures for the past two months create the potential for an even more dire situation for the White House: Wages increased at a slower rate than energy prices, so the measure known as disposable personal income dropped. With take-home pay effectively falling 0.2 percent and 0.1 percent in January and February, respectively. If take-home pay continues to fall, as it has for the first two months of the year, President Barack Obama would be lucky to get 45 percent of the vote, according to a model developed by former Harvard University professor Douglas Hibbs.
Posted August 26, 2012 by Scared Monkeys
2012 Elections, Barack Obama, Economy, Epic Fail, Jobs, Presidential Election, Recession | 7 comments
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7 Responses to “Obamanomics: Americans’ Take Home Pay Declined in January & February 2012”
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As I recall, American temperature averages fell in Jan and Feb 2012.
That darn Obama, how can he do this to us?
At least no one is accusing him of murder and being a felon.
Obama said he should serve only one term
If the numbers were the other direction Obama would be taking credit for them. Sorry if this news does not fit your narrative.
RE: “???” – Exactly!! A correlation is not a causation. Obama is not responsible for temperature changes, and just as he possibly might not be accountable for average take-home pay. At least, I’ve not heard of any rationale that explains that scenario.
Unless the world is a simple place, one seemingly has to consider that take-home pay for the labor force (as a whole) has any number of factors, being that it is made up of many separate decisions by companies, employers and employees (just as a start). New hires at lower wages combined with retirees at higher wages would produce a arithmetical drop in average take-home pay; yet these are typical and predictable events. There must be hundreds, if not thousands, of additional factors involved in take-home pay.
Now, I don’t deny the stats exist as presented; I just wonder if there is a single factor, or clear accountability for such an aggregate value in our complex economy.
Oh yeah, about gas prices. Selective price quoting can produce a variety of superficially interesting but possibly meaningless facts. Just looking at prices today as compared to 4 years ago shows parity, give or take a few cents.
SM: Then lets go by the facts, Obama said he would fix the US economy or he would be a one term President. Obama has not fixed the economy, therefore, he should not be reelected.
However, to your point none of Obama’s fixes have worked, they have all failed. Therefore you cannot increase the debt by over $800 billion and not get any change in the economy or jobs. You make it sound like its all out of Obama’s hands. Sorry, it is not. However, Obama being a big government socialist has no idea what business is or how to create jobs. It is not a gov’t job to make jobs, it is there role to create an environment that is favorable for job growth.
All Obama has done is provide uncertainty whether it be Obamacare or taxes.
What would one expect from a man who has never had a job, owned a business, ran a business and who’s mentor was a Communist.
If payrolls have fallen during the last two months, it doesn’t begin to address the real buying power that is being made less because of inflation. The government printing press is no friend of the people.
#2-SM : Umm, What about the specific topic of “take-home pay” that this article is about? After all, you were the one who began this discussion.
Or perhaps Gas Prices?
SM: Like it or not, fair or not, the President takes credit or gets blamed for all things the economy including take home pay. The poor economy and piss poor job growth is a direct result of the lowering of take home pay.
As for gas prices, yes, Obama refuses to allow drilling of oil, natural gas and he is “all in” on failed green energy. The United States should be making itself energy independent, not backing Solyndra-like companies.
Maybe Barack can release the oil in the national reserve to ease the gas prices, yea that’s the answer.
Sorry, Obama has no energy plan. Let me rephrase, his energy plan is make the US, Brazil’s best oil customer and to throw away tax $’s on failed green energy. Oh yea, and destroy the coal industry.
But for the LIBS, Obama is responsible for nothing. If that is the case, doesn’t he have another vacation coming? In November, WE THE PEOPLE will send him on a permanent vacation.
#3 – And what level of inflation are you talking about?
#4-SM: If Obama or any Pres is so all powerful, then I don’t get the big deal on Obamacare.
The big talking point was the complete Gov take-over of health-care, the so-called 16% of our economy. But you already believe (seriously, which I still haven’t entirely come to grips with) he already has full control of the economy.
Hypothetically speaking, anyone who held both these opposing beliefs could find themselves in a state commonly known as cognitive dissonance.
Logically speaking then, this could imply that Obama really did build it. (humor, BTW)
SM: Sadly Obama did not build it, he has tried to do everything in his power to destroy it. I do not believe Obama is stupid, I think the destruction of the American economy to create an entire nation of dependency is exactly what he was after in the first place.
He does not believe America should lead.
Like i stated, he did not build it, he destroyed it.
All that fuss over my little joke – oh my!