Obamanomics is Crushing America … Typical US Household Getting Poorer, Worth One-Third Less Than GWB

Thank you Barack Obama and Obamanomics, sarcasm intended  …

President Barack Obama likes to play class warfare and talk about the income divide. However, under Barack Obama the income divide has got worse and American households are getting poorer. According to a recent study by the Russell Sage Foundation, the NY Times reports that the inflation-adjusted net worth for the typical household was $87,992 in 2003, but ten years later, it was only $56,335, or a 36% decline.

Median Household net worth_2003-2013

Image Source: Russell Sage Foundation

Economic inequality in the United States has been receiving a lot of attention. But it’s not merely an issue of the rich getting richer. The typical American household has been getting poorer, too.

The inflation-adjusted net worth for the typical household was $87,992 in 2003. Ten years later, it was only $56,335, or a 36 percent decline, according to a study financed by the Russell Sage Foundation. Those are the figures for a household at the median point in the wealth distribution — the level at which there are an equal number of households whose worth is higher and lower. But during the same period, the net worth of wealthy households increased substantially.

The Russell Sage study also examined net worth at the 95th percentile. (For households at that level, 94 percent of the population had less wealth and 4 percent had more.) It found that for this well-do-do slice of the population, household net worth increased 14 percent over the same 10 years. Other research, by economists like Edward Wolff at New York University, has shown even greater gains in wealth for the richest 1 percent of households..

Obama_Failure

The Gateway Pundit reminds us of the following, “It should come as no surprise then that Republicans overwhelmingly represent the middle class districts by almost a two-to-one ratio.”

UPDATE I: Sadly the delusional LEFT holds Barack Obama accountable for nothing and it is all George W. Bush’s fault. But then again, what has changed. The Obama blame everybody else crowd but Obama arguments are old and tired. Six years into the Obama presidency and some how the median net worth in 2013 is W’s fault, not Obama’s. Some how the LEFT can justify it was Bush’s fault but not Obama’s as well. Real consistent folks. Rather than worrying whether others read an article you might might to pay more attention to using common logic.

The lame LEFT seem to discount the following, but of course this is all W’s fault as well:

 

Sean Hannity Blasts President Barack Obama in Blistering Monologue … ‘It’s Time for a Wake-Up Call’ … “It Is Time for You to Get Engaged.”

BARACK OBAMA, ITS TIME TO LEAD, NOT DIVIDE …

Last night Sean Hannity blasted Barack Obama in a blistering monologue begging, asking and demanding that this president ‘WAKE UP” and get engaged in the turmoil in both domestic and foreign policy. Much of which Obama has no one to blame but himself. Although he will try and pass the buck. It is becoming evident that Obama is the “Bystander” in Chief and refuses to step up to the plate and lead. But instead Obama attends fundraisers, plays golf and goes on vacation to Martha’s Vineyard.

Hannity stated that our world is in an alarming state of emergency, between Israel’s ground war into Gaza to protect itself from Hamas, Malaysia flight ML17 blown out of the sky in an unspeakable act killing innocent men, women and children, ISIS on the rise, Al-Qaeda on the move, the Middle East on fire, Russia and Putin flexing its muscles, Obama administration scandals like IRS-gate and Benghazi-gate, and a US domestic policy of out of control national debt and a discouraged work force. Let us not forget the crisis we have on our Southern border caused by Obama’s lack of protecting or borders. Then there is that Obamacare thing.

Hannity said, “It is shocking to see a president of the United States, the free world, with such a lack of urgency and priorities. So I say to the president tonight: It is time for action, it’s time for urgency. It is time for you to get engaged.” Hannity went on to say, “Mr. President for you to stand up. It is time for you to lead. It’s time to skip for once your lavish million dollar Marha’s Vineyard vacation. It’s time for you to put down those golf clubs. I thing 180 rounds of gold is quite enough. It is time for you to lead by example. [...] You need to spend more time in The Oval Office. You need to be in the Situation Room. You may be surprised to learn what has actually happened in the six years since you have become the leader of the free world.”

Hannity_screen Grab_mono

Click HERE to watch VIDEO

The Blaze:

“It is shocking to see a president of the United States, the free world, with such a lack of urgency and priorities,” Hannity said. “So I say to the president tonight: It is time for action, it’s time for urgency. It is time for you to get engaged.”

Hannity then skewered the president over his handling of domestic matters.

“Mr. President, why don’t you consider the events of these past 24 hours to be a very, very costly and deadly wake up call,” Hannity said. “And while all this was happening yesterday, you spent 40 seconds dealing with the killing of nearly 300 innocent people and for your secretary of state to tell Israel to restrain itself again and again. It’s time for a wakeup call.

Virginia Democrat Rep. James P. Moran Says “The American People Should Know that the Members of Congress are Underpaid” at $174,000

These politicians are so out of touch with the American people and what is going on in the real world that they need to be fired and sent back to it …

US Rep. James Moran (VA-D) told CQ Roll Call that, “I think the American people should know that the members of Congress are underpaid.” Moran went on to say that with their $172,000 a year salary, many in Congress cannot “afford to live decently in Washington”. UNDERPAID, ARE YOU KIDDING ME!!!  Are we supposed to feel pity for these hacks who have pretty much forgot the reason why they are even in Washington, DC? As Weasel Zippers opines, “So he makes $3,300 per week and we’re supposed to feel bad for him?”

It is the Democrat party mindset where these fools think they should get raises for doing nothing, except things that are detrimental to America and Americans.

WTF

Virginia Democrat James P. Moran said he plans to highlight the injustice by introducing an amendment to the Legislative Branch bill during its full committee markup, and at floor consideration of the bill. Moran made the comments while the bill that funds member’s $174,000 salaries was being marked up in the Legislative Branch subcommittee.

“I think the American people should know that the members of Congress are underpaid,” Moran told CQ Roll Call. “I understand that it’s widely felt that they underperform, but the fact is that this is the board of directors for the largest economic entity in the world.

“Our pay has been frozen for three years and we’re planning on freezing it a fourth year. … A lot of members can’t even afford to live decently in Washington,” he said.

This Moron Moran is complaining about having their pay frozen … welcome to the economic world that you, Barack Obama and the rest of the Democrats have created in a jobless recovery. This is just one of the reasons why the people give Congress such a low approval rating. Most politicians have forgot who they work for. With the work product they have put forward, had they been in the real world, individual like Moran would have been fired.

I have a better idea Mr. Moran, go get a real job!!! You were not sent to DC to get rich. If you do not like the pay, then resign from office and go find a job like the rest of America has to in this Obama jobless America. Personally, I think their pay should be cut in half and they should only be in Washington if they have to.They should be made to work the rest of the time in the private sector to deal with the garbage laws they pass.

Fox News Poll: Barack Obama Hits All-Time Low Job Approval at 38%, 54% Disapprove … Only 33% Believe Obama has Improved America’s Image around the World

Barack Obama’s 38% job approval is well deserved, he did it the old-fashioned way … HE EARNED IT!!!

Can you say ‘EPIC FAILURE’ and it would appear the American people may finally be fed up with Obama’s disastrous presidency. According to the most recent Fox News poll, President Barack Obama has hit an all-time low in his job approval, as an anemic 38% approve of the job he is doing while a whopping 54% disapprove. But wait, a look inside the numbers and the news gets even worse for Obama and Democrats. Obama’s numbers on healthcare, the economy and foreign policy are abysmal.

Just how many Democrats are going to want this president near him during the 2014 elections?

Obama_Pout

For the first time in a Fox News poll, fewer than four voters in ten — 38 percent — approve of President Obama’s job performance. Fifty-four percent disapprove. Before now Obama’s worst job rating was 40-55 percent in November 2013. Last month 42 percent approved and 53 percent disapproved (February 2014).

Approval of Obama among Democrats stands at 71 percent, near its 69 percent record low (September 2013). For independents, 28 percent approve, which is also near the 25 percent all-time low among this group (July 2013). And approval of Obama among Republicans hits a new low of five percent.

Full poll results can be read HERE.

Most all of Obama’s poll numbers are now in the 30′s. Across the board whether it be domestic or foreign policy, Obama has failed. Now we can only hope America can survive another 3 years with this president.

  • Healthcare:  36% Approve -  59% Disapprove
  • Economy: 36% Approve -  58% Disapprove
  • Foreign Policy: 33% Approve – 56% Disapprove
  • Do you think the country is better off than it was five years ago, or not?  34% Yes -  60% No – 5% the Same

Wait, let’s try to find some good news for Obama and his lockstep Democrats in their poll. Oh sorry, there is none. On items that Americans were asked as to whether Barack Obama mostly succeeded or Mostly failed, Obama got an “F”. What happened to that president who said that he would make America respected once again in the world?

  • Making the country safer: 41% Mostly Succeeded – 48% Mostly Failed (In Oct. 2012 Obama’s poll numbers were  52% – 38%)
  • Improving health care: 36% Mostly Succeeded – 57% Mostly Failed
  • Creating new jobs: 33% Mostly Succeeded – 59% Mostly Failed
  • Improving America’s image around the world:  33% Mostly Succeeded – 59% Mostly Failed

Real Clear Politics Barack Obama average job approval polling.

Another Abysmal Jobs Report … Only 113,000 jobs Created in January 2014 … Unemployment Rate Down to 6.7%

Obamacare, Obamanomics and Barack Obama’s disastrous redistribution policies continue to create uncertainty and poor jobs reports …

January’s Jobs report shows that a meager 113,000 jobs were created, falling far below forecasters’ predictions of 185,000 new jobs. How are jobs supposed to be created in an environment where Barack Obama and his minions cause uncertainty and pass so many regulations on business that it makes it impossible? According to how the administration talks about Obamacare, no one has to work anymore, they got their Obamacare and subsidies.

Obama_Pelosi_Reed

Our plan is working perfectly to transform America into a third world country

The U.S. economy added just 113,000 jobs in January, a small improvement over December’s disappointing report but not nearly enough to signal a much-needed rebound in the increasingly unpredictable U.S. labor market.

The number of jobs created fell well below forecasters’ predictions of 185,000 new jobs.

The headline unemployment rate was 6.6%, according to figures released by the U.S. Labor Department, down from 6.7% in the prior month.

From CNBC: Stocks Fall on poor jobs report.

U.S. stock-index futures turned higher, reversing course on losses that came in the immediate aftermath of the January jobs report, with fewer Americans finding work in January than estimated, but the unemployment rate fell.

“Mitigating some of these negatives is the unemployment rate ticked a bit lower and the labor participation rate ticked up. Both of those are good things,” said Chris Gaffney, senior market strategist at EverBank.

The government reported the creation of 113,000 jobs in January versus expectations of 185,000. The jobless rate fell to 6.6 percent versus an expectation of 6.7 percent.

 DOL: THE EMPLOYMENT SITUATION — JANUARY 2014 -

Among the major worker groups, the unemployment rates for adult men (6.2 percent), adult
women (5.9 percent), teenagers (20.7 percent), whites (5.7 percent), blacks (12.1 percent),
and Hispanics (8.4 percent) showed little change in January. The jobless rate for Asians
was 4.8 percent (not seasonally adjusted), down by 1.7 percentage points over the year.
(See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks or more), at 3.6 million,
declined by 232,000 in January. These individuals accounted for 35.8 percent of the
unemployed. The number of long-term unemployed has declined by 1.1 million over the year.
(See table A-12.)

Check out what the REAL Unemployment rate looks like.

Unemployment_REAL_rates

Tea Party Response to Obama’s SOTU from Sen. Mike Lee (R-UT) … Calls Obamacare an “Inequality Godzilla.” that Has Robbed Americans of Their Insurance, Doctore, Wages and Jobs

I hate to say we told you so America, but we told you so …

Sen. Mike Lee (R-UT) provided the Tea Party response to President Barack Obama’s State of the Union address blamed big Democrat, progressive, liberal government for the problems that Americans face and no greater example of out of control, over-reaching, over-spending and over-stated than the presidents signature piece of legislation, Obamacare. Lee referred to Obamacare as an “Inequality Godzilla, that has robbed working families of their insurance, their doctors, their wages and their jobs.” Kudos to Senator Lee for also placing blame at the hands of establishment Republicans as well for the problems we face as he stated, “they can be just as out-of-touch as the Democratic Establishment.”

“This inequality crisis presents itself in three principal forms,” Lee (R-Utah) said. “Immobility among the poor, who are being trapped in poverty by big-government programs; insecurity in the middle class, where families are struggling just to get ahead, and they can’t seem to get ahead; and cronyist privilege at the top, where political and economic insiders twist the immense power of the federal government to profit at the expense of everyone else.”

CNN:

“Obamacare – all by itself – is an inequality Godzilla that has robbed working families of their insurance, their doctors, their wages and their jobs,” Lee said. “Many Americans are now seeing why some of us fought so hard to stop this train-wreck over the last four years.”

“I believe we need to do what Americans have always done – come together and press for positive change. Protesting against dysfunctional government is a great American tradition, going back to the original Tea Party in Boston, about 240 years ago,” Lee said. “Americans have a natural instinct to stand up and speak out when they know something is wrong. … Unfortunately, in recent years, we have had no choice but to engage in a number of protests against our current president’s Washington-centered agenda.”

The truth of the matter is that income inequality has risen under Barack Obama.

Is Barack Obama Really Make Income Inequality a Main Topic at SOTU Address When it Has Increased Under his Presidency? Income Gap Widened Under Obama

Like everything Barack Obama has touched or claims he wants to make better, has become worse under his presidency …

The Divider in Chief Barack Obama is back to his old games of blaming the rich for the evils of society. What else is Obama going to do when he is an abject failure who has only made matters worse since he has been in office? Obama rails about income inequality and that it is the worse problem of out time, yet he is responsible for making the gap wider. From the president who makes class warfare part of his daily agenda and who claims he is for the common man, while demonizing the rich, Barack Obama has widened the income gap during his presidency turning the gap into a canyon.

Obama_income_inequality_Fox News

Click on pic to watch VIDEO of the income gap under Obama

Income inequality — the gap between the rich and poor — is an issue U.S. presidents of both parties have spoken of for years.

President Clinton touted, toward the end of his term, that wages were rising “at all income levels” for the first time in decades. President George W. Bush, toward the end of his, pondered the best way to respond to income inequality, noting some policies “lift people up” and some “tear others down.”

But perhaps no president has hammered the issue as emphatically as President Obama.

In his 2012 State of the Union address, Obama said: “The defining issue of our time is how to keep that promise alive. No challenge is more urgent. No debate is more important. We can either settle for a country where a shrinking number of people do really well, while a growing number of Americans barely get by, or we can restore an economy where everyone gets a fair shot, and everyone does their fair share, and everyone plays by the same set of rules.”

But a look back shows that income inequality has grown, not shrunk, under the current president.

“All told, income inequality has tended to get worse under President Obama,” American Enterprise Institute President Arthur Brooks said.

Obama_income_inequality_Fox News2

According to a recent FOX News poll, Barack Obama polls miserably on doing his job on the issue of income inequality. 52% disapprove with how Obama has handled income inequality and only 39% approve. So with Obama failing at an issue he claims to care about, how does he even have the audacity to bring the issue up at the State of the Union Address? Obama’s economic policies have made things worse for those lower income earners, while he has made the Wall Street fat cats richer. Hmm, but I thought Obama hated the rich? Obama has falsely propped up the stock markets thanks to the fed’s quantitative easing which only made the top 5% and 1% more and more money. It is those folks who can afford to take risks in the markets. However, for the average people who Obama claims to care about and tries to talk a good game, according to the recent Fox poll, 74% still feel like the country is in a recession. But don’t worry America, Obama has the answer to fixing income inequality … raising the minimum wage. Good grief, really! With so many people unemployed or underemployed, with so many Americans on food stamps and with so many people having just given up and not even in the labor force, why wouldn’t the gap be larger? When a Democrat party sets out to create a government dependent class of people, why is it that much of a surprise that the gap widens? Recessions affect the middle and lower classes the most.

U.S. income inequality, on rise for decades, is now highest since 1928.

Using tax-return data from the IRS, Saez has built extensive income-distribution datasets going back 100 years. He defines “income” as pre-tax cash market income — wages and salaries; dividends, interest, rent and other returns on invested capital; business profits; and realized capital gains. He excludes Social Security payments, unemployment benefits and other government transfer payments, which are more substantial today than before the Great Depression.

In 1928, the top 1% of families received 23.9% of all pretax income, while the bottom 90% received 50.7%. But the Depression and World War II dramatically reshaped the nation’s income distribution: By 1944 the top 1%’s share was down to 11.3%, while the bottom 90% were receiving 67.5%, levels that would remain more or less constant for the next three decades.

But starting in the mid- to late 1970s, the uppermost tier’s income share began rising dramatically, while that of the bottom 90% started to fall. The top 1% took heavy hits from the dot-com crash and the Great Recession but recovered fairly quickly: Saez’s preliminary estimates for 2012 (which will be updated next month) have that group receiving nearly 22.5% of all pretax income, while the bottom 90%’s share is below 50% for the first time ever (49.6%, to be precise).

FOX News Poll: Obamacare Hits Record Lows, Obama’s Handling of Economy, Immigration, Federal Debt, Immigration and Income Inequality Poll Poor as Well

Hey America, How’s that “Hopey-Changey” thing working out for you?

The more that Americans learn and have to deal with Obamacare, the more they hate it. According to a recent Fox News poll, a record number of Americans oppose Barack Obama’s signature piece of legislation, the not-so Affordable Healthcare Act. Fifty-nine percent now oppose Obamacare and a record low of 38% now support it. Obamacare in the eyes of the American people is not getting better, it is getting worse. To quote former Democrat House Speaker Nancy Pelosi, “we have to pass the bill in order to find out what is in it” and the American people loath what’s in Obamacare. Americans are learning that were not just lied to by Barack Obama regarding Obamacare, they are learning that they were fed nothing but BS and Obamacare is a complete disaster in policy, not just implementation.

Hmm … wasn’t Obamacare created to sign up the so-called 50 million uninsured in America? Where are all the people?

Obama_dr3

A record high number of voters now oppose the 2010 Affordable Care Act and a record low number supports it, according to the latest Fox News poll.

In addition, a majority thinks the new law will increase their health care costs, while few think it will improve their quality of care.

The new poll finds 59 percent of voters oppose the health care law, up from 55 percent who opposed it six months ago (June 2013).  The increase in opposition comes from both independents and Democrats.

Nearly a third of Democrats — 30 percent — oppose the law, up from 22 percent in June.

Opposition among independents went from 53 percent to 64 percent today.

The LEFT will be quick to say, well that’s a FOX News poll, what would you expect. Oh contraire mon frère … the RCP average polling on Obamacare has 37.6% For and 54.5% Against. It would appear that the Fox poll is right in line.

But it is not just healthcare that Obama is having problems with. Accross the boar on the major issues of the day, Barack Obama is a complete failure. It is really too bad that presidents do not have to face recall elections.

Do you approve or disapprove of the job Barack Obama is doing on the following issues?  (All polling data can be read HERE)

  • Income inequality: 39% Approval -  52% Disapprove -  9% Don’t Know
  • The economy:  38% Approve -  59% Disapprove -  3% Don’t Know
  • Health care:  38% Approve -  59% Disapprove -  3% Don’t Know
  • Immigration: 36% Approve -  54% Disapprove -  11% Don’t Know
  • Iran:  35% Approve -  53% Disapprove -  12% Don’t Know
  • Gun control:  35% Approve -  57% Disapprove -  8% Don’t Know
  • The federal deficit:  28% Approve -  66% Disapprove – % Don’t Know

Barack Obama … The Food Stamp & Disability President … The Total Number of people in US Receiving Federal Disability Benefits Hits a Record High in December, 2013

Not only is Barack Obama the Food Stamp president, he is the Disability president as well … So this is what “Hope & Change ” looks like.

More records for Barack Obama not to be proud of.  CNS is reporting that the total number of Americans receiving federal disability benefits hits a record high of 10,988,269 in December, 2013. That was up from the previous record set in November of this year. Also, the average monthly benefit paid to a disabled worker also hit a record of $1,146.43 in December. What else are individuals going to do except go on food stamps and disability when the economy stinks. Thus, the real reason the the unemployment number is decreasing. It has nothing to do with people getting jobs, but everything to do with people no longer looking for employment.

Disability v Jobs

The total number of people in the United States now receiving federal disability benefits hit a record 10,988,269 in December, up from the previous record of 10,982,920 set in November, according to newly released data from the Social Security Administration.

The average monthly benefit paid to a disabled worker also hit a record of $1,146.43 in December, up from a previous high of $1,130.34 in December of last year.

Spouses of disabled workers also got a record average monthly benefit of $308.13 in December, up from a previous high of $304.31 in August. Children of disabled workers also received a record average monthly benefit of $341.42 in December, up from a previous high of $337.13 in May.

As CNSNews.com reported earlier this month, the number of Americans getting disability benefits now exceeds the entire population of Greece, which is 10,772,967, according to the CIA World Factbook.

But wait, how can record number of Americans still be increasing on disability and food stamps … I thought the recession was over? Barack Obama is killing this country.

Tavis Smiley: ‘Black People Will Have Lost Ground in Every Single Economic Indicator’ Under Barack Obama

Finally some one in the liberal black community is admitting the truth, Barack Obama has been a nightmare for blacks.

During an interview on Fox News’s ‘Hannity,’ PBS’s Tavis Smiley said the following, “The data is going to indicate sadly that when the Obama administration is over, black people will have lost ground in every single leading economic indicator category” There you have it, blacks who voted for Obama 95% in 2008 and 93% in 2012, have been sold a bill of goods and received nothing for their vote but food stamps. So why would African-Americans have voted in such large numbers for a president who has failed them incredibly? Could it possibly be that the liberal MSM and black leaders have refused to tell them the truth that Obama has been their worst nightmare? What would the liberal media be reporting if blacks had lost ground in every single economic indicator, if the president was white?

From News Busters:

SEAN HANNITY, HOST: My last question to you. You often do these seminars with the state of black America. I’ve watched them on C-Span and different channels, right?

TAVIS SMILEY: Right.

HANNITY: Are black Americans better off five years into the Obama presidency?

SMILEY: Let me answer your question very forthrightly. No, they are not. The data is going to indicate sadly that when the Obama administration is over, black people will have lost ground in every single leading economic indicator category. On that regard, the president ought to be held responsible.

But here’s the other side. I respect the president. I will protect the president. And I will correct the president. He’s right on this government shutdown. Republicans are thwarting the rule of law with the Constitution. If they let this debt go into default, they’re trampling again on the Constitution.

When will minorities ever wake up, but that’s right, it’s all Republicans fault.

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