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.
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..
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:
- Obamanomics: People in Poverty Up 6,667,000 … Record 46,496,000 Now Poor … Median Income Down Nearly 5% to $2,627.
- Welfare Spending = $168 Per Day for Every Household in Poverty … $137 Median Income Per Day
- Obama’s Hope & Change Economy … The Nation’s Official Poverty Rate in 2009 was 14.3%.
- The Obama Economy Welcome to Obamaville: The Number of People on Poverty to Post Record Gain Under Obama’s Watch.
- The United States of Poverty: Thanks to Barack Obama & Obamanomics, US Poverty on Track to Rise to Highest Since 1960?s
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.”
“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.
Adjustment of GDP … US Economy Shrunk By Most in Five Years in First Quarter, Commerce Dept Says – 2.9%
RECOVERY, WHAT OBAMA ECONOMIC RECOVERY?
Obamanomics at its finest … The Obama economy is worse than first reported. The GDP for QTR 1 for 2014 was not -1.0%, it was -2.9%!!! This marks the biggest decline since early 2009 when the Great Recession was winding down.
The U.S. economy contracted at a worse pace than previously estimated in the first quarter, marking its sharpest pullback since the recession ended five years ago.
Gross domestic product, the broadest measure of goods and services produced across the economy, contracted at a seasonally adjusted annual rate of 2.9% in the first three months of the year, according to the Commerce Department’s third reading released Wednesday. That was the fastest rate of decline since the first quarter of 2009, when output fell 5.9%.
Commerce had previously estimated output fell by 1% in the first quarter as manufacturers drew down inventories rather than produce new goods and as unusually harsh weather kept consumers at home and shut down work sites. Exports also declined after a surge late last year.
The media lap dogs sat “don’t freak out” with regards to the terrible GDP for Q1 2014. Hmm, would they be saying the same for GWB? Here are the excuses for the reason why you should not fret about the -2.9 GDP, it’s the weather’s fault, it’s not a final number:and other data show the economy is improving. Really, it’s not the final numbers? They just revised it down from -1% to -2.9%, do you mean it could get revised even lower?
More from Newsbusters and the liberal media spin.
Guess what, Barack Obama was not “The One” that we had been waiting for …
In a recent CNN poll, Barack Obama is now as unpopular as former president George W. Bush. Both Obama and Bush now have a 51% unfavorable rating. Obama’s approval rating has dropped to 47%. However, that most likely is not the low that this president will see before he leaves office, and none too soon. With scandals abound like IRS-gate, Fast & Furious, Benghazi-gate and most recently the VA scandal and the release of 5 Taliban, GITMO detainees for an alleged deserter. Not to mention a continued poor economy, a jobless recovery, a disastrous foreign policy and last but certainly not least, Obamacare. As commented on by Hot Air, a Fox News poll out this week shows continued sharp disapproval of President Obama’s signature domestic “accomplishment,” with a sizable majority expressing the opinion that they wish the 2010 healthcare law had never passed.
Who is laughing now Barack?
In January 2009, as President George W. Bush was days away from leaving the White House, the unpopular President’s favorable rating stood at 35% in a CNN/ORC International survey. The man who was succeeding him, Barack Obama, was fresh from his historic 2008 presidential election victory and had a 78% favorable rating among Americans.
But a new CNN/ORC International poll released Thursday indicates a milestone of sorts: Obama is now as unpopular as Bush. Fifty-one percent have an unfavorable view of Bush; 51% feel the same way about Obama. Obama’s favorable rating is now at 47% – a new low for him, and virtually identical to Bush’s 46% favorable rating, a significant improvement over his 2009 numbers.
Obama started out strong, but as many predicted, the public’s love affair with Obama faded as reality set in. Obama dealt with the severe recession plaguing the nation and pushed for controversial proposals such as the federal stimulus and health care reform. By 2010, the President’s favorable rating had dropped by double digits, although his numbers generally remained in the mid-50s throughout the 2012 presidential campaign.
EXIT QUESTION: Will Barack Obama’s favorable and unfavorable ratings be worse than GWB’s by the end of his presidency … Magic 8-Ball says, “Signs point to Yes”.
Texas Senator Ted Cruz Wins 2016 Presidential Straw Poll at a Republican Leadership Conference in New Orleans, Louisiana
If Ted Cruz is Constitutionally allowed to run for President … He will be a real threat to Democrats and establishment Republicans …
Texas Senator Ted Cruz won the 2016 Presidential straw poll at a Republican Leadership Conference in New Orleans, Louisiana. Cruz finished first with 30.33%, Dr. Ben Carson second with 29.38% and Kentucky Senator Rand Paul finished third with 10.43%. They were followed by former Arkansas Governor Mike Huckabee and Texas Governor Rick Perry rounded out the top five, at 5.06% and 4.90%, respectively. Moderate RINO’s Florida’s former Governor Jeb Bush came in 7th with 4.42% and New Jersey Governor Chris Christie came in dead last with 1.11%. During his speech Cruz said that Republicans would take back the Senate, they will retire Sen. Mary Landrieu (D-LA) and remove Harry Reid as Majority Leader.
Cruz finished in first place in the annual conference’s presidential straw poll at 30.33%. Dr. Ben Carson, a Fox News commentator and conservative activist, finished in second with 29.38% while Sen. Rand Paul, R-Kentucky, was third with 10.43%.
Fox News host and former Arkansas Gov. Mike Huckabee and Texas Governor Rick Perry rounded out the top five, at 5.06% and 4.90%, respectively.
Neither Carson nor Paul spoke at the conference, but their support was a show of confidence by the traditionally more conservative crowd. The annual meeting of activists features of who’s who of big-name Republican politicians. It is an important appearance for potential presidential candidates to make.
More moderate Republicans also skipped the conference, but many fared much worse in the straw poll. New Jersey Gov. Chris Christie came in dead last with 1.11% while Florida’s former Gov. Jeb Bush and current Sen. Marco Rubio and came in seventh and eighth at 4.42% and 3.32 %, respectively.
Nobody Cares what any politicians in Washington says. Power in politics, sovereignty in America is with We the People!
MUST WATCH VIDEO
Ted Cruz, an ardent defender of The Bill of Rights and the Second Amendment said during his speech, “In Texas, we define gun control real simple. That’s hittin’ what you aim at.” Cruz Also went on to say, “that following the tragic shooting in Newtown, CT the president didn’t do what she should have done. What he should have done is he should have stood up and said we are going to go after violent criminals and we are going to come down on violent criminals like a ton of bricks. instead he used it as an excuse to come after the rights of law abiding citizens.”
Cruz consistently pointed out that Democrats and establishment gray-beard Republicans both says that things can’t get done. Yet time after time in examples of drone strikes against Americans, Second Amendment gun control, foreign affairs and provisions in the International monetary fund. All won by conservatives.
Too often the establishment GOP says it can’t be done because they are afraid to take a position. In order for there to be change, not only must Democrats go, so must the establishment Republicans who have long forgot what they were sent to Washington, DC to do.
THE CONSERVATIVE BATTLE AGAINST OBAMACARE: HOW DO YOU WIN ELECTIONS … YOU DON’T WIN IT BY STANDING FOR NOTHING …
Cruz went on to blast the establishment same old-same old way of doing things within the GOP of trying to win elections. There is a cluster of political consultants who keep running losing campaigns, making the same mistakes and keep coming back to donors to make the same failed mistakes that did not win the previous times. He stressed that the way you win elections is you stand for principle and you empower the people.
And you thought 0.1% GDP was bad …
On Thursday the Commerce Department adjusted down the first quarter GDP, Gross domestic product, to – 1.0% for the first three months of 2014. The agency had initially last month estimated GDP grew at a 0.1% rate in the first quarter. Oops, missed it by that much. How’s that Obamanomics working out for you America? A recession is defined as a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters. However, because job wages have remained stagnant, if you have one, while food prices are up, gas prices are up and energy prices are up, most Americans feel that we are still in a recession.
The recovery that wasn’t. Of course the Obama folks are quick to point to the harsh winter weather for the downturn. Hmm, what happened to global warming? But what happened in the first quarter of 2014 … how about Obamacare enrollment?
The United States GDP shrank at an annual rate of 1.0 percent in the first quarter of 2014, according to the second estimate released by the Commerce Department. It is the worst performance in three years and comes lower than a preliminary estimated 0.1 percent expansion, due to a sharper fall in private inventory investment and a bigger trade deficit.
The downturn in the percent change in real GDP primarily reflected a downturn in exports, a larger decrease in private inventory investment, and downturns in nonresidential fixed investment and in state and local government spending that were partly offset by an upturn in federal government spending.
The price index for gross domestic purchases, which measures prices paid by U.S. residents, increased 1.3 percent in the first quarter, 0.1 percentage point less than in the advance estimate; this index increased 1.5 percent in the fourth quarter. Excluding food and energy prices, the price index for gross domestic purchases increased 1.3 percent in the first quarter, compared with an increase of 1.8 percent in the fourth.
Comedian Rob Schneider Very Critical of Media & Obama’s Handling of the Economy …”We Are Sliding Very Fast Towards Fascism”
Rob Schneider critical of the Obamameister …
Former SNL cast member, comedian and actor Rob Schneider held nothing back when voicing his opinions on discussing the path he sees the country on during an interview with Chris Stigall on Talk Radio 1210 WPHT. Schneider was extremely critical of Obama’s handling of the economy and of the MSM for being overly influenced by government and in failing to stand up for ‘We the People”. Many of us wish that Barack Obama was in a job where he was “making copies”.
“Democracies don’t end well. We are sliding very fast towards fascism. It’s an ugly kind of thing. There’s this kind of mob mentality that we have to be careful of,” he said.
He believes comedians are pressured toward one side of the political spectrum.
“There’s a polarization that’s happening…I do think you look can look at government and go, ‘Wow, it is out of control now,’ and if you do criticize or tend to be not directly along a liberal stand, you can get murdered,” Schneider commented.
Schneider was very critical of the President’s handling of the economy and he feels certain policies are impacting businesses.
He was also critical of the media for being overly influenced by the government and not standing up for the American people.
DNC Chairwoman Debbie Wasserman-Schultz Says Politics Had Nothing to do With Obama’s Delay of Keystone XL Pipeline Until After 2014 Midterm Elections
LIAR, LIAR, PANTS ON FIRE …
DNC Chairwoman Debbie Wasserman-Schultz (D-FL) was on ‘Meet the Press’ on Sunday spinning like a top. DWS told David Gregory that she does not believe that Barack Obama’s decision to delay the XL Keystone pipeline had nothing to do with politics. HAH! Seriously Debbie, the fact that it is referenced that a decision will be made at the earliest after the 2014 has nothing to do with politics? Sorry, but much like everything with Obama, it has everything to do with politics. This is just another example of Barack Obama kicking the political can of issues down the road and playing partisan politics and putting Democrats ahead of Americans. We know that the Keystone XL pipline construction will create primary jobs and secondary one’s from that. But that does not matter to the Food Stamp president.
DWS discusses Keystone XL Pipeline around the 4:00 mark
DWS went on to say, “It [Keyston XL pipeline] affects multiple states. What’s also true is that incumbent senators like [Louisiana Democrat] Mary Landrieu understand the issues that are important on the ground in their states to their constituents.” Yes, they do and they do not appear to be happy.
This woman has the nerve to talk about Tea party extremists when Democrats and Barack Obama are pandering to the far-left wing environmental wackos in delaying the XL Keystone as even Sen. Mary Landrieu (D-LA) stated, “Today’s decision by the administration amounts to nothing short of an indefinite delay of the Keystone pipeline. The decision’s irresponsible, unnecessary, and unacceptable. By making it clear that they will not move the process forward until there’s a resolution in a lawsuit in Nebraska, the administration is sending a signal that the small minority who oppose the pipeline can tie up the process in court forever.”
DAVID GREGORY: Are you worried, as the party chair, that this shouldn’t be resolved before the election because of the potential impact it could have on vulnerable Democrats?
REP. DEBBIE WASSERMAN SCHULTZ: As a member of Congress who represents hundreds of thousands of people in south Florida, I want to make sure that the right decision is arrived at. And that the president makes that decision carefully and he doesn’t factor politics into his decision, which I don’t think he is.
DAVID GREGORY: Is the issue in the fall a referendum on President Obama?
REP. DEBBIE WASSERMAN SCHULTZ: No, absolutely not. The–
DAVID GREGORY: It’s not?
I suppose the IRS targeting the Tea Party, blaming Benghazi on a video tape and delaying employee mandates for Obamacare were not political either.
Obama Administration Delays Once Again Final Decision on Keystone XL Pipeline … Play Politics Over Jobs for Americans
Barack Obama has made promises to Americans that jobs is his number one priority, but has done everything but …
The Obama administrations has once again kicked the can of American jobs down the road in place of playing politics. Team Obama has once again delayed the decision on the XL Keystone pipeline on Good Friday and Easter weekend. The decision now will most likely not be made until after the November midterm elections. How convenient. This is just another attempt to humor the far left and the environmental wackos to get their campaign dollars and votes. The Weekly Standard makes a valid and important point, “if the administration wanted the pipeline built, construction would have long since been underway … Witness the numerous executive fiats regarding the implementation of Obamacare.”
The Obama administration further delayed its decision on the controversial Keystone XL pipeline project on Friday, with no conclusion now likely until after the U.S. mid-term elections in November.
President Barack Obama has said he will have the final say on whether to allow the pipeline connecting Canada’s oil sands region to Texas refiners, and several government agencies had been given until May to weigh in. This had raised expectations of a final decision by mid-year.
But the State Department said on Friday it was extending that agency comment period, citing a need to wait until the Nebraska Supreme Court settles a dispute over what path the $5.4 billion TransCanada Corp project should take.
“That pipeline route is central to the environmental analysis for the project and if there are changes to the route it could have implications,” a senior State Department official told reporters.
Politically, it seems like a great idea, since kicking Keystone down the road — probably long past November — is better than an outright rejection for vulnerable oil-state Democrats, whose voters love the proposed project. And it keeps environmentalists at bay, boosting hopes that President Barack Obama might still swing their way.
But the non-decision decision also makes life a little harder for several groups of Democratic senators and Senate candidates fighting for their lives.
Some, like Colorado Sen. Mark Udall, have yet to take a firm stance on the Alberta-to-Texas oil pipeline — and the State Department’s announcement Friday that it’s extending its review of the project removes the possibility that Obama could resolve the issue one way or another next month.
Meanwhile, pro-Keystone Democrats like Senate energy Chairwoman Mary Landrieu will face heightened pressure to take actions to match their rhetoric.
Responded Landrieu, the newly installed chair of the Senate Energy and Natural Resources Committee: “Today’s decision by the Administration amounts to nothing short of an indefinite delay of the Keystone Pipeline. This decision is irresponsible, unnecessary and unacceptable. By making it clear that they will not move the process forward until there is a resolution in a lawsuit in Nebraska, the administration is sending a signal that the small minority who oppose the pipeline can tie up the process in court forever. There are 42,000 jobs, $20 billion in economic activity and North America’s energy security at stake.” Landrieu said she plans to use her chairmanship of the Senate Energy Committee to try and move the project forward.
Obama’s Chickens coming home to roost means American’s goose is cooked …
I would add it is more than a mere coincidence that everything that Obama has done in his six years in office has made the United States of America a weaker nation. whether it be domestic or foreign policy, Obama has done what many believe is irreparable damage to the US. One would almost say, it would be impossible to get so many things wrong. One might even say it was intentional.
It is impossible to dismiss as mere coincidence the Russian Bear’s invasion of Ukraine and the continuing mayhem of the Affordable Care Act. In their own ways, each reflects the full flowering of the policies of Barack Obama.
His chickens are coming home to roost, and what a mess they are making.
Obama’s sixth year in the White House is shaping up as his worst, and that’s saying something. He’s been in the Oval Office so long that it is obscene to blame his problems on George W. Bush, the weather or racism. Obama owns the world he made, or more accurately, the world he tried to remake.
Nothing important has worked as promised, and there is every reason to believe the worst is yet to come. The president’s casual remark the other day that he worries about “a nuclear weapon going off in Manhattan” inadvertently reflected the fear millions of Americans have about his leadership. Not necessarily about a bomb, but about where he is taking the country.