Custom Search

Wednesday, September 26, 2012

Obamanomics: Household Incomes Fall Over 8 Percent Since Obama Took Office

By Susan Duclos

More proof that Obama's economic policies aka Obamanomics,  are continuing to fail, via IBD:

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.

"Even though we are technically in an economic recovery, real median annual household income is having a difficult time maintaining its present level, much less recovering," said Sentier co-founder and former Census Bureau official Gordon Green.

Earlier this month, the Census Bureau released its annual report showing that the number of people in poverty was nearly 3 million higher in 2011 than in 2009, an increase of 6%.

Read the entire thing.

By every standard conceivable, America and Americans are not better off than they were four years ago and yet Obama proposes more of the same.