Ace @ Ace of Spades HQ:
He’s doing great. Let’s give him four more years.
Household income is down sharply since the recession ended three years ago, according to a report released Thursday, providing another sign of the stubborn weakness of the economic recovery.From June 2009 to June 2012, inflation-adjusted median household income fell 4.8 percent to $50,964, according to a report by Sentier Research, a firm headed by two former Census Bureau executives.
Incomes have dropped more since the beginning of the recovery than they did during the recession itself,when they declined 2.6 percent, according to the report, which analyzed data from the Census Bureau’s Current Population Survey. The recession, the most severe since the Great Depression, lasted from December 2007 to June 2009.
Overall, median income is 7.2 percent below its December 2007 level and 8.1 percent below where it stood in January 2000, which was at $55,470, according to the report.
While obviously, Obama bears responsibility, shouldn’t said responsibility be shared with a Republican House?
@Ivan:
Don’t forget Democrats controlled the House and Senate from 2007 to 20010. They are also responsible.
The GOP deserves blame insofar as their failure to stop the economic crash from happening. With that said, the lion’s share belongs to the dems for interferring in the economy for “social justice” and political/monetary gain.
@Ivan: Why would you say that? Republicans have done all they can do to prevent Democrats from destroying our economy. Also, when should we expect the Senate to do their job a propose a budget?