Like conflict, numbers have a way of concentrating the mind. Everyone knows the economy is in bad shape. But just how bad is it? As President Obama campaigns to move the country “Forward” and tries to scare the middle class into voting against Mitt Romney and Paul Ryan (rather than for him), it’s critical to note how badly Americans’ incomes have fared in the Obama economy.
According to the Washington Post, “Incomes have dropped more since the beginning of the recovery than they did during the recession itself.” The Post cites a report which notes that “from June 2009 to June 2012, inflation-adjusted median household income fell 4.8 percent to $50,964.”
A broader historical comparison reveals just how acute the present crisis is. The report further notes that “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.” Such grim news is just the latest reminder that President Obama’s leadership has left Americans poorer than they were under George W. Bush, and poorer than they’ve been in a generation.
Indeed, as a result of Barack Obama’s failure to stem the economic bleeding, the Federal Reserve reported earlier in the summer that the recession erased two decades’ worth of our collective wealth. There have been 42 straight months where the unemployment rate has exceeded 8%. Offering four more years of economic woe is anything but “Forward.”
It’s no secret the prolonged recession has most hurt the very people President Obama ostensibly intended to help with his ill-conceived government “investments,” the middle class. The middle class, i.e. those making between $39,000 and $118,000 (according to the Pew Research Center), has borne the brunt of the bad economy. As the above numbers demonstrate, three years after the recession technically ended (August 2009), the recession continues to ravage the middle class.
These are facts President Obama cannot mention. And in the Leftist playbook, when you cannot tell the truth, you deceive and personally attack those who dare to do so. Further, you attempt to divide people by artificial barriers, like income. Hence Barack Obama’s obsession with Mitt Romney’s tax returns. There is something gross about categorizing Americans by their gross income. In the Obama worldview, you are your W-2.