Just-released economic report indicates household incomes in America have seen further declines during the Obama “recovery” than the decline during the actual “Great Recession” of 2007-2009.
The same study also suggests that the recession was all but over by the time Barack Obama was sworn into office as President – indicating the Obama recovery has actually been a long and drawn out Obama recession – one that the president owns all by himself. The policies passed by the White House and the then-Democratic controlled Congress during 2009 and 2010, such as Obamacare and the stimulus bill, which added trillions to the national debt, have clearly impacted the overall American economy in a negative way.
Here is an excerpt from the study:
This report includes: (1) estimated changes in household income during the recent recession and post-recessionary period, and (2) the new Household Income Index (HII) that tracks median household income by month starting in January 2000.
First, it examines household income trends during the recent recession lasting from December 2007 to June 2009, and two full years of the “economic recovery” beginning in June 2009 up through June 2011. It shows that there has been no recovery in terms of household income. To the contrary, it shows that median household income has continued to decline up through June 2011.
For American families in particular, the Obama administration has proven to be particularly harmful, with family incomes having seen reductions double those reductions from 2007-2009, Historically, the Obama “recovery” is proving to be the worst post-recession recovery in the history of the United States.
Hang in there America – 2012 is on its way…