Even as President Obama has boasted that his economics policies have helped the economy "turn the corner", or have brought us "back from the brink", how many of us have looked at him and his claims with utter disbelief? I know I have. His words don't match what I have seen happen in my community (where unemployment is way above the national average, over 15% in some areas), or to my family.
Well, now we have a study that backs up what so many Americans have felt, or suspected. The Obama Administration has been blowing sunshine up American's butts for the last three years.
Americans’ Incomes Have Dropped 6.7 Percent During the ‘Recovery’
10:03 AM, NOV 1, 2011 • BY JEFFREY H. ANDERSON
New evidence suggests there’s a reason why this economic “recovery” hasn’t felt much like a recovery. Figures from the Census Bureau’s Current Population Survey, compiled by Sentier Research, show that the “recovery” has actually been harder on most Americans than the recession from which they’ve allegedly been recovering.
According to Sentier’s report, the median American household income has actually fallen during the “recovery.” Not only that, but it has fallen even more than it did during the recession. Gordon Green, former chief of the Governments Division at the U.S. Census Bureau and co-author of the report (with fellow Census veteran John Coder), says, “Real income fell by 3.2 percent during [the recession]. And during the recovery it went down by 6.7 percent.” So “income [has] declined twice as much in the recovery as in the recession itself.”