Obamanomics Delivers....Poverty

[Sun Devil 92]

Census Bureau announced household income today. Income was down from last year. And income has yet to achieve the levels it was the very day Bush left office.
If that isnt a record of failure on the economy the Democrats own, I dont know what is.
U.S. household incomes slip, poverty rate up slightly in 2014

1.....2......3.....

Wait for it.......

Here it comes.......

BOOOOOOOOOOOOOOOOOOOOOOOSSSSSSSSSSSSSSSSHHHHHHHHHHHHHHHHHHHHHHH

 

[Spinster]

His idea of economics is quite skewed as he takes million dollar vacations and Michelle and girls take multi-million dollar shopping sprees on the taxpayers' dime. But that's okay, it's just Monopoly money, and if we run out, they can simply print more. Every president has come out of office way, way wealthier than when they went in. I understand they don't do the job for free, but the level of wealth they leave office with completely overshadows their annual salary even if they never spent a nickel while they were in. Something's wrong with that picture.

 

[francoHFW]

WASHINGTON (Reuters) - American household incomes lost ground last year and the poverty rate ticked up, a sign the U.S. economic expansion had yet to lead to gains for many Americans five years after the 2007-2009 recession.

The data released by the U.S. Census Bureau on Wednesday, which showed the inflation-adjusted median income slipping to $53,657 last year from $54,462 in 2013, offered a reminder of the tepid nature of the economy's recovery.

"In 2014, real median household income was 6.5 percent lower

than in 2007, the year before the most recent recession," Census researchers wrote.

At the same time, the poverty rate ticked up to 14.8 percent from 14.5 percent in 2013, the data showed. Census researchers said the changes in both the median income and poverty rate were not statistically significant.

The Census Bureau also said the number of people in the United States without health insurance coverage fell to 33 million last year, or 10.4 percent of the population, from 41.8 million, or 13.3 percent, in 2013.

White House economists welcomed the sharp drop in the number of uninsured, which reflected the impact of President Barack Obama's signature healthcare law, and a steep decline in the child poverty rate.

Obama was handed a disaster, he has dealt well.

Seven years on, and still decrying Bush.

Moron.

ACTUALLY, this is STILL Reaganomics, defended to the death by bought off Pubs and their fools like you...

Actually no, this is you making an ass of yourself.

Move on and take a hike.

Not bloody likely, Pub dupe dingbat. see sig.

 

[francoHFW]

Census Bureau announced household income today. Income was down from last year. And income has yet to achieve the levels it was the very day Bush left office.
If that isnt a record of failure on the economy the Democrats own, I dont know what is.
U.S. household incomes slip, poverty rate up slightly in 2014

1.....2......3.....

Wait for it.......

Here it comes.......

BOOOOOOOOOOOOOOOOOOOOOOOSSSSSSSSSSSSSSSSHHHHHHHHHHHHHHHHHHHHHHH

Nope. GOP duh.

 

[Dad2three]

Census Bureau announced household income today. Income was down from last year. And income has yet to achieve the levels it was the very day Bush left office.
If that isnt a record of failure on the economy the Democrats own, I dont know what is.
U.S. household incomes slip, poverty rate up slightly in 2014

December 2007


The Economic Consequences of Mr. Bush


The next president will have to deal with yet another crippling legacy of George W. Bush: the economy. A Nobel laureate, Joseph E. Stiglitz, sees a generation-long struggle to recoup.

The Economic Consequences of Mr. Bush




No president in US history has ever been handed such a mess as Obama inherited from the disastrous Bush administration in which the economy was in absolute free fall, the GDP plunging 9% in just one quarter. That's equivalent to THREE years of robust growth literally wiped out in three months! US foreign policy was in a shambles, and 750,000 jobs were being lost each and every month.

Just go back to Sept. of 2008 to honestly admit that Obama & company have performed a veritable miracle; we are much better off today than we should have been able to expect we would be, when viewed from the bottom of that deep chasm 7 years ago.


The tragic thing is Republicans are pushing for even more deregulation and tax cuts when those are the things that got us into this mess in the first place.


Remember when the GOP claimed tax cuts would make the economy better?

Remember how George Bush senior called Regan's "Trickle Down" theory "voodoo economics"?


Where are they now? They, like the people who sold you survivor kits in 1999 and 2011, have all run off laughing, to the bank.

 

[Dad2three]

P. T. Barnum . . . The worst part about elephants is cleaning-up their messes

 

[Dad2three]

GOP IS to to blame. They dug the fiscal hole, they set up a tax policy that resulted in the enrichment of a few and the impoverishment of most. Their lessaiz-faire regulatory policies crashed the economy, they doubled the size of the war budget and engaged in foreign wars of choice. They despise the poor, the working man, and the civil servant. They place corporate interests above citizen interests.

The Economic Blue Screen of Death

OCT 2008



Work done by James Kennedy and Alan Greenspan, on the effect of mortgage equity withdrawals (MEWs) on the growth of the US economy.

Notice that in both 2001 and 2002, the US economy continued to grow on an annual basis (the "technical" recession was just a few quarters). Their work suggests that this growth was entirely due to MEWs. In fact, MEWs contributed over 3% to GDP growth in 2004 and 2005, and 2% in 2006. Without US homeowners using their homes as an ATM, the economy would have been very sluggish indeed, averaging much less than 1% for the six years of the Bush presidency. Indeed, as a side observation, without home equity withdrawals the economy would have been so bad it would have been almost impossible for Bush to have won a second term.

Now let's look at the update that James Kennedy posted last week to his numbers. While he does not have an update to the chart above, we do have the actual numbers for new mortgage equity withdrawals through the second quarter of this year. And what they show is MEWs simply withering on the vine. The engine of our GDP growth has essentially been turned off. Look at the fall in the numbers for yourself:

In 2005 there was almost $595 billion in mortgage extractions that went into some kind of consumer spending. Remember, according to the graph above, that translated into a 3% rise in GDP. In 2007, MEWs were down to $470 billion, for a boost of 2% to GDP.

The second quarter of 2008 saw an anemic $9.5 billion. At that run rate, we could see a drop-off of over 90% from 2005! Now, think what the second quarter would have been without the federal stimulus program of $150 billion. It might have looked and felt like this quarter!


The Economic Blue Screen of Death


Do you remember 2001 when we had a budget surplus. Alan Greenspan testified before Congress in favor of the Bush tax cuts,"we are in danger of paying down the debt too fast". How absurd is that statement today! By the way, not a single GOP senator voted for the 93 reconciliation act that led to the balanced budget and eventual surplus.



We already know what economic policies work best for our country. Clinton knew that we had to cut spending and increase revenues. We had revenues of 20.6% of GDP and a surplus in 2000. Then something terrible happened, the Republicans gained complete control in 2001 and instead of sticking with what was working they decided that their ideology was more important. The debt has gone up $12+ trillion since then.

 

[Dad2three]

Census Bureau announced household income today. Income was down from last year. And income has yet to achieve the levels it was the very day Bush left office.
If that isnt a record of failure on the economy the Democrats own, I dont know what is.
U.S. household incomes slip, poverty rate up slightly in 2014

1.....2......3.....

Wait for it.......

Here it comes.......

BOOOOOOOOOOOOOOOOOOOOOOOSSSSSSSSSSSSSSSSHHHHHHHHHHHHHHHHHHHHHHH

 

[Dad2three]

WASHINGTON (Reuters) - American household incomes lost ground last year and the poverty rate ticked up, a sign the U.S. economic expansion had yet to lead to gains for many Americans five years after the 2007-2009 recession.

The data released by the U.S. Census Bureau on Wednesday, which showed the inflation-adjusted median income slipping to $53,657 last year from $54,462 in 2013, offered a reminder of the tepid nature of the economy's recovery.

"In 2014, real median household income was 6.5 percent lower

than in 2007, the year before the most recent recession," Census researchers wrote.

At the same time, the poverty rate ticked up to 14.8 percent from 14.5 percent in 2013, the data showed. Census researchers said the changes in both the median income and poverty rate were not statistically significant.

The Census Bureau also said the number of people in the United States without health insurance coverage fell to 33 million last year, or 10.4 percent of the population, from 41.8 million, or 13.3 percent, in 2013.

White House economists welcomed the sharp drop in the number of uninsured, which reflected the impact of President Barack Obama's signature healthcare law, and a steep decline in the child poverty rate.

Obama was handed a disaster, he has dealt well.

Seven years on, and still decrying Bush.

Moron.

Weird the GOP claims Ronnie's responsible for the Clinton economy, the 16 year miracle, but Dubya, his policies stopped Jan 20th 2009 right? lol

 

[jasonnfree]

Republicans vowed to obstruct Obama since day one. So maybe blame the guys mentioned in the link below. Now, some almost, but not quite, intelligent right wingers on this message board know about this near treasonous meeting of repub politicians meeting with private citizens like gingrich and luntz. They vowed to, in effect, sabatoge Obama's presidency after bush left him with the biggest economic disaster since the republican depression of the thirties (that's what it was called back then). Still, said almost, but not quite, halfway intelligent right wingers such as the rabbi, can't seem to make the connection that if you block and stonewall everything the president does, then you're not going to have the booming economy we had before bushcheney ruined it.

The Conspiracy to Commit Legislative Constipation

 

[jasonnfree]

WASHINGTON (Reuters) - American household incomes lost ground last year and the poverty rate ticked up, a sign the U.S. economic expansion had yet to lead to gains for many Americans five years after the 2007-2009 recession.

The data released by the U.S. Census Bureau on Wednesday, which showed the inflation-adjusted median income slipping to $53,657 last year from $54,462 in 2013, offered a reminder of the tepid nature of the economy's recovery.

"In 2014, real median household income was 6.5 percent lower

than in 2007, the year before the most recent recession," Census researchers wrote.

At the same time, the poverty rate ticked up to 14.8 percent from 14.5 percent in 2013, the data showed. Census researchers said the changes in both the median income and poverty rate were not statistically significant.

The Census Bureau also said the number of people in the United States without health insurance coverage fell to 33 million last year, or 10.4 percent of the population, from 41.8 million, or 13.3 percent, in 2013.

White House economists welcomed the sharp drop in the number of uninsured, which reflected the impact of President Barack Obama's signature healthcare law, and a steep decline in the child poverty rate.

Obama was handed a disaster, he has dealt well.

Seven years on, and still decrying Bush.

Moron.

Weird the GOP claims Ronnie's responsible for the Clinton economy, the 16 year miracle, but Dubya, his policies stopped Jan 20th 2009 right? lol

Forgive them, for they were told that Reagan was a saint, and they believe it. Fox news wouldn't lie to them, right?

 

[jasonnfree]

His idea of economics is quite skewed as he takes million dollar vacations and Michelle and girls take multi-million dollar shopping sprees on the taxpayers' dime. But that's okay, it's just Monopoly money, and if we run out, they can simply print more. Every president has come out of office way, way wealthier than when they went in. I understand they don't do the job for free, but the level of wealth they leave office with completely overshadows their annual salary even if they never spent a nickel while they were in. Something's wrong with that picture.

If Obama is such a bad president, then wouldn't you want him on permanent vacation till he leaves the white house? You'll fit in good here with the other right wing whackos.

 

[FA_Q2]

Household income was lower when Bush left office than it was the day he became President too. So does Bushanomics create poverty too, chief?

The poverty rate consistently increased under Bush. Under Obama it has been statistically steady during the past 4 years.

The claim of this thread title is absurd. That said, one would have hoped poverty would decline and it has not.

Yes, it does.

That is what happens when you start 2 wars and try to tell the American people that they must not stop going to the mall otherwise the terrorists win. Somehow, though, I dont think the fact that Bush screwed the pooch alleviates the fact that Obama came in after and continued to screw things up.

 

[Missouri_Mike]

WASHINGTON (Reuters) - American household incomes lost ground last year and the poverty rate ticked up, a sign the U.S. economic expansion had yet to lead to gains for many Americans five years after the 2007-2009 recession.

The data released by the U.S. Census Bureau on Wednesday, which showed the inflation-adjusted median income slipping to $53,657 last year from $54,462 in 2013, offered a reminder of the tepid nature of the economy's recovery.

"In 2014, real median household income was 6.5 percent lower

than in 2007, the year before the most recent recession," Census researchers wrote.

At the same time, the poverty rate ticked up to 14.8 percent from 14.5 percent in 2013, the data showed. Census researchers said the changes in both the median income and poverty rate were not statistically significant.

The Census Bureau also said the number of people in the United States without health insurance coverage fell to 33 million last year, or 10.4 percent of the population, from 41.8 million, or 13.3 percent, in 2013.

White House economists welcomed the sharp drop in the number of uninsured, which reflected the impact of President Barack Obama's signature healthcare law, and a steep decline in the child poverty rate.

Obama was handed a disaster, he has dealt well.

He hasn't dealt at all you moron.

 

[The Rabbi]

WASHINGTON (Reuters) - American household incomes lost ground last year and the poverty rate ticked up, a sign the U.S. economic expansion had yet to lead to gains for many Americans five years after the 2007-2009 recession.

The data released by the U.S. Census Bureau on Wednesday, which showed the inflation-adjusted median income slipping to $53,657 last year from $54,462 in 2013, offered a reminder of the tepid nature of the economy's recovery.

"In 2014, real median household income was 6.5 percent lower

than in 2007, the year before the most recent recession," Census researchers wrote.

At the same time, the poverty rate ticked up to 14.8 percent from 14.5 percent in 2013, the data showed. Census researchers said the changes in both the median income and poverty rate were not statistically significant.

The Census Bureau also said the number of people in the United States without health insurance coverage fell to 33 million last year, or 10.4 percent of the population, from 41.8 million, or 13.3 percent, in 2013.

White House economists welcomed the sharp drop in the number of uninsured, which reflected the impact of President Barack Obama's signature healthcare law, and a steep decline in the child poverty rate.

Obama was handed a disaster, he has dealt well.

You dont get it. Obama took a difficult situation and made it worse. That is the only honest reading of the data here. Obama's economic policies are failures.

 

[The Rabbi]

Household income was lower when Bush left office than it was the day he became President too. So does Bushanomics create poverty too, chief?

The poverty rate consistently increased under Bush. Under Obama it has been statistically steady during the past 4 years.

The claim of this thread title is absurd. That said, one would have hoped poverty would decline and it has not.

Household income was $42,200 in 2001.
It was $52,029 in 2008.
You are simply making shit up. You dont have a clue.

 

[The Rabbi]

Household income was lower when Bush left office than it was the day he became President too. So does Bushanomics create poverty too, chief?

The poverty rate consistently increased under Bush. Under Obama it has been statistically steady during the past 4 years.

The claim of this thread title is absurd. That said, one would have hoped poverty would decline and it has not.

Today demographics, politics, and international affairs are a totally different scene.

And Obama has mismanaged all three.

No, he hasn't.

Of course that is your response. You're a blind fool.

Reducing irans nuclear capacity is totally horrible.. LOL.

Obama has not reduced Iran's nuclear capacity. Quit deflecting, asshole.

 

[Politico]

WASHINGTON (Reuters) - American household incomes lost ground last year and the poverty rate ticked up, a sign the U.S. economic expansion had yet to lead to gains for many Americans five years after the 2007-2009 recession.

The data released by the U.S. Census Bureau on Wednesday, which showed the inflation-adjusted median income slipping to $53,657 last year from $54,462 in 2013, offered a reminder of the tepid nature of the economy's recovery.

"In 2014, real median household income was 6.5 percent lower

than in 2007, the year before the most recent recession," Census researchers wrote.

At the same time, the poverty rate ticked up to 14.8 percent from 14.5 percent in 2013, the data showed. Census researchers said the changes in both the median income and poverty rate were not statistically significant.

The Census Bureau also said the number of people in the United States without health insurance coverage fell to 33 million last year, or 10.4 percent of the population, from 41.8 million, or 13.3 percent, in 2013.

White House economists welcomed the sharp drop in the number of uninsured, which reflected the impact of President Barack Obama's signature healthcare law, and a steep decline in the child poverty rate.

Obama was handed a disaster, he has dealt well.

LOL Obama created a disaster. Hopefully the nest guy will deal with it well.

 

[The Rabbi]

Republicans vowed to obstruct Obama since day one. So maybe blame the guys mentioned in the link below. Now, some almost, but not quite, intelligent right wingers on this message board know about this near treasonous meeting of repub politicians meeting with private citizens like gingrich and luntz. They vowed to, in effect, sabatoge Obama's presidency after bush left him with the biggest economic disaster since the republican depression of the thirties (that's what it was called back then). Still, said almost, but not quite, halfway intelligent right wingers such as the rabbi, can't seem to make the connection that if you block and stonewall everything the president does, then you're not going to have the booming economy we had before bushcheney ruined it.

The Conspiracy to Commit Legislative Constipation

Except Obama had a filibuster proof majority for the first 2 years during the recession, plus his pen and his phone.
So that meme is shot.

 

[Freewill]

Household income was lower when Bush left office than it was the day he became President too. So does Bushanomics create poverty too, chief?

The poverty rate consistently increased under Bush. Under Obama it has been statistically steady during the past 4 years.

The claim of this thread title is absurd. That said, one would have hoped poverty would decline and it has not.

Poverty Rate U.S. Poverty rate 1990-2013 | Statistic