Obama’s Legacy? Household Income Falls, Poverty Rate Ticks Up: “In 2014, real median household income was 6.5 percent lower than in 2007”

President Barack Obama meets with NSC chief of staff Denis McDonough about updates concerning the attempted terrorist on Christmas Day. This briefing occurred in Kailua, Hawaii on Dec. 29, 2009. The President has received updates throughout his vacation since the incident. (Official White House photo by Pete Souza)
Obama wondering what happened at his vacation home in Hawaii.

But we’re almost at full employment so that’s good right? Ha!

The truth is times remain hard for quite a good number of Americans. The Crash and subsequent recession hobbled many households. Many more people are on welfare and on food stamps than before the Crash. Many older people have just checked out of the workforce altogether. Many students are saddled in school debt. Many families in the suburbs remain quietly desperate.

But the crony class has boomed. Life is good (for many) in Washington DC and in New York, the 2 main nodes of cronyism in the USA.

The real economy has been regulated into stagnation.The government is too large. It must be cut. The economy needs fresh air. Time to turn the page on this self defeating economic policy, this era of expanded centralization and red tape. Time to get positive in every sense.

And just to be clear – this malaise didn’t start with Obama. He just took it to the next level.

(From Fox News)

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.

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