The
current re-election campaign tactics being waged by the Obama team make
for some of the most bizarre in recent history, as the Obama campaign
attempts to focus solely on destroying its opponent, Mitt Romney, while
occasionally throwing in some made up statistic in defense of Barack
Obama's tenure. However, there is ample reason for this strategy:
namely, Obama's people have no other choice, as the economic plight of
the American people has reached crisis proportions.
An article in the New York Times spells out this dire scenario:
An article in the New York Times spells out this dire scenario:
Across the country, in almost every demographic, Americans earn less today than they did in June 2009, when the recovery technically started. As of June, the median household income for all Americans was $50,964, or 4.8% lower than its level three years earlier, when the inflation adjusted median income was $53,508.
The decline looks even worse when comparing today's incomes to those when the recession began in December 2007. Then, the median income was $54,916, meaning that incomes have fallen 7.2% since the economy last peaked.
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