Thursday, September 27, 2012

Obamanomics Destroys Median (read Middle) Family Income....

Still trying to set the record straight vis a vis the talking points published by liberals.Much of what they write and believe is simply not true. For example, they were extolling how much Obama has helped middle class families, how he saved the auto industry, etc. Well, the facts fly in the face of this. For example, if we don't read from the Debbie Wasserman Schultz DNC talking points and look at research, we find that median household income just since Obama has taken over has dropped 8%, according to Sentier Research Group( Looking at the hard data a little more, we see that since the economic recovery technically began in June 2009, median household income has dropped 5.7 percent. As of August, that median income was $50,678 — also down 1.1 percent from the month prior. And since he took office in 2009, the median income has fallen 8.2 percent, from $55,198 to its present figure. “The August decline in real median annual household income is indicative of a struggling economy,” Sentier said in its report. “Even though we are technically in an economic recovery, real median annual household income is having a difficult time maintaining its present level, much less ‘recovering.’”

How is a drop in real median income (ie, the middle) helping the middle class? Let me doesn't matter because it is Bush's fault. On a side note, when is this President going to take responsibility for his failed policies? Everything from the weather to Bush to radiation accidents is blamed for the economy slowness, but never Mr. Obama. So, again, I pose to the Democrats: How is a drop in real median income for families helping the middle class?

Next, we hear about how Obama saved the American auto industry and how he helped auto workers. The rebound in some areas has been nice, but GM has not been doing that great, you know, Government Motors. Alot of the increase in jobs and recovery in the auto industry has come from Ford, which did not take bailout money and is still owned by private interests. Also, what did Obama do to help those who worked at Delphi in Dayton with their pensions? He is still freezing them out of legitimate claims against "old GM" as opposed to new GM, a company in which a Forbes article says is heading for another bankruptcy ( So, tell me again how Obama has helped the auto industry, when it appears GM is just as insolvent as ever, and the kicker? This time, we, the American people, will have to pay even more. From the Forbes article: "if he wins a second term, he is probably going to have to bail GM out again. The company is once again losing market share, and it seems unable to develop products that are truly competitive in the U.S. market.

Right now, the federal government owns 500,000,000 shares of GM, or about 26% of the company. It would need to get about $53.00/share for these to break even on the bailout, but the stock closed at only $20.21/share on Tuesday. This left the government holding $10.1 billion worth of stock, and sitting on an unrealized loss of $16.4 billion."

So, again, how is this something to be proud of?

And, regarding that job creation thing: President Barack Obama claimed he created more private-sector jobs in the past 27 months than President George W. Bush created “during the entire seven years before this crisis.” But that’s like comparing apples and mangoes. The president is absolving himself of responsibility for the savage recession he inherited, while assigning to Bush responsibility for the recession that began within weeks of his taking office in 2001.

The fact is, the economy has gained just about the same number of private-sector jobs (Obama’s preferred measure) in the 27 months since the most recent job slump hit bottom as it did in the 27 months following the bottom of the first Bush slump. And looking at total jobs — the broader and more customary measure — Bush’s post-slump job creation record was significantly better than Obama’s. Check out and see how Obama is playing sleight of hand. He hasn't created a single net new job. He may go down as the only president who left office with a net loss of jobs.

But yet, the democrats would have you believe Obama has helped the middle class. I don't see it. I don't think you do, either. We need a real change. And that is Romney and Ryan.