Obamanomics GREAT For The 1% HORRIBLE For Everyone Else
Hellooooooooo Mainstream Media!! When will you be falling all over yourselves to report the horrific reality that is the Obama economy’s damage inflicted upon the poor and middle class of America? In fact, it appears no modern era president has seen such a growth in income equality than under Barack Obama. President Obama says he cares about the poor (and he says it often in speech after speech after speech) but his policies paint a very different reality.
(Millions of Americas continue to suffer under Barack Obama’s economic disaster)
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(via Investors.com)
Obama Calls Income Gap ‘Wrong’ — After Widening It
Obamanomics: The president has been decrying the growing gap between rich and poor in the U.S. to help sell his retread tax-and-spend proposals. But those policies have already produced record levels of income inequality.
In his speech in Illinois last week, and at events since, Obama described income inequality in the starkest terms. “This growing inequality is morally wrong,” he said, and “undermines the very essence of America.”
…But what Obama conveniently leaves out of his sermons is that income inequality has grown faster on his watch than any time in the past two decades, at least.
Research by University of California economist Emmanuel Saez shows that since the Obama recovery started in June 2009, the average income of the top 1% grew 11.2% in real terms through 2011.
The bottom 99%, in contrast, saw their incomes shrink by 0.4%.
As a result, 121% of the gains in real income during Obama’s recovery have gone to the top 1%. By comparison, the top 1% captured 65% of income gains during the Bush expansion of 2002-07, and 45% of the gains under Clinton’s expansion in the 1990s.
continue article at The Ulsterman Report:
http://theulstermanreport.com/2013/07/31/obamanomics-great-for-the-1-horrible-for-everyone-else/
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