Wednesday, September 17, 2014

The stock market isn’t the whole story

On one of my feeds I saw a poster proclaiming all the economic successes of Obama since January 2009 (can't find it now).  And there's no doubt, those with investments have done well (mainly because of quantitative easing), and unemployment figures are nearing what he promised would happen in 2010.  However, the young, female and minority voters who voted heavily for him, still haven't benefited from his policies.

"Five years into an “economic recovery,” real median household income “is now 3.1 percent below that of June 2009 when the ‘great recession’ officially ended .. .  Single women with and without children present saw their incomes fall by roughly 5 percent.  Those age 25-34 experienced an income decline of 4.4 percent. Black heads of households saw their income tumble by 7.7 percent, while the income of Hispanic heads of households fell 5.6 percent. . The poor and unskilled saw their incomes fall by 7.4 percent for those with less than a high-school diploma and 8.2 percent for those with only a high-school diploma." [Stephen Moore, Patriot Post, Sept. 17, 2014]

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