Middle Class Gained under GWB, Lost with Obama

Libertine · August 25th, 2014, 09:17 AM

Household incomes are down and if you look at the chart below you can see that households enjoyed a healthy gain in net worth during the GWB years and a 40% drop with Obama.

Two numbers that show how badly America?s middle class is hurting - Vox

Medicine Man · August 25th, 2014, 09:32 AM

Quote:

Originally Posted by Libertine

Middle Class Gained under GWB, Lost with Obama

Whoops!!!

You forgot the body-count totals, for Iraq & Afghanistan.

(The 1%ers/high-roller$ have a tendency to overlook those, when working on their spreadsheets.)

BubbaJones · August 25th, 2014, 09:42 AM

Quote:

Originally Posted by Libertine

Household incomes are down and if you look at the chart below you can see that households enjoyed a healthy gain in net worth during the GWB years and a 40% drop with Obama.

Two numbers that show how badly America?s middle class is hurting - Vox

Uuuhhhhhmmmm excuse me, but didn't the economy tank while BUSH was still president ??? Didn't THE single largest economic down turn since the depression start before Obama took office ???

Didn't the deindustrialization of America (and the destruction of our income base) start more than 40 years ago ??

Corporations, specifically banks created the economic crisis.

Corporations, manufacturing, performed the deindustrialization of our country creating the resulting labor surplus.

Congress and every president has essentially ignored, or paid little more than lip service to the illegal situation for decades now. Adding to the labor surplus.

Is it any wonder that the average working person in this nation isn't keeping up ??

And now that SCOTUS has made corporation people too, corporations pumped $3.5 Billion dollars into the 2012 elections. They are expected to pour billions more into the next election cycles. Possibly exceeding $4 billion in 2016.

So tell us, whose really to blame for the current economic situation ??

Camelot · August 25th, 2014, 09:56 AM

Psst......turns out that home equity surge was a phony mirage. It would have been nice to see the 2008 figures when the marketplace figured out how phony it was.

Medicine Man · August 25th, 2014, 10:00 AM

Quote:

Originally Posted by BubbaJones

Uuuhhhhhmmmm excuse me, but didn't the economy tank while BUSH was still president ??? Didn't THE single largest economic down turn since the depression start before Obama took office ???

Yeah....nobody seems to have any interest in bragging about his last-three-years, alright.

I guess it's always possible that's when our debt.....

Quote:

....Really Started PILING-UP!!!

Medicine Man · August 25th, 2014, 10:09 AM

Quote:

Originally Posted by Camelot

Psst......turns out that home equity surge was a phony mirage. It would have been nice to see the 2008 figures when the marketplace figured out how phony it was.

How's January o' 2008????

Quote:

January 13, 2008

"The recession-deniers were muzzled by a horrendous last two weeks of December, and the gloom-and-doomers are now out in force. Their key arguments:

* Plummeting housing will now drag down the rest of the economy.

*The "bad debt" problem is not just "sub-prime" folks who should never have have taken out mortgages in the first place. It includes credit card debt, "high quality" mortgages, car loans, and other leverage that have recently become a consumer way of life.

*Pressure on consumers is leading to a reduction in consumer spending (70% of economy), which, in turn, will lead to a reduction in spending by companies that sell stuff to consumers.

*The question now is not "will there be a recession?" but "how bad will it get?"

*The most optimistic forecasts in a NYT gloom-and-doom round-up are for three crappy quarters, regardless of what the Fed does. Less optimistic forecasts suggest that we are, well, screwed.

After blowing the last downturn, we've been worried this one since last summer. We also suspect that, given the importance of housing to the economy and debt to consumer spending, the recession will be deeper and more prolonged than people think."

"U.S. Economy Screwed"

TNVolunteer73 · August 25th, 2014, 10:51 AM

Thanks medicine man.. Even after BUSH'S worst year..

MEDIAN INCOMES INCREASES

even after OBAMA'S BEST YEAR median incomes DECLINED.

Thanks for proving Obama really is WORSE than Bush.

When You smoke my friend, your Brain function plummets

Jimmyb · August 25th, 2014, 10:57 AM

Quote:

Originally Posted by BubbaJones

Uuuhhhhhmmmm excuse me, but didn't the economy tank while BUSH was still president ??? Didn't THE single largest economic down turn since the depression start before Obama took office ???

Didn't the deindustrialization of America (and the destruction of our income base) start more than 40 years ago ??

Corporations, specifically banks created the economic crisis.

Corporations, manufacturing, performed the deindustrialization of our country creating the resulting labor surplus.

Congress and every president has essentially ignored, or paid little more than lip service to the illegal situation for decades now. Adding to the labor surplus.

Is it any wonder that the average working person in this nation isn't keeping up ??

And now that SCOTUS has made corporation people too, corporations pumped $3.5 Billion dollars into the 2012 elections. They are expected to pour billions more into the next election cycles. Possibly exceeding $4 billion in 2016.

So tell us, whose really to blame for the current economic situation ??

The recession was no worse than the one Reagan dealt with.

Corporations have alway been protected under the Bill of Rights, it was just a short period when they were not and the court corrected that.

Who is to blame is Obama for the current state of the economy. You don't get the worse recovery in history without bad policies.

TNVolunteer73 · August 25th, 2014, 11:04 AM

Quote:

Originally Posted by BubbaJones

Uuuhhhhhmmmm excuse me, but didn't the economy tank while BUSH was still president ??? Didn't THE single largest economic down turn since the depression start before Obama took office ???

Didn't the deindustrialization of America (and the destruction of our income base) start more than 40 years ago ??

Corporations, specifically banks created the economic crisis.

Corporations, manufacturing, performed the deindustrialization of our country creating the resulting labor surplus.

Congress and every president has essentially ignored, or paid little more than lip service to the illegal situation for decades now. Adding to the labor surplus.

Is it any wonder that the average working person in this nation isn't keeping up ??

And now that SCOTUS has made corporation people too, corporations pumped $3.5 Billion dollars into the 2012 elections. They are expected to pour billions more into the next election cycles. Possibly exceeding $4 billion in 2016.

So tell us, whose really to blame for the current economic situation ??

YOu forgot, Bush had inherited a declining economy

starting 9 months prior to Bush Tanking office NASDAQ had lost 55% of its value Crashed from 5500 to ~2500, S&P and Dow had lost ~20% of its value..

And Bush Corrected that downfall..

even after our Finacial Sector was attacked by terrorists. Then even after one of the greatest natural disasters in US history.

His and the GOP's attempt to regulate the mortgage industry was blocked by Christ Dodd in Committee, which would have made the Mortgage crisis much less of a crash or could have prevented all together..

Libertine · August 25th, 2014, 12:29 PM

Quote:

Originally Posted by BubbaJones

Uuuhhhhhmmmm excuse me, but didn't the economy tank while BUSH was still president ??? Didn't THE single largest economic down turn since the depression start before Obama took office ???

Didn't the deindustrialization of America (and the destruction of our income base) start more than 40 years ago ??

Corporations, specifically banks created the economic crisis.

Corporations, manufacturing, performed the deindustrialization of our country creating the resulting labor surplus.

Congress and every president has essentially ignored, or paid little more than lip service to the illegal situation for decades now. Adding to the labor surplus.

Is it any wonder that the average working person in this nation isn't keeping up ??

And now that SCOTUS has made corporation people too, corporations pumped $3.5 Billion dollars into the 2012 elections. They are expected to pour billions more into the next election cycles. Possibly exceeding $4 billion in 2016.

So tell us, whose really to blame for the current economic situation ??

The US government carries most of the blame for the housing bubble which setup the crash.

You can see what the current administration has done about illegal immigration, opened the floodgates, hundreds of thousands have came across this year and were released into the US interior.

You should keep that in mind when you go in the voting booth.

August 25th, 2014, 09:17 AM	#1
Libertine Senior Member Join Date: Jun 2013 Location: Katmandu Posts: 4,911	Middle Class Gained under GWB, Lost with Obama Household incomes are down and if you look at the chart below you can see that households enjoyed a healthy gain in net worth during the GWB years and a 40% drop with Obama. Two numbers that show how badly America?s middle class is hurting - Vox

August 25th, 2014, 09:56 AM	#4
Camelot Talent on loan from god Join Date: Jun 2013 Location: Ohio Posts: 23,941	Psst......turns out that home equity surge was a phony mirage. It would have been nice to see the 2008 figures when the marketplace figured out how phony it was. Thanks from imaginethat

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August 25th, 2014, 10:51 AM	#7
TNVolunteer73 I'm debt free Join Date: Nov 2012 Location: Lebanon, TN Posts: 33,235	Thanks medicine man.. Even after BUSH'S worst year.. MEDIAN INCOMES INCREASES even after OBAMA'S BEST YEAR median incomes DECLINED. Thanks for proving Obama really is WORSE than Bush. When You smoke my friend, your Brain function plummets