As you can see from the chart, there are more people in poverty, the median household income has dropped, and the average income for the bottom fifth of American households has gone done. That is not a recovery.
The article reports:
A couple of months ago, he (President Obama) was in Wisconsin, crediting his policies for “record” job growth, tumbling deficits and big gains in the stock market.
“Step by step, America is moving forward,” he said. “Middle-class economics works. It works. Yes!”
It’s hard to see any evidence of that in the Census numbers. Indeed, the latest report shows that, despite more than six years of economic “recovery,” the middle class is, incredibly, worse off than at the end of the Great Recession.
From 2009 to 2014, real median household income dropped by more than $1,000 — or 2.3% — to $53,657. (And that decline would likely have been steeper if not for a 2013 change in the way the Census does its annual survey.)
Obama’s economy has been particularly harsh on those already at the bottom. Census data show that the bottom fifth of households saw their average income fall by 8% from 2009 to 2014.
Looked at another way, the share of households with incomes below $25,000 climbed from 22.4% to 23.6% over those years.
Among blacks, it went from 35.5% to 36.8%.
President Obama has practiced policies of increased taxation, overregulation, and crony capitalism. All of these policies waste money and inhibit economic growth. Our debt is growing, and if we do not change course in the next election, we will probably not survive as a country.