What Obama says matters because the Democratic hopefuls have all promised to continue his policies and then some. Another Democrat is four to eight more years of failed policies and a stalled economy.
Barack Obama gave a speech in Massachusetts on Monday attacking Republicans for the economy he has overseen for seven years:
“That ideology [Republican’s] is what’s been shrinking wages, and has been increasing inequality, and wrecking the economy, for a long, long time. We’ve been working to reverse it, but these folks are pretty stubborn. I will give them credit. They don’t let facts or evidence get in their way! They really don’t.”
Think of the audacity of the man. He is damaging the economy with tax and spend policies and then blames the party that hasn’t had any input into it.
Obama’s legacy is of a jobless recovery. Most jobs created under his administration have been part-time or lower-level jobs.
Middle income wages have declined. Obama has increased the income inequality in this country.
The Fed’s Survey of Consumer Finances shows that between 2010 and 2013, as recovery took hold and stock markets soared, the average net worth of families in the top 40 percent of income earners grew. For all others average net worth shrank, declining 19 percent for the middle fifth.
Similarly, the average earnings for families in the top 10 percent grew more than 9 percent from 2010 through 2013, while those at other levels stagnated or shrank. For the middle fifth, average earnings fell 4.6 percent.
Over the six years through 2013, the middle fifth’s average annual family earnings fell to $47,243 from $53,008 while their average net worth dropped to $170,066 from $236,525.
U.S. jobs pay an average 23% less today than they did before the 2008 recession, according to a report by the Conference of Mayors in August, 2014.
Obamacare has hurt the middle class. Premiums are going up and workers have seen their hours at work cut. More than half-a-trillion in new taxes were added to pay for Obamacare and much of it hit the middle class, not just the rich.
College costs are skyrocketing because of the easy government loan money which this administration has made easier. Colleges don’t have to tighten their belts because students can take out more loans.
Our so-called free trade has not protected American goods with American workers losing jobs overseas and manufacturing in the U.S. declining.
Immigration is hurting Americans but the left supports unbridled immigration. Government data show that since 2000 all of the net gain in the number of working-age (16 to 65) people holding a job has gone to immigrants (legal and illegal). This is despite the fact that native-born Americans accounted for two-thirds of the growth in the total working-age population.
The Feds are printing money and eventually we will have inflation, which most definitely hurts the middle class and their much-needed savings.
So Barack Obama can stand up at the podium and make cracks about Republicans but informed voters know his leftist policies of regulations, wild spending and heavy taxation have helped shrink the middle class. This is his economy, not George Bush’s, not the Republicans’, it’s his and he has ruled over it unilaterally.