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27 Facts That Show How The Middle Class Has Fared Under 6 Years Of Barack Obama

Tyler Durden's picture




 

Submitted by Michael Snyder via The Economic Collapse blog,

During his State of the Union speech on Tuesday evening, Barack Obama is going to promise to make life better for middle class families.  Of course he has also promised to do this during all of his other State of the Union addresses, but apparently he still believes that there are people out there that are buying what he is selling.  Each January, he gets up there and tells us how the economy is “turning around” and to believe that much brighter days are right around the corner.  And yet things just continue to get even worse for the middle class. 

The numbers that you are about to see will not be included in Obama’s State of the Union speech.  They don’t fit the “narrative” that Obama is trying to sell to the American people.  But all of these statistics are accurate.  They paint a picture of a middle class that is dying.  Yes, the decline of the U.S. middle class is a phenomenon that has been playing out for decades.  But without a doubt, our troubles have accelerated during the Obama years.  When it comes to economics, he is completely and utterly clueless, and the policies that he has implemented are eating away at the foundations of our economy like a cancer.

The following are 27 facts that show how the middle class has fared under 6 years of Barack Obama…

#1 American families in the middle 20 percent of the income scale now earn less money than they did on the day when Barack Obama first entered the White House.

#2 American families in the middle 20 percent of the income scale have a lower net worth than they did on the day when Barack Obama first entered the White House.

#3 According to a Washington Post article published just a few days ago, more than 50 percent of the children in U.S. public schools now come from low income homes.  This is the first time that this has happened in at least 50 years.

#4 According to a Census Bureau report that was recently released, 65 percent of all children in the United States are living in a home that receives some form of aid from the federal government.

#5 In 2008, the total number of business closures exceeded the total number of businesses being created for the first time ever, and that has continued to happen every single year since then.

#6 In 2008, 53 percent of all Americans considered themselves to be “middle class”.  But by 2014, only 44 percent of all Americans still considered themselves to be “middle class”.

#7 In 2008, 25 percent of all Americans in the 18 to 29-year-old age bracket considered themselves to be “lower class”.  But in 2014, an astounding 49 percent of all Americans in that age range considered themselves to be “lower class”.

#8 Traditionally, owning a home has been one of the key indicators that you belong to the middle class.  So what does the fact that the rate of homeownership in America has been falling for seven years in a row say about the Obama years?

#9 According to a survey that was conducted last year, 52 percent of all Americans cannot even afford the house that they are living in right now.

#10 After accounting for inflation, median household income in the United States is 8 percent lower than it was when the last recession started in 2007.

#11 According to one recent survey, 62 percent of all Americans are currently living paycheck to paycheck.

#12 At this point, one out of every three adults in the United States has an unpaid debt that is “in collections“.

#13 When Barack Obama first set foot in the Oval Office, 60.6 percent of all working age Americans had a job.  Today, that number is sitting at only 59.2 percent…

Employment Population Ratio 2015

#14 While Barack Obama has been in the White House, the average duration of unemployment in the United States has risen from 19.8 weeks to 32.8 weeks.

#15 It is hard to believe, but an astounding 53 percent of all American workers make less than $30,000 a year.

#16 At the end of Barack Obama’s first year in office, our yearly trade deficit with China was 226 billion dollars.  Last year, it was more than 314 billion dollars.

#17 When Barack Obama was first elected, the U.S. debt to GDP ratio was under 70 percent.  Today, it is over 101 percent.

#18 The U.S. national debt is on pace to approximately double during the eight years of the Obama administration.  In other words, under Barack Obama the U.S. government will accumulate about as much debt as it did under all of the other presidents in U.S. history combined.

#19 According to the New York Times, the “typical American household” is now worth 36 percent less than it was worth a decade ago.

#20 The poverty rate in the United States has been at 15 percent or above for 3 consecutive years.  This is the first time that has happened since 1965.

#21 From 2009 through 2013, the U.S. government spent a whopping 3.7 trillion dollars on welfare programs.

#22 While Barack Obama has been in the White House, the number of Americans on food stamps has gone from 32 million to 46 million.

#23 Ten years ago, the number of women in the U.S. that had full-time jobs outnumbered the number of women in the U.S. on food stamps by more than a 2 to 1 margin.  But now the number of women in the U.S. on food stamps actually exceeds the number of women that have full-time jobs.

#24 One recent survey discovered that about 22 percent of all Americans have had to turn to a church food panty for assistance.

#25 An astounding 45 percent of all African-American children in the United States live in areas of “concentrated poverty”.

#26 40.9 percent of all children in the United States that are living with only one parent are living in poverty.

#27 According to a report that was released late last year by the National Center on Family Homelessness, the number of homeless children in the United States has reached a new all-time record high of 2.5 million.

Unfortunately, this is just the beginning.

The incredibly foolish decisions that have been made by Obama, Congress and the Federal Reserve have brought us right to the precipice of another major financial crisis and another crippling economic downturn.

So as bad as the numbers that I just shared with you above are, the truth is that they are nothing compared to what is coming.

We are heading into the greatest economic crisis that any of us have ever seen, and it is going to shock the world.

I hope that you are getting ready.

 

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Mon, 01/19/2015 - 18:20 | 5681331 Zero_Head
Zero_Head's picture

Thas raycessists to criticize Obama

Mon, 01/19/2015 - 18:35 | 5681377 drendebe10
drendebe10's picture

Standing ovation for a job well done by the divisive corrupt incompetent arrogant narcissistic illegal indonesian kenyan alien muslim sociopathic pathological liar in chief fudgepacker who only cares about its celebrity grand imperial golf lifestyle on the backs of tax paying U.S. citizen serfs & peasants. 

Mon, 01/19/2015 - 18:46 | 5681416 Truther
Truther's picture

Obama: "We've middle-fingered some folks."

Mon, 01/19/2015 - 20:20 | 5681724 gimme-gimme-gimme
gimme-gimme-gimme's picture

Just another dog and pony show to misdirect the masses.  Nice to know ZH hates us.

Tue, 01/20/2015 - 06:29 | 5683024 Hopeless for Change
Hopeless for Change's picture

The fact that you're paranoid doesn't discount the fact that everybody really does actually hate you.

Mon, 01/19/2015 - 18:51 | 5681432 dimwitted economist
dimwitted economist's picture

Well, we have not Filed for Bankruptcy YET so Ha! looks like we're doing OK (today!) < Not going to be Racist!

Mon, 01/19/2015 - 18:20 | 5681336 disabledvet
disabledvet's picture

"Market opens down a thousand points, euro trades at twenty cents on the dollar.

 

The stage is yours!"

Mon, 01/19/2015 - 18:26 | 5681358 SpanishGoop
SpanishGoop's picture

Find me a broker that won't go belly up on those numbers and i will take those trades.

 

Mon, 01/19/2015 - 18:46 | 5681390 medium giraffe
medium giraffe's picture

Long XAU/EUR and take delivery. 

http://stooq.com/q/?s=xaueur&c=1y&t=l&a=lg&b=0

Mon, 01/19/2015 - 18:50 | 5681428 Truther
Truther's picture

Clint: "Go ahead... Make my day."

Mon, 01/19/2015 - 18:49 | 5681422 Bangin7GramRocks
Bangin7GramRocks's picture

Blaming him for the death of the middle class is like blaming the counter Punjab at the 7-Eleven because there isn't any hair on the pussies in the skin mags.

Mon, 01/19/2015 - 19:10 | 5681507 Bangin7GramRocks
Bangin7GramRocks's picture

I see. You fellas like it clean. That's cool too!

Mon, 01/19/2015 - 20:26 | 5681751 quasimodo
quasimodo's picture

You do raise a valid point Bangin, that train left the station before the imposter stepped foot in the WH. I will say however the downward spiral velocity has increased under the current admin. and his cronies.

Mon, 01/19/2015 - 18:22 | 5681339 profchaos
profchaos's picture

Middle class should have voted for the leveraged buyout guy, because that's the kind of guy who really cares about the plight of the working class.

Mon, 01/19/2015 - 18:32 | 5681362 Yao
Yao's picture

We could have done worse than Romney, we always have.

Mon, 01/19/2015 - 19:59 | 5681664 Larry Dallas
Larry Dallas's picture

Right, becuase as we've seen now, Negroeconomics is working; Rob from the middle class to buy the votes from the poor and non-productive.

What this author forgot to mention how many of those kids in poverty are still starving in scholl because of Michelle's nazi lunch program. Eat your fuckin' peas, "Murica. You voted!

Go ahead and downvote, because its true.

Mon, 01/19/2015 - 18:23 | 5681344 ebworthen
ebworthen's picture

If you own a home, two cars, and enough savings to survive six months you are upper middle class approaching the top 10%.

Mon, 01/19/2015 - 18:46 | 5681409 MyKillK
MyKillK's picture

And I'd bet the vast majority of those people worked their prime working years back when a single-worker income was more than sufficient and savings accounts actually paid a decent bit over the rate of inflation. The 30-and-under crowd is screwed.

Mon, 01/19/2015 - 19:44 | 5681623 Ward cleaver
Ward cleaver's picture

At 60 years old I can assure you that
this post is spot on.

Tue, 01/20/2015 - 06:38 | 5683032 Hopeless for Change
Hopeless for Change's picture

And still the leftist trolls come out of their foxholes to take pot shots at Mitt Romney. Logic be damned, they are full libtard to the bitter end.

Mon, 01/19/2015 - 18:51 | 5681430 Kaiser Sousa
Kaiser Sousa's picture

who cares about what class ur in...

question is how much real money do u own....

"The week ahead is big in terms of market volatility, and investors are deciding on which safe haven to park their cash in.

"This week is likely to be the biggest week in terms of economic news since the announcement of QE3 by the Federal Reserve in September 2012," noted Evan Lucas, market strategist at IG, referring to Chinese fourth-quarter growth data on Tuesday and interest rate decisions from the European Central Bank, the Bank of England, the Bank of Japan and the Bank of Canada.

Meanwhile, markets remain spooked following last week's decision by the Swiss National Bank to remove its currency cap, which sent the Swiss franc nearly 30 percent higher against the euro.

Tell us which safe-have asset you like amid all these risk events.

Which safe-haven asset are you buying?

Swiss franc

13%

Yen

6%

Gold

81% Total Votes: 5730

Not a Scientific Survey. Results may not total 100% due to rounding.

http://www.cnbc.com/id/102347930

Mon, 01/19/2015 - 19:43 | 5681626 The Gooch
The Gooch's picture

Need MOAR snipers.

stat.

Mon, 01/19/2015 - 18:33 | 5681355 Rainman
Rainman's picture

Sorry ...this is good as it gets from ....... ' a light-skinned African American with no Negro dialect ,  unless he wanted to have one ' ( Harry Reid 2008 ) 

Blue Team bona-fides

Mon, 01/19/2015 - 18:27 | 5681357 p00k1e
p00k1e's picture

Boehner has got this.  We’re all going to be on easy street, as soon as that fence is re-repaired. 

Mon, 01/19/2015 - 18:29 | 5681361 foodstampbarry
foodstampbarry's picture

What's killing this country is not Obama, it's the idiots who voted for him.

Mon, 01/19/2015 - 18:33 | 5681372 deeply indebted
deeply indebted's picture

Or maybe it's the greedy fraudulent TBTF fucks taking advantage of the idiots who voted for this idiot? It's all relative, I suppose ;-)

Mon, 01/19/2015 - 18:43 | 5681394 foodstampbarry
foodstampbarry's picture

A country that thinks Barak Obama (a community organizer, communist) is prefectly fit to lead the most powerful nation on earth deserves to fail.

Mon, 01/19/2015 - 18:57 | 5681453 deeply indebted
deeply indebted's picture

Sure. I didn't say otherwise. Out of curiosity though, what makes you think the U.S. is still the "most powerful nation on earth?"

Mon, 01/19/2015 - 19:36 | 5681596 Bollixed
Bollixed's picture

Obviously it's our exceptionalism. You can't beat that...

Mon, 01/19/2015 - 23:11 | 5682441 InvalidID
InvalidID's picture

 

 Poor but armed to the teeth.... We're the most powerful because we can kill the most people. I supose power is a relative term though.

Mon, 01/19/2015 - 20:34 | 5681782 quasimodo
quasimodo's picture

I beg to differ. The PEOPLE who voted for him deserve to fail. Guilty by association am I? Perhaps, but I will not be lumped in the same category as that POS and his ilk.

Mon, 01/19/2015 - 20:58 | 5681864 Flatchestynerdette
Flatchestynerdette's picture

@foodstampberry - O is back to 50% approval. People feel good about the job market and getting raises. I don't know when 'reality' is supposed to set in but those that knew before are not those that get their info from twitter or sign up to get their hardcore info from twitter and so they are susceptible to happy-happy-joy-joy feelings being given to them by those 'channels' they chose to follow. O's people have said they're trageting 20something college age b/c they're the most hopeful (and most gullible imo). tomorrow's sotu speech is going to be about Robin Hood who did not steal from the rich and give to the poor. He stole from the government overlords and gave back to the people. The metaphor is all wrong but nobody knows the real story of Robin Hood. Just like nobody knows the real story of a push for a $15/hour 'living wage' means a lot of small businesses going bankrupt and since small business people can't go on unemployment they'll have to start looking for a $15/hour job. Good luck until they're at a food bank. 

Mon, 01/19/2015 - 21:58 | 5682071 TeethVillage88s
TeethVillage88s's picture

"push for a $15/hour 'living wage'"

- Right now I believe that any talk of Minimum wage should be linked with discussion about reducing costs of living
- In the USA the Capitalists & Neoliberal Economists don't want to talk about the cost of living increases, the causes, the industry that should be protected from market forces & futures contracts
- Inflation is clear in Government Wages & Private Executive Wages
- Inflation is clear in Health Care, Housing, Education & Tuition, and loss of Retirement, Pension, 401K Accounts, Savings Interest Rates (LIRP/ZIRP), and in Money Creation by TBTF Banks

WTF. Why should we let Chartered Banks Create Money out of Thin Air, Lend it to us at high interest Rates, then claim all our assets for their own if we fail or go bankrupt???

Is Credit & Money a Utility?

If Wall Street banks get to Create Money out of Thin Air due to a special permission by the Federal Government... well they need to stay small so that we are not paying for high Executive Wages & Golden Parachutes.

If we the USA grant Charters to Corporations, we need to make sure they don't get so big that they loot other corporations, loot other corporate assets through LBOs, and make sure that Wealthy Interests don't hoard not only the monopoly of creating FIAT, but also hoarding the Capital them make off-shore or in Trust Accounts for Executives (like Mitt Romney)

Yeah.

Mon, 01/19/2015 - 21:34 | 5681982 TeethVillage88s
TeethVillage88s's picture

Dude, how old were you when G.W. Bush manufactured 911 & the Iraqi War... Did you notice the Military Contract Give-a-ways? Did you notice money going missing, fraudulent contracts? Did you not know that MIC is the biggest Corrupt Sector of Government unless you look at Medical Costs?

Check out the Wages for Contractors in Kosovo & Bosnia, I heard it was like $80K a year for someone who swept a broom in a Warehouse, did you hear how Dynacorp employees were buying and selling sex slaves in the region?

- Harry Truman was Investigating Corruption in War Contractors for the Department of War way before World War II
- Smedley Butler wrote a book about it, War Is A Racket
- USA was using it's Military to put down worker strikes and problems with management in the Caribbean, Central, and South America in the 1800s

It was Ever Thus.

- Everything is Money, all is Systemically Corrupted, you name it

Federal Health Care Lobbying (2009-2010)

- American Hospital Association = $37.8 Million
- America's Health Insurance Plans = $18.2 Million
- American Medical Association = $ 43.3 Million
- Pharmaceutical Research & Manufactures = $47.9 Million

I thought this one was more of an unbiased Research organization, American Medical Association

Mon, 01/19/2015 - 18:44 | 5681400 Jstanley011
Jstanley011's picture

It's both. In military strategy and tactics it's called a pincer movement, and in this case, it's the middle class caught in the middle. See also...

    Battle of St. Vith
    Battle of Medellín
    Battle of Marathon
    Battle of Moscow
    Battle of the Trebia
    Battle of Cannae
    Battle of Walaja
    Battle of Manzikert
    Battle of Cowpens
    Battle of Fraustadt
    Battle of San Lorenzo
    Battle of Toulouse (721)
    Battle of Kawanakajima (1561)
    Battle of Agh-Darband
    Second Bull Run (1862)
    Battle of Tannenberg (1914)
    Battle of Khalkhin Gol (operational envelopment)
    Battle of Stalingrad (strategic envelopment)
    Manchurian Strategic Offensive Operation
    Six-Day War
    Operation Beit ol-Moqaddas
    Operation Postern

Mon, 01/19/2015 - 18:33 | 5681375 Hulk
Hulk's picture

Dude !!! He wasn't voted in, he was inserted. Votes haven't counted in at least a decade...

Mon, 01/19/2015 - 18:29 | 5681366 deeply indebted
deeply indebted's picture

So... Not "transitory?"

Mon, 01/19/2015 - 18:29 | 5681367 Just Another Truther
Just Another Truther's picture

God Bless this Recovery. 5% GDP Growth Baaaaabbyyy!! Murica

Mon, 01/19/2015 - 18:34 | 5681376 MyKillK
MyKillK's picture

#15 It is hard to believe, but an astounding 53 percent of all American workers make less than $30,000 a year.

This statistic is only going to get worse as corporate America continues to take more and more market share from locally owned businesses that pay decent wages. Corporate America which relies on HR specialists to systematically nickel-and-dime Middle America's wages down into the gutter. Obamacare is being funded directly out of middle class wages.

Mon, 01/19/2015 - 19:40 | 5681612 Ward cleaver
Ward cleaver's picture

Not that hard; $10/hr x 29.5 hrs/week. With corporations
utilizing zip to buy back stock, utilizing technology to
replace good middle class salaried jobs, utilizing outsourcing
to pay $.80/hr offshore and a lame duck president that
could care less about the middle class, that number
should b increasing over the future years. We have lost our way.

Mon, 01/19/2015 - 18:40 | 5681384 JustObserving
JustObserving's picture

Obama's first job out of college was working for Business International Corporation, a CIA-front company.  So Obama has always represented the deep state, the cabal that controls the government in the land of the free.  So now the top 0.1% have more wealth than the bottom 90% - Obama has served his masters well.

 

He has also prosecuted more whistleblowers than all other presidents combined.  And always defended the CIA from allegations of torture and  excessive spying including its unconstitutional spying on the senate.

 

Behind whitewash of CIA spying: The trail leads to the White House

 

Only a day after the final CIA whitewash of its unconstitutional spying on the Senate Intelligence Committee, documents released by the agency reveal that the Obama White House knew in advance that CIA operatives had been ordered to investigate the legislative panel, which has legal responsibility for overseeing the agency.

http://wakeupfromyourslumber.com/behind-whitewash-of-cia-spying-the-trai... 

 

Obama defends CIA torturers

President Barack Obama went before the television cameras Friday afternoon to defend CIA Director John Brennan and the agency itself, while admitting for the first time that the CIA tortured prisoners at secret “black site” prisons. “We tortured some folks,” Obama declared almost casually. He then proceeded to excuse and justify the torturers.

http://www.wsws.org/en/articles/2014/08/02/pers-a02.html

Mon, 01/19/2015 - 18:38 | 5681386 The Shape
The Shape's picture

I'll get voted down, but if you're still talking about it as an Obama problem you're a moron and you're playing into their hands.

 

Obama. Romney. Fozz E. Bear. Same result.

Though I have some faith Fozz E. wouldn't tell me a lie.

Mon, 01/19/2015 - 18:39 | 5681388 rsnoble
rsnoble's picture

"Well do you think that speech was good enough to buy us another year of maritinis, lavish vacations and endless whores?  Can I fly the drone tommorow?"

Mon, 01/19/2015 - 18:42 | 5681393 rsnoble
rsnoble's picture

Also......sounds like grate growth prospects for lawyers, cops and prisons.  Much like the healthcare biz that treats the symptons not the cause.

Fucking hellhole in the making.

Mon, 01/19/2015 - 18:51 | 5681435 Jstanley011
Jstanley011's picture

Ethiopia ($570 Nominal GDP per capita in 2014), Western Annex.

Mon, 01/19/2015 - 18:48 | 5681426 Katastrofenhausse
Katastrofenhausse's picture

The virus of centrally planned monetary intervention has been advancing for a hundred fucking years, sometimes faster than others. 0bama is just a symptom of the disease.

 

 

Mon, 01/19/2015 - 18:51 | 5681438 OldBoy
OldBoy's picture

If the number of folk in their peak spending years is shrinking then wouldn't the economy naturally shrink along with it. It's painful but I can't see giving anyone credit for the facts of basic arithmetic

Mon, 01/19/2015 - 19:08 | 5681496 Latitude25
Latitude25's picture

This headline implies that Obama actually contols ANYTHING.

Mon, 01/19/2015 - 19:25 | 5681558 Grimaldus
Grimaldus's picture

Well Lookie what we got here, it's a goddamn progressive utopia!

/s

Grimaldus

Mon, 01/19/2015 - 19:43 | 5681625 TeethVillage88s
TeethVillage88s's picture

#21 From 2009 through 2013, the U.S. government spent a whopping 3.7 trillion dollars on welfare programs.

- Looks like I need to do more digging, like the work here, I'm seeing you use Trust Funds paid into by workers, Plus Department of Education is pretty much all welfare but is only $100 Billion a year (Growing fast), DHS is like Corporate Welfare, International Assistance is like Welfare for Foreigners

Total—Department of Housing and Urban Development Outlays 2014 = $42.04 Billion
Total—Department of Housing and Urban Development Outlays 2013 = $59 Billion
Total—Department of Housing and Urban Development Outlays 2000 = $42.5 Billion
Total—Department of Housing and Urban Development Outlays 1998 = $51.7 Billion

2014 HHS Temporary Assistance for Needy Families TANF outlays = $16.267 Billion
2013 HHS Temporary Assistance for Needy Families TANF outlays = $17.107 Billion
2008 HHS Temporary Assistance for Needy Families TANF outlays = $17.532 Billion
2004 HHS Temporary Assistance for Needy Families TANF outlays = $17.725 Billion
2000 HHS Temporary Assistance for Needy Families TANF outlays = $15.464 Billion
- Oh, Obama wants to increase tax credits, he has never seen my work apparently

IRS, Payment where earned income credit exceeds liability for tax 2014 = $60.09 Billion
IRS, Payment where earned income credit exceeds liability for tax 2013 = $57.5 Billion
IRS, Payment where earned income credit exceeds liability for tax 2000 = $26 Billion
IRS, Payment where earned income credit exceeds liability for tax 1998 = $23.2 Billion

IRS, Payment Where Child Tax Credit Exceeds Liability for Tax 2014 = $21,49 Billion
IRS, Payment Where Child Tax Credit Exceeds Liability for Tax 2013 = $21.6 Billion
IRS, Payment Where Child Tax Credit Exceeds Liability for Tax 2000 = $806 Million (Million)
IRS, Payment Where Child Tax Credit Exceeds Liability for Tax 1998 = Zero.....

2014 Federal Outlays for SNAP, Child Nutrition, & WIC = $102 Billion
2013 Federal Outlays for SNAP, Child Nutrition, & WIC = $109 Billion
2008 Federal Outlays for SNAP, Child Nutrition, & WIC = $60 Billion
2004 Federal Outlays for SNAP, Child Nutrition, & WIC = $45 Billion
2000 Federal Outlays for SNAP, Child Nutrition, & WIC = $32 Billion
1998 Federal Outlays for SNAP, Child Nutrition, & WIC = $33 Billion

Department of Health and Human Services (MEDICAID):
2014 Outlays Federal Grants to States for Medicaid = $301 Billion
2013 Outlays Federal Grants to States for Medicaid = $256 Billion
2008 Outlays Federal Grants to States for Medicaid = $201 Billion
2004 Outlays Federal Grants to States for Medicaid = $176 Billion
2000 Outlays Federal Grants to States for Medicaid = $118 Billion
1998 Outlays Federal Grants to States for Medicaid = $101 Billion
--

http://research.stlouisfed.org/fred2/series/B087RC1Q027SBEA (Federal Current Transfer payments)

Federal government current transfer payments: Government social benefits: To persons
2014:Q3: 1,873.1 Billions of Dollars
B087RC1Q027SBEA, Updated: 2014-12-24

Mon, 01/19/2015 - 19:44 | 5681632 j8h9
j8h9's picture

While I dont disagree with the headline or content, it is LAUGHABLE to believe things would be BETTER under BUSH/CHENEY or Republicans who believe in completely abandoning the under-classes (including the middle class). At least the poor have some medical care--they are paying for it--rather than running the emergency room and having US TAX payers foot the bill. Want to make lives better-- endorse raising the MIN wage, endorse HIGHER taxes for the 1%.

Mon, 01/19/2015 - 19:57 | 5681666 Accounting101
Accounting101's picture

Exactly! The destruction of the middle class has been ongoing for the last 40 years. Obama is doing the bidding of TPTB just like has predecessors.

Mon, 01/19/2015 - 20:14 | 5681704 mcsean2163
mcsean2163's picture

ZH is losing the plot...

Mon, 01/19/2015 - 21:10 | 5681905 TeethVillage88s
TeethVillage88s's picture

Well Bush/Cheney would make it better for Government, Military, employees and Contractors. I think there are 2 Million Federal Employees, some probably don't work at all and are just being paid. Then in war I think we had 1 Million contractors, but many were foreign workers. So I'd say 2.5 Million clear winners of the Military Republic War Economy... and there families... and any banks that put life insurance policies on them that paid off.

Romney strikes me as someone gaming the system with his off shore trust, his financial schemes, and likely his vulture capitalism. Romney would be a winner under Bush/Cheney.

Many of those retired Colonels, Generals, and other Officers and NCOs... they find work in the MIC. And those Right Wing Think Tanks, winners.

- Illegal Immigrants, Winners.
- Businesses have to compete with black market labor, there maybe some losers here, people give up their honor and integrity when they are forced to give up friends for illegal workers
- But there are many corporate winners to Bush/Cheney, they can be shown by their contributions to the Chamber of Commerce, who lobbied for open borders, off shoring

Mon, 01/19/2015 - 21:43 | 5682003 j8h9
j8h9's picture

Illegal immigration could be solved by passing one simple law. THAT is fines for business who employ them. Say for every illegal immigrant found to be working in your factory, the business is fined $2000 per day.

Mon, 01/19/2015 - 22:06 | 5682110 plane jain
plane jain's picture

+100

Business benefits from being able to exploit illegals. That is why it is so funny that closing the border/cracking down on illegal aliens is a Republican hobby horse. 

Honestly seems to me that TPTB want the cheap labor, the increased population/consumption, the FICA taxes paid in, but not claimed. And then the same crowd likes to holler about the costs to schools and emergency rooms. In reality just another round of privatize the profits, socialize the losses.

Mon, 01/19/2015 - 22:21 | 5682208 TeethVillage88s
TeethVillage88s's picture

Jainism is good

In reality I'm not sure the Federal Government intends to pay back any of it's $18.1 Trillion in Debt.

- PACS, Think Tanks, Foundations are political Posers, Acting is their gig... It is like starting a Study with a Bias - magic the study matches our previous assumption
- Many Political Players are TV & Radio Talk Show Hosts, the come with an Agenda to Entertain, but they have no rules about accepting dollars and sponsorship from Foundations, Think Tanks, Foundations
- Much news is Entertainment
- CIA now has Permission to produce Propaganda for the USA
- US Congress is a dog & pony show everyday while the cameras are operational

Where is the Truth?

Transparency, Auditing is only possible with Standardized Financial Instruments, unbiased financial ratings agencies, Standardized Accounting (GAAP), and a strong free press that isn't worried about debt, college debt, and low demand for US Unskilled & Skilled Labor.

But I am not an Economist.

Mon, 01/19/2015 - 22:08 | 5682126 TeethVillage88s
TeethVillage88s's picture

Well yes. But them you have to please all the existing political interest groups.

- Would it be laws at the State, County level, or... would you force it down from the federal level (lots of people are not against federal powers and Federalism)

I grew up mainly thinking it was good to have Federal Laws for Civil Rights, Worker Rights, Work Place Safety... now we have to review all that, and we have to enforce these laws on Foreign Governments... since we can't realistically audit Off Shore Production/Manufacturing

- How do we Implement laws against Black Market Labor
- How do we protect US Businesses that loss Cheap Labor from Overseas?
- Can we impose Tariffs and End Free (Slave) Trade?
- How Else should we protect US Workers from Slave Labor or Black Market Labor??

Personally I doubt that the Wealthy want to end Free (Slave) Trade... but if the people want a change and have a plan, the plan might sell. IT WOULD BE REVOLUTIONARY

Mon, 01/19/2015 - 23:44 | 5682551 drendebe10
drendebe10's picture

Correction. Poor aren't paying for their care. Their obamascare premiums are subsidized by tax paying U.S. citizens. 

Mon, 01/19/2015 - 23:45 | 5682552 drendebe10
drendebe10's picture

Correction. Poor aren't paying for their care. Their obamascare premiums are subsidized by tax paying U.S. citizens. 

Tue, 01/20/2015 - 00:39 | 5682674 j8h9
j8h9's picture

I know of an entire crew that lives off the grid in IN. None pay for health insurance, Whenever they sick, toothache. they go to emergency room and never pay anything. Thats US Tax Payer dollars. And they are hard right wing tea partieres, lol. the irony

Tue, 01/20/2015 - 07:00 | 5683044 Hopeless for Change
Hopeless for Change's picture

Sounds to me like they are winning.

Mon, 01/19/2015 - 20:00 | 5681673 HedgeBoss
HedgeBoss's picture

Economy is NOT collapsing, you are collapsing Michael Synder.

Mon, 01/19/2015 - 21:16 | 5681923 acetinker
acetinker's picture

You're right, the economy isn't collapsing- but only because Wile E. hasn't bothered to look down and hold up his OH SHIT! sign.

Mon, 01/19/2015 - 20:12 | 5681699 Rusty Trombone
Rusty Trombone's picture

We continued to dry fuck some folks in the ass....

Mon, 01/19/2015 - 20:23 | 5681748 Rusty Trombone
Rusty Trombone's picture

Fuck you hasbara cocksucker..or are you Jordanian? An even bigger group of tax parasites on my labor.

Mon, 01/19/2015 - 20:25 | 5681749 Rusty Trombone
Rusty Trombone's picture

Fuck you hasbara cocksucker..or are you Jordanian? An even bigger group of tax parasites on my labor.

Mon, 01/19/2015 - 21:18 | 5681930 acetinker
acetinker's picture

Maybe it's just me, but it looks as if you just advised yourself to go fuck yourself, twice.

Mon, 01/19/2015 - 20:13 | 5681700 mcsean2163
mcsean2163's picture

George Bush destroys the US economy and this article blames Barack Obama.  

Very teaparty, such crazy, many zerohedge, is USA.

Mon, 01/19/2015 - 20:46 | 5681816 Katastrofenhausse
Katastrofenhausse's picture

Welcome to One Party Rule, it's only been going on for the past 50+ years or so. Where have you been?

 

... The argument that the two parties should represent opposed ideals and policies, one, perhaps, of the Right and the other of the Left, is a foolish idea acceptable only to the doctrinaire and academic thinkers. Instead, the two parties should be almost identical, so that the American people can “throw the rascals out” at any election without leading to any profound or extreme shifts in policy...

-Carrol Quigley Tragedy and Hope: A History of the World in Our Time,  (New York: Macmillan, 1966), pp. 1247-1248

link- http://www.lewrockwell.com/lrc-blog/carroll-quigley-on-voting/

Quigley was one of Bill Clinton's professors at Georgetown and was a significant enough influence on him that he mentioned him in his innaugural addresss, likely as a hat tip to the CFR.

Quigley was also given access to the historical archives of The Pilgrim Society and the CFR for decades

Tue, 01/20/2015 - 11:16 | 5681855 TeethVillage88s
TeethVillage88s's picture

I agree with both you and Michael Snyder except with all our US Systems Corrupted by money... Big Money Interests Led us to 13 years of war with Herr Bush out in front. Usually the Democrats do all this social program building, but actually they didn't need to since it was baked in under Herr Bush. Sherif Obama must have had to pay people off, since when he came in he also added in Social Programs (Except for Job Training, Job Assistance, Welfare to Work, and I don't see College or Tech School Training).

At some point we see exponential growth in all our welfare and social programs with no effort from the president for Main Street Jobs, no jail for Bankers, cover up of crimes, no investigations, and Gross Inequality... which fall hard on a president that sits for over 4 years.

(Below dollars in Millions)

Year, Revenue, Outlays, Tot Deficit, President
1980, $1,028.30, $1,175.10, $909,041, J. Carter
1988, $1,235.60, $1,446.50, $2,601,104, R. Reagan
1992, $1,282.70, $1,623.90, $4,001,787 G. H Bush
2000, $2,025.50, $1,789.20, $5,628,700, W. Clinton
2007, $2,128.80, $2,263.10, $8,950,744, G. W. Bush

Today Federal Budget Deficit is $18.1 Trillion (Exponential Growth).

Anyone hear about ending neoliberal economic or banking policies??

Mon, 01/19/2015 - 20:41 | 5681812 Buster Cherry
Buster Cherry's picture

The only, and I mean THE only way I'd waste my time watching that Obama bastard would be if an event occurred that would cause Joe Biden to have to wipe his bosses  blood and grey brain matter off his face and jacket.

Now that's entertainment!

Mon, 01/19/2015 - 20:46 | 5681829 I Write Code
I Write Code's picture

Good list of bad factoids.

I'd estimate about half the bad news comes from illegal Hispanic immigrants, another big chunk from legal H-1Bs brought in to undercut American workers, and the rest from a combination of globalization, automation, and corruption, mostly banksters and institutional capture of state and federal governments.

But the facts is the facts, and they ain't pretty.

Mon, 01/19/2015 - 21:06 | 5681897 One Eyed Jack
One Eyed Jack's picture

We bankrupted some folks

Tue, 01/20/2015 - 00:50 | 5681921 TeethVillage88s
TeethVillage88s's picture

We bankrupted some folks

-

- We ass screwed some of our boys and young women
- We protected some pedophilia Priests
- We Protected some Filthy Rich Banking Executives
- We surrendered the "State of Justice" for Greed
- We took some Payoffs, Bribes, and Lobby Money
- We killed some Veterans, and exposed others to unneeded harm
- We started some wars
- Our actions led to some million of folks that became refugees, got raped, got murdered, and got diseases
- We manufactured some Evidence
- We screwed some Allies
- We put common people in Germany, Poland, Estonia, Lithuania, Latvia, Romania, Bulgaria, Czech Republic in Danger...

Why the down vote. Did we catch you giving blow jobs for a government contractor job?

Feel sorry for being a welfare queen as a Government War Contractor?

Mon, 01/19/2015 - 21:51 | 5681993 earleflorida
earleflorida's picture

'pathetic is logic in a reality acquiescenced on indiference to reason'

 obi1?     what makes a democracy?   a middle class, or a diversified secular subset?

agrarian (feudalism) v. industrial (commercialization)?

rural v. urban capitalization equates to free markets? but, in todays world... free-trade equates to an archaic capitulation, regarding todays centrist globalization... which has metastasized into neo-fascism blessed by the NWO`TBTFbanks...

anachronism du`jour anyone[?] upside-down... since the post 'cold war 1.0'grand-finale 1991.  the ussa has sub`d-out it's iconic-infrastructure. indeed, technology/manufacturing base, etc., etc., replacing it with a service sector.

what's ironic is that it's all gone to a socialist/communist china!

we've advanced it one step further with another neo-statist system obliterating the social/economic bourgeois base.

it is unimaginable to foster a democracy on a service (?agrarian system of welfare?) sector class comprised of 80% of the pop., where 5% max. is of the 1% countries top income earners! those people also include feinsteins worth $70million...

obama will promise moar jobs, freer education, moar social welfare as he did in his 2009 campaign promises. all empty BS!!! moar war, moar peace, and a energy program through the kyota/ scrapping the 'oil export ban' for the carbon tax.

'social anxiety is best left a freudian-self in a padded orwellian room 101, until past thoughts can be wedded with grandiose[?]illusions'

jmo

please realize that this is a polemic satirical apology for a country no-longer gounded on the commons!

Mon, 01/19/2015 - 22:43 | 5682330 Cheduba
Cheduba's picture

"One recent survey discovered that about 22 percent of all Americans have had to turn to a church food panty for assistance."

Haha, church food panty.

Mon, 01/19/2015 - 23:10 | 5682430 Duck077
Duck077's picture

Anybody who believed Obama or any Republican would ever do anything to improve their standing is a idiot.  The only thing usful our Government can do is to step aside and let us take care of ourselves.

Mon, 01/19/2015 - 23:10 | 5682431 Duck077
Duck077's picture

Anybody who believed Obama or any Republican would ever do anything to improve their standing is a idiot.  The only thing usful our Government can do is to step aside and let us take care of ourselves.

Mon, 01/19/2015 - 23:12 | 5682439 johnberesfordti...
johnberesfordtiptonjr's picture

More goofball rubbish... Bush was an order of magnitude worse. Middle class destruction has its origins in Saint Reagan. http://www.theatlantic.com/politics/archive/2009/09/closing-the-book-on-...

Tue, 01/20/2015 - 07:09 | 5683048 Hopeless for Change
Hopeless for Change's picture

Very clever post, libtard hippie. Bush was worse. Real original.

Tue, 01/20/2015 - 00:15 | 5682627 kappal_toba_dhu...
kappal_toba_dhurr_ne_thook's picture

Nothing to be surprised about here.  USa has been going  down for over 20 years now.  It  started in the early 1990s and has been spiraling down faster  and faster, despite who the president was/is.  

 

Obama promises a lot, but can't deliver. So he, like is predeccesors, distorts the facts to make his administration seem to be the best.  Of course it is all lies and of course most people know better, or at least I HOPE they know better.

Tue, 01/20/2015 - 00:15 | 5682628 kappal_toba_dhu...
kappal_toba_dhurr_ne_thook's picture

Nothing to be surprised about here.  USA has been going  down for over 20 years now.  It  started in the early 1990s and has been spiraling down faster  and faster, despite who the president was/is.  

 

Obama promises a lot, but can't deliver. So he, like is predeccesors, distorts the facts to make his administration seem to be the best.  Of course it is all lies and of course most people know better, or at least I HOPE they know better.

Tue, 01/20/2015 - 04:01 | 5682909 Solio
Solio's picture

Sure, but all classes get the radiation.

Tue, 01/20/2015 - 04:53 | 5682946 localizer
localizer's picture

I saw the documentary Detropia the other day, pretty much sums up the problem with the entire USA..

Detropia’s real-life characters seem to be in a daze—stunned at what has become of their city and their lives. Tommy, the bar owner, opines that the middle class should be the “buffer” between the very rich and the poor. Without it, he says, there is only revolution. He identifies himself with the disappearing middle class. 

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