When our President is beholden to union special interests and a failed Keynesian economic dogma, most of us
could have did predict his “recovery” plans would have been a complete FAIL.
From Ed Morrissey at HotAir.com:
When running for President, Barack Obama decried the decline of American household income, which certainly dropped during the 2007-2009 Great Recession. Since the recovery began in June 2009 — a recovery for which Obama has repeatedly claimed credit — that trend has gotten worse, not better. A new report shows that the percentage of decline in household income during the so-called recovery actually doubled that of the recession:
During the recession, which economists say lasted from Dec. 2007 to June 2009, the median annual household income fell by 3.2 percent, from $55,309 to $53,518, according to a report authored by two former U.S. Census Bureau officials. But in the post-recession period from June 2009 to June 2011, the figure fell by 6.7 percent, from $53,518 in June 2009 to $49,909 in June 2011. …
The study found that during the post-recessionary period, families with just a male or female head with no spouse present saw a 7.3 percent decline in income compared to the 4.5 percent drop for married-couple households. Income for households with a head under the age of 25 fell by 9.5 percent, significantly more than the 5.5 percent decline for households with a head who is 45 to 54 years old.
Again, I repeat: Our President Spent $787 Billion Dollars Of Our Money And We Got Was This Lousy 9.1% Unemployment Rate (Forever…)