Although candidate Barack Obama assailed then-President George W. Bush “for wage losses suffered by the middle class” in the 2008 presidential campaign, more “than three years into” his ” own presidency,” reports Bloomberg’s Mike Dorning, “those declines have only deepened“:
As a candidate in 2008, Obama blamed the reversals largely on the policies of Bush and other Republicans. He cited census figures showing that median income for working-age households — those headed by someone younger than 65 — had dropped more than $2,000 after inflation during the first seven years of Bush’s time in office.
Yet real median household income in March was down $4,300 since Obama took office in January 2009 and down $2,900 since the June 2009 start of the economic recovery, according to an analysis of census data by Sentier Research, an economic- consulting firm in Annapolis, Maryland.This decline in income could have a greater impact on average voters than the unemployment rate.
Via Instapundit. With less take-home pay, they have to set aside a grater proportion of their income for housing, groceries and other necessities, leaving less for recreation — and making it more difficult to save up for big purchases, like down payments on homes.
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