WSJ American incomes down 4K almost 10% due to Obama
It is very silly to claim the decline in American incomes is related to housing. We have record low labor participation which means record real unemployment. College kids are sitting at home or pitching coffee. It is cute that Obama speaks of education for the new century jobs when America has never seen such waste of human talent and our education. Record unemployment and under employment is predictable result of Obama’s collectivist agenda.
Just look at Spain and the rest of Europe. This is our future is Obama’s Progressive delusions are not stopped very soon. I live in California and believe me Progressives never stop their delusions so will not stop until bankruptcy.
Then you got it completely wrong on incomes. The greatest flaw in the Bush economic record was that middle class incomes did not grow despite full employment.
Bush allowed hostile mercantilist trade from the Chinese national socialists. That depressed our wages and provided excess savings or liquidity. He borrowed and spent to much.
But overruling both Bush and the GSE government regulators to continue directing Fannie, Freddie and private banks to make subprime mortgages was Barmy Franks and the Progressive/Socialist caucus.
Time to solve problems like adults rather than pretend Obama policies are a solution when it is compounding the problems he was hired to correct. Time is short for America to grow up and use our common sense.