Income is growing much faster in Republican-leaning "red states" than in Democratic-tilting "blue states" or the pivotal swing states that will decide the 2012 presidential election, a USA TODAY analysis finds.
Personal income in 23 red states has risen 4.6% since the recession began in December 2007, after adjusting for inflation. Income is up just 0.5% in 15 blue states and Washington, D.C., during that time. In the dozen swing states identified by USA TODAY that could vote either way Nov. 6, income has inched ahead 1.4% in 4 ½ years.
Ya know.....low taxes, less government spending, a free market capitalism just might work......it's never been tried and the close we get to it the better economies work.......maybe we should just give it a try.
“I was just reading Daniel Indiviglio’s chart of the day article on stagnating disposable income covering the past six years and was wondering what the trajectory of disposable income looks like over a longer period of time. Current disposable income being at the same level as 2006 sounds rather gloomy, however how much of an historical anomaly is it really? With this in mind, I downloaded the full time series from the BEA website. Figure 1 below shows the trend in inflation-adjusted per capita disposable personal income since 1959 (blue line). The red line shows the annual change in disposable income which averages out to 2.2% per year over the full time period.
The green line shows the five-year growth rate, indicating how much disposable personal income increased relative to five years ago. The average five-year growth rate is roughly 12%. The lowest five-year growth rate before the collapse of the housing market was in February of 1994, when real per capita disposable personal income only grew by 3% over the preceding five years. Then the boom years of the late 90s and early 2000s came with 5-year growth rates of up to 17%. Disposable personal income peaked in May of 2008, after which it fell sharply, recovered slightly and then remained relatively stagnant until today. These unprecedented monthly decreases in disposable personal income come in the middle of the latest economic recession that started in December of 2007 and officially ended in June of 2009.
The five-year growth rate turned negative in December of 2009 – the worst growth rate in the history of the series – and currently stands at zero percent in September of 2011, the second worst growth rate value. Compared to last year, income is down 0.5%. Disposable personal income hit a record low in terms of a year-over-year drop at -5.3% in May of 2009. For comparison, in the later part of 1974 disposable personal income fell close to 4% on a year-over-year basis, however the five year rate held up much better in that time period because it came on the heels of very high growth rates in the early 1970s. This wasn’t the case this time around, as high annualized rates during the great recession came on the heels of relatively modest income growth prior to the recession. That means inflation adjusted per capita disposable personal income is currently at roughly the same level it was in September 2006, marking the longest period of stagnation in the history of this series. A rather gloomy picture, indeed!”
REF: Disposable Personal Income Has Been Treading Water
It almost gets hilarious the way Obama's administration will use some irrelevant statistic over an irrelevant period of time to camouflage how totally incompetent they have been for the past 5 years. Relevant statistics are: The debt increase, the labor participation rate, the real change in the average household income and the change in the amount of disposable household income from 2009 - 2014.
Obviously Democrats are too immature to manage their own money. So they prefer to send it to DC and let the politicians give them an allowance each month.
Blame him for what? Saving the country from 4 more years of Jimmah Carter, the worst president in U.S. History until Obama came along.
Hackers stole millions from ATM machines did that stop people from using ATMs? Hackers Stole Credit and Debit Card Data from Up to 40 Million Target Customers.....did that keep people from using credit cards? Thieves steal millions from the government Social Security every month. Hackers stole over $74 million from 60 banks in massive attack will people stop using banks?
Let's all stay home for a few month to follow our passions and let the government support us.
Uhhh......there was no down turn until after 2006 when Democrats got control of congress.
Today on coinbase Buy Price $590.34 Sell Price $589.68. How well did regulations help Bear Stearns, MF Global, Goldman Sachs and Enron?
I'm so used to using the "double m" when describing communists (Democrats) that it was just a reflex.
You have to take out half your brain to be a Democrat as rockstar80333 provides proof.
"Veterans benefits are a contractual obligation." Not so......many benefits are now "mean tested."
Obviously, Democrats don't think there's anything wrong with it it.......but they'll sure call you a lot of vile insulting names for asking the question. Just hope they don't get so depraved and sink so low as to call you a Democrat.
Hey, the state exchanges are doing great! At spending money, anyway. The state of Hawaii, which was supposed to have one of the easiest tasks in the country handling a state where the rate of coverage was already highers than average, spent $120 million … and has only signed up 4,300 people in four months:
Hawaii already had one of the highest insured rates in the nation as the result of a 40-year-old state law requiring employers to provide coverage. The state received more than $205 million in federal money to build a health insurance exchange to serve those still uninsured.
Yet four months after enrollments began, the Hawaii Health Connector has allocated $120 million while signing up only about 4,300 people for health plans — fewer than any other state. Despite officials’ initial hopes of enrolling tens of thousands of Hawaiians, only 400 employers have applied for plans for their employees.
In case you’re wondering, that comes to $27,907 per sign-up. That’s not the only math involved, either. If Hawaii got $205 million in federal grants for the exchange and spent $120 million of it, where’s the other $85 million?
The LA Times compares this to Colorado, where Washington only spent $26 million, but the state exchange signed up 68,000 consumers. Neither of these figures come with a breakdown of the sigm-ups between Medicaid and private-insurance plans, though, nor a representation of how many paid for their initial premium and confirmed enrollment. Did this just reach a few of the Medicaid-eligible Hawaiians? How many of the private insurance plans sold (if any at all) went to younger, healthier consumers rather than others that will seriously distort the risk pools in the state?
I realize they're not U.S Citizens but since they already justify lying, all they need to do is justify theft to become top recruits for the Democrat Party.
.....and protected by the SEC.
The apparent collapse on Monday of Mt. Gox, the most prominent exchange for Bitcoin, spooked many holders of the virtual currency, as they tried to determine whether the problems pointed to larger flaws in the Bitcoin system.
But as Mt. Gox remained closed on Tuesday morning, one of Bitcoin’s most vocal cheerleaders portrayed the turmoil as an isolated problem.
The venture capitalist Marc Andreessen, whose firm has invested millions of dollars in Bitcoin-related start-ups, drew a comparison to MF Global, the brokerage firm that filed for bankruptcy in 2011.
“This is like MF Global, not some huge breakdown of the underlying technology or other exchanges,” Mr. Andreessen said in comments aired by CNBC on Tuesday morning. “Bitcoin protocol is unchanged and other Bitcoin exchanges and companies are doing fine.”
The price of Bitcoin extended its decline on Tuesday, hitting a low of about $419 before recovering somewhat to around $510, according to CoinDesk, news provider for virtual currencies. On Monday, it dipped below $500 for the first time since November, when it began a rally that it took it above $1,200.
A number of leading Bitcoin companies said on Monday that Mt. Gox, which handles about 6 percent of all Bitcoins in circulation, planned to file for bankruptcy after months of problems. A document circling widely in the Bitcoin world pointed to a theft of nearly all of Mt. Gox’s 744,000 Bitcoins, although the legitimacy of the document or its claim has not yet been verified.
“In the event of recent news reports and the potential repercussions on Mt. Gox’s operations and the market, a decision was taken to close all transactions for the time being in order to protect the site and our users,” said a statement on the Mt. Gox website on Tuesday. “We will be closely monitoring the situation and will react accordingly.”
Technology issues forced Mt. Gox to suspend withdrawals earlier this month, and many investors took to the online message board Reddit on Monday night to share how much they thought they had lost. “As much as I kick myself for not getting it out, I’m also patting myself on the back for getting most of my holdings out in time, when the writing on the wall became clearer,” said one user, whose claims could not be confirmed.
In his comments on television, Mr. Andreessen said Mt. Gox “has been obviously broken and possibly outright crooked for months.”
Welfare works for black Dem votes just like deer corn feeders do for hunters.