Obama Economic Policies Exposed

Flopping Aces ^ | 10-05-12 | Warren Beatty

[Starman417]

Democrat/liberal/progressive (a very pejorative term) readers, when reading the following facts, will say “See” without thinking about the consequences for their favorite economic policy-maker, President Barack Hussein Hubris “kill list” Obama. What are these facts? I thought y’all would never ask.

According to a September 12, 2012, Census Bureau report:

• Changes in income for the lowest two quintiles were not statistically significant, meaning the decline in 2010 of 1 percent was relatively unchanged.
• Income declined by about 1.5 percent for the middle and fourth quintiles.
• Income increased 1.9 percent for the highest quintile. So only the highest income earners saw an increase in income.

• Income inequality increased by 1.7 percent, from 0.469 to 0.477 between 2010 and 2011, according to the Gini index, a measure of household income inequality, with zero representing perfect income equality and 1 perfect inequality. This marks the first time the Gini index has increased since 1993. For perspective, the Gini index average during the Bush years was 0.465.

“See, only the rich saw an income increase, and income inequality rose as well,” the Democrat/liberal/progressives will loudly proclaim.

But these figures present a very real problem for Obama and his minions. These figures are the direct opposite of what Obama promised his economic policies would produce when he ran for president in 2008. Obama promised that he would build prosperity from the bottom up. In March 2008, at Cooper Union University in NYC, Obama said, “I’ve put forward a series of proposals that will foster economic growth from the bottom up.”

And in June 2008, in Raleigh, NC, Obama said, “… in America, our prosperity has always risen from the bottom-up,” and that we must choose between “… more of the same policies that have widened inequality, added to our debt,” or policies that “will restore balance to our economy; that will invest in the ingenuity and innovation of our people; that will fuel a bottom-up prosperity.”

Obama, in his 2009 budget, said his policies would bring about “… bottom-up growth that empowers hardworking families to climb the ladder of success.”

(excerpt) Read more at floppingaces.net...

[Cyclone59]

Obama, in his 2009 budget

What budget? We have not seen an annual budget since 2006! A point that Romney needs to let the American people know, well you know, since the LSM never has or will until a Republican controlled Senate and/or White House doesn't submit one on time.