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Skip to comments.Americans Still Suffering 5 Years After Lehman Bros Failure (Not What Obama Said)
Posted on 09/16/2013 4:23:16 PM PDT by whitedog57
President Obama gave a speech touting how far the US has come since the jarring Lehman Brothers collapse five years ago.
The U.S. has come a long way since September 2008, according to President Obama.
Well, not in terms of household income since REAL median household income continues to decline.
And the less than 1% of the population continues to suffer. [Note how the top 1% fared under President Clinton!]
Mortgage purchase applications have tanked along with the employment-to-population ratio.
And the labor force participation rate continues to fall along with M2 Money Velocity.
We now have a part-time jobs recovery and the enactment of healthcare reform that encourages people to work less and go on the government dole.
True, house prices have come roaring back
and the stock market is off on a tear. Particularly with the enormous boost from The Fed.
Yes, wealthy Americans have done quite well, but the rank-and-file Americans have lost ground.
President Obama blamed the mandated federal spending cuts known as the sequester for holding back job creation and economic growth, and argued in favor of targeted budget cuts as opposed to across-the-board cuts.
You mean, BAD government housing policy (like assigning affordable housing goals to Fannie Mae and Freddie Mac) that helped created a bubble and a devastating crash that lingers to today has nothing to do with it? Well, I learn something new every day.
Have the oceans receded yet?
“Note how the top 1% fared under President Clinton!”
Note how the U. S. economy fared “under Clinton,” because of Speaker Newt Gingrich and Republican control of the House of Reps, compelling Clinton, contrary to his natural inclinations, to accept a balanced budget and welfare reform, for which positive results Clinton has ever since been given full credit.
Oh, and in spite of numerous AQ attacks on his watch, he effectively punted the WOT and its expense to the next administration.
There is no doubt the rich are getting richer and the poor are getting poorer. And it’s because of the assault on the middle class. It started with NAFTA.
” . . .he effectively punted the WOT and its expense to the next administration.”
Has anyone other than moi noted that no American military person was sent into mortal combat as a consequence of a direct order issued by Bill Clinton?
Yahbut! The Bosnia operation, you say?!
It was sub-contracted to NATO.
And he did launch a missile blindly into an un-peopled spot in a desert.
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