Household income is below recession levels, report says (Obama's Fault!)

WASHINGTON POST ^ | 8/23/2012 | Michael A. Fletcher

[tobyhill]

Household income is down sharply since the recession ended three years ago, according to a report released Thursday, providing another sign of the stubborn weakness of the economic recovery.

From June 2009 to June 2012, inflation-adjusted median household income fell 4.8 percent, to $50,964, according to a report by Sentier Research, a firm headed by two former Census Bureau officials.

[tobyhill]

Are you better off today than nearly 4 years ago?

According to this report, not even close.

[pieceofthepuzzle]

So how can this same ‘newspaper’ claim that multiple ‘models’ show Obama winning? Not that I believe these models (if it were so calculable we wouldn't need elections).

[Erik Latranyi]

[Kudsman]

Happy empty chair day!

[CPOSharky]

Household income is down sharply since the recession ended three years ago...

The economy has gone down hill since zero was elected but the recession ended three years ago? Why? Just because some libtard said so?

[randita]

A recession is measured in technical terms, economic growth, unemployment, etc. It doesn’t feel like the recession is over, but the technical numbers tell us it is.

Obama’s “new normal” should be the subject of many attack ads.

[TwelveOfTwenty]

We borrowed and spent over 800 billion dollars to get unemployment to 5.6% by now. It failed, and we still have to pay that 800 billion dollars back.

And 44% still approve of the job he's doing???

[mike_9958]

four more years of this bozo and we’ll all be Eastwooding....

[SunkenCiv]

Well, obviously *this* is the fault of the Congress! If the minority party in both houses had just voted for an even bigger “stimulus” package (”Don’t Tase Me, Bro’!”), we wouldn’t be in this fix. /sarc

Thanks tobyhill.

[nightmarewhileawake]

... and also why aren’t people jumping up and down and screaming about their house losing TREMENDOUS value. Most people’s only savings or financial worth is in their homes.
Home prices have continued to drop year after year since 2008.
case in point, 2009 my house was worth in the 500k’s now I couldn’t get 250K. This is absolutely terrible especially for people 55 and older ... all your life’s work GONE...vanished. 2010, 2011 and 2012 each year the value has gotten worse. Very few buyers and more and more homes on the market.
!!! AND THIS HAS HAPPENED SINCE OBAMA “SAVED US FROM GOING OFF A FINANCIAL CLIFF” — HA !!!

[nobamanomore]

I have said all along that it hasn’t ended. GNP by definition includes govt spending. It should not, in other words, you can be in a depression and literally spend your way out according to GNP. I think without the spending thrown in there, it would be negative growth, therefore a recession.

I don’t remember the nomenclature from my college econ days, but there is another number that doesn’t include govt spending, you never hear it mentioned, LOL.

[SunkenCiv]

Thanks Vintage Freeper for posting this:

[q_an_a]

Call it "Trickle down regulations!" 1. Make it harder for drilling - $60.00 gas tank. 2. Make it harder on coal call it 20% higher electirc bill! 3. Increase rules on healthcare - student costs of healthcare up 40%!! Increase CAFE standards - car prices going up!! None of this hurts the rich - it is killing the working man and woman.

Think higher gas prices don't affect more than the consurmer, what about all the companies with service vechiles? Those companies are hiring less because gas costs more...trickle down cost of regulations.