Skip to comments.Under Obama, Poor, Middle Class Incomes Fall Sharply
Posted on 10/02/2012 5:23:35 AM PDT by IBD editorial writer
Despite repeated promises that he would build prosperity from the bottom up, President Obama has presided over three years of income losses for the middle class, according to the latest household income data from the Census Bureau.
Since 2009, the middle 20% of American households saw their average incomes drop 4%. In 2011 alone, they fell 1.7%. The poorest 20% have fared even worse under Obama, Census data show. Their incomes have dropped more than 7% since 2009, and are now lower than theyve been at any time since 1985, after adjusting for inflation.
(Excerpt) Read more at news.investors.com ...
But the very wealthy also need their money....I have never had a poor person provide me with a job.
And the wealthy SPEND a lot of money which makes jobs
AND they do a lot charity wise.
I'm on SS....Two years with no COLA...(the first time since it started). But you gave GM money?? Thank you Mr. Obama...
Equally Poor. Communism’s objective results, every time it is tried.
Our personal income will drop 11% in less than 4 weeks. Certainly better than the 100% drop of losing a job, but it will bite nonetheless.