Under Obama, Poor, Middle Class Incomes Fall Sharply

Investor's Business Daily ^ | 10/02/2012 | John Merline

[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 they’ve been at any time since 1985, after adjusting for inflation.

[ryan71]

It's the communist way. Take their money then give them government things like obamaphones, obamacare and obamafood. Their plan is moving along quite well.

[Sacajaweau]

Not only has income gone down...prices have gone up. Gas prices alone hurt all but the very wealthy.

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...

[khelus]

[Uncle Miltie]

Equally Poor. Communism’s objective results, every time it is tried.

[Marie Antoinette]

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.