Thursday, October 4, 2012

Obamanomics Decimated the American Middle Class, Working Poor « The Greenroom

Obamanomics Decimated the American Middle Class, Working Poor « The Greenroom: "Merline noted that in Obama’s “first budget, released in February 2009, Obama said his policies would bring about ‘bottom-up growth that empowers hardworking families to climb the ladder of success.’ But so far, none of that has happened during Obama’s recovery, which started in June 2009 and has produced historically low rates of economic growth….only the wealthiest households have managed to eke out income gains… these results are highly unusual in an economic recovery, which typically produces income gains across the board. During the eight-year Reagan boom, for example, incomes at the bottom climbed 14%… the middle [class] climbed 13%, and those at the top 22%.”"

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