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Did President Obama tell the truth when he said families

Posted: Sep 7, 2012

Yes. (This is from the Washington Post. The "through W's terms" are my words. His are below. Note the graph--that vertical axis is our debt as we try to maintain, not yet realizing that falling or stagnant wages are not just a temporary aberration.)

TRUE. President Obama: "By 2008, we had seen nearly a decade in which families struggled with costs that kept rising but paychecks that didn’t; racking up more and more debt just to make the mortgage or pay tuition; to put gas in the car or food on the table."

Census Data suggest that median household income fell by $1,005 between 1998 and 2008, when you adjust for inflation. So Obama’s claim checks out there. Here’s what consumer credit looks like from 1998 to 2008:

;

Hm-m-m. Well, then, Clinton can share in the blame. - backwards typist

[ In Reply To ..]

since he was president from 1993 to 2001. So he can take blame for years 1998-2001.

You can also put the blame on the consumers for using CC's instead of using cash. They helped put themselves into debt by not cutting spending as if nothing (income) had changed.

According to a new report from Sentier Research LLC, US median household income has fallen 4.8% on an inflation-adjusted basis since June of 2009, which is when the "Great Recession" technically came to an end. So, if you are feeling a bit lighter in the pocket now than you were back then - it's probably because you ARE lighter in the pocket, at least on an inflation-adjusted basis.

As a matter of fact, Sentier Research says that median household income has fallen more during the current "recovery" than it did during the "Great Recession", which lasted from December of 2007 until June of 2009. According to Sentier Research, median household income fell 2.6% during the Great Recession, compared to the 4.8% that it has fallen on an inflation-adjusted basis over the past three years.

Would that be on account of the balanced budget or the - surplus he left for W to decimate? nm

[ In Reply To ..]
nm

Heard yesterday - can't remember where (sm)::: - nm

[ In Reply To ..]
that there really was no surplus - not on paper anyway. Can't remember, I'll try to find it. A Clinton lie? Can't be. LOL

Can't remember where? Of course you can't. - Good luck with that search for the Holy Grail. nm

[ In Reply To ..]
nm

Here you go - it's not the grail, but it will have to do for now:::sm - me

[ In Reply To ..]
link

So you're going to ignore facts unless it is good news about Clinton and Obama? - backwards typist

[ In Reply To ..]
Go right ahead and ignore Obama's problems after it was claimed that the recession was over from June 2009 to present???? Figures.

Facts make their heads explode. - True story.

[ In Reply To ..]
nm

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