The American Middle Class Is No Longer the World’s Richest

[Danno 1,228]

You should endeavor to read and comprehend the material presented before commenting on it, Danno. The decline of Americas middle class is a project that's 30+ years in the making. It started in the 1980's. Coincidentally, that's when Reagonomics started as well. When you look at the three main factors that are at the root of it all: our declining eductation system, declining labor unions and tax policy. We can debate the first but number 2 and 3 are solidly attributable to Reagonomics.

News Flash, the world is changing, focusing on one or two trends is lame.

We shipped our manufacturing out of the country

We have a rise in the economies in Asia.

The country is in decline in a number of ways and that WILL CONTINUE.

You are longing for a time in America that is almost past.

I warned you before- The country you get is not the country we had.

You brag about taking over the country.... then cry because it does not perform like before.

Jeez

[SMOKE 1,426]

Correct me if I'm wrong, but weren't we in a depression when Obama took the helm? I could have sworn folks were being laid off left and right in 2008. So, is that Obama's fault too? Or, do we skip the years GWB was in office and shift the blame to Clinton?

you're wrong. the recession started under bush, picked up speed under obama, and has drug on due to his asinine policies.

[We Keep Receipts 9,238]

you're wrong. the recession started under bush, picked up speed under obama, and has drug on due to his asinine policies.

So if it started under bush, why is it wrong to blame him? We got folks here that blame Obama for 9/11.

[decocker 7,198]

So if it started under bush, why is it wrong to blame him? We got folks here that blame Obama for 9/11.

well that's because obama is a secret muslim.

[UncleBeer 244]

sooo, does this mean whoever is elected in 2016 gets to blame obama for the economic woes of their term?

It depends on whether or not he's as small a man as the current preznit (who seem to know no bounds as to blame-shifting and unpreznitial behaviour).

[JohnR! 5,495]

Correct me if I'm wrong, but weren't we in a depression when Obama took the helm? I could have sworn folks were being laid off left and right in 2008. So, is that Obama's fault too? Or, do we skip the years GWB was in office and shift the blame to Clinton?

Get with the program. Here is how it works:

Reaganomics can't be attributed to the crisis in 2008 but it can be attributed to the success of the Clinton administration.

Bush Kid can't be held responsible for the crisis in 2008 but Obama can for the current state of the economy.

See how it works? It is easy!! You need to drink more Kool Aid bro!

well that's because obama is a secret muslim.

C'mon! That is no secret! In his native Kenya everyone know he is a Muslim!

[Teddy B 17,252]

you're wrong. the recession started under bush, picked up speed under obama, and has drug on due to his asinine policies.

Really? What country you livin in Willis?

Edited April 23, 2014 by Teddy B

[UncleBeer 244]

Correct me if I'm wrong, but weren't we in a depression when Obama took the helm?

Depression? You're so far off the mark it's laughable. And as for the preznit's economic "recovery":

How often have you heard a Democrat prattle on and on about how well Barack Obama has done with the economy, given the mess he inherited? Usually, it’s some version of, “Things are getting better, but the economy the President started with was so awful, so he’s done as well as anyone could expect.”

When Ronald Reagan took over from Jimmy Carter in ’81, things were actually worse economically compared to when Obama took over from George W. Bush in ’08.

Consider these three important comparisons of economic indicators, then and now:

- Unemployment was at 10.8% versus 7.7%

- Inflation (Consumer Price Index) was at 13.5% versus 2.7%

- Interest rates (prime rate) was at 21.5% versus 3.25%

In other words, Reagan inherited a bigger mess. Yet, there’s this chart of job growth:

Yes, you read that right: net job growth has declined under Obama. And by the end of the second year of their terms as President, economic growth under Reagan averaged 7.1% , under Obama an anemic 2.8%.

So, how did Reagan manage it? Across-the-board tax cuts, non-defense spending cuts, a restrained monetary supply, and deregulation.

What’s Obama done? Tax increases, spending increases, a massive money-supply increase through “quantitative easing,” and an explosive increase in regulations.

[SMOKE 1,426]

So if it started under bush, why is it wrong to blame him? We got folks here that blame Obama for 9/11.

its wrong to blame anyONE. at some point people have to realize that obama knew what the current state of the country was before he was elected. he knew what he was getting into. they also need to admit that expanding regulations on business is not how to grow the economy. go ahead guess who has and is driving the increased regulations.

[decocker 7,198]

It depends on whether or not he's as small a man as the current preznit (who seem to know no bounds as to blame-shifting and unpreznitial behaviour).

i'm not sure if this is the correct forum to discuss such things. isn't this a family friendly site?

[Mr. Big Dog 10,747]

News Flash, the world is changing, focusing on one or two trends is lame.

We shipped our manufacturing out of the country

We have a rise in the economies in Asia.

The country is in decline in a number of ways and that WILL CONTINUE.

You are longing for a time in America that is almost past.

I warned you before- The country you get is not the country we had.

You brag about taking over the country.... then cry because it does not perform like before.

Jeez

The world is changing? You don't say. Arguably, our peer nations face that very same reality. And yet, they're managing that better than we have. Their middle classes are gaining ground while ours is losing ground. Canada's middle class now looks down on Americas middle class and soon Europe's middle class will look down on Americas middle class, too. And that despite them sharing the same world that we live in.

That is the reality. Of course, you rather go off on tangents than stop for a moment and consider the possibility that the economic policies of the last three plus decades have not delivered what was promised. America is in severe decline and it's not because Obama is President. The decline started long ago and there seems to be no way to reverse it because large swaths of the American population lives in denial. You're a good example of that.

Edited April 23, 2014 by Mr. Big Dog

[We Keep Receipts 9,238]

Get with the program. Here is how it works:

Reaganomics can't be attributed to the crisis in 2008 but it can be attributed to the success of the Clinton administration.

Bush Kid can't be held responsible for the crisis in 2008 but Obama can for the current state of the economy.

See how it works? It is easy!! You need to drink more Kool Aid bro!

C'mon! That is no secret! In his native Kenya everyone know he is a Muslim!

Pass the cup around, I'm not drinking as much as I should.

Depression? You're so far off the mark it's laughable. And as for the preznit's economic "recovery":

I'll rephrase since it's easy to lose you. When Obama took the helm, were we in a "bad place" economically?

[Danno 1,228]

Just for a chuckle at how wrong Obama was, he claimed "green energy" would bring our economy back.

THink about that.

He waltz in the White House believing Solendra and electric cars were going to have a break-out in world wide demand we would roar into a Reagan Economy.

This is why elections by media are sooo dangerous.

If the economy is not enough,

at this very moment this same Genius is trying to lock horns with a nuclear power over a little peninsula most Americans have even heard of 6 months ago.

and for what?

Look Obama is a nice guy but come on, it's time to put on our big-boy pants.

[decocker 7,198]

Just for a chuckle at how wrong Obama was, he claimed "green energy" would bring our economy back.

THink about that.

that is funny. when did we actually try using green energy to bring the economy back? when did that happen and fail?

[UncleBeer 244]

I'll rephrase since it's easy to lose you. When Obama took the helm, were we in a "bad place" economically?

You used a specific economic term: "depression". Maybe you should look that term up, as you don't seem to understand that it has specific meaning. It certainly wasn't a "depression". I'll pretend like you misrepresented the situation out of ignorance.

And, since VJ's feeble software blocked my "Reagan v. Obama recovery" graph, here it is again: