OK… that’s a headline to get you to click through but wouldn’t that be the main theme on every evening news program if this was President McCain?
How do I justify that outrageous statement?
Obama has presided over the single largest drop in income for the poorest Americans.
The census data only goes back to 1968 so I can’t tell what big drops happened before.
Take a look at the chart below. It shows the % change in lowest quintile median incomes (the poorest Americans) from 1969 – in 2010 dollars. This data is taken directly from the Census Bureau. More charts soon.
UPDATE: If the above is true then please extrapolate your own title for the following chart showing change in median income for black Americans in the lowest quintile. (You are reading that correctly, Black Americans in the lowest income quintile have suffered almost TWICE as much as the average American in the same quintile under Obama: -11.58% to -6.04%)
Not the kind of Change you were looking for?
But it is the kind of change they voted for.
“Obama Hates Poor People”
Nonsense! He loves poor people. That’s why he’s working so hard to make millions more of ‘em.
A 9% point change, to the negative, since 2006, the year Madame Pelosi took over the House of Pain, eh er Representatives
No, Obama must LOVE poor people. That is why he is making so many more of them.
I told you so.
It seems to also correspond with the Dems taking over congress. Hummm!
Isn’t/ wasn’t this the plan all along? Make poor people poorer—then he has a “mandate” to redistribute?
As another commenter has stated, there is much correlation between when the democrats took control of congress (Jan 2007) and our current downward spiral, across many areas. After the election of 2006, investors, businessmen, companies & business leaders began to factor in the democratic tendency to legislate, regulate and redistribute. Accordingly, investment and expansion began to wane. Once it became clear that they were going to move strongly along those lines and that Mr. Obama would be the 3rd leg of government to fall to the democrats, thereby removing any and all obstacles to their growth killing playbook, the bottom began to fall out and has continued since. Correlation, absolutely without doubt. Causation? You decide.
…the democratic tendency to legislate, regulate and redistribute.
Funny, at first glance I thought you wrote “regurgitate”.
Wait, didn’t Obama inherit this problem from Bush? Yes, that evil Republican is to blame, just as he was blamed for hating poor people when these charts hit their previous lows just after Bush was inaugerated in 2001.
Uh, wait. If Obama inherited this from Bush, then wouldn’t a similar historical patter in the late 1990s to 2001 suggest that Bush inherited those conditions from Clinton?
No, that can not be. Bush hated poor people and is just are responsible today and he was back then, two months after his taking office.
But that logic is not consistent. How can I argue “inheritance” today and deny “inheritance” was applicable back then? I can not have it both ways in the real world, can I?
Will Robinson, it does not compute, it does not compute, in does not……
Is this the part where “level-headed, common-sense driven people” who once used to use exactly that kind of language when they were alone with the hard left, say, “you know, this kind of dialogue and name-calling needs to stop”?
We’re on the road to Serfdom
Obama is winning the War on Prosperity.
If a White Republican were President right now, Al Sharpton, Jesse Jackson, the entire Congressional Black Caucus, and the entire mainstream media would be beating him over the head with these statistics. But because Obama is Black, if you point out these statistics, then you’re a racist who can “go straight to hell”.
How could he possibly hate them? He’s creating so many more.
Looking at the 2nd chart, it strikes me that the percent change for African-Americans could be larger because their starting point is smaller. If your income was $100, and it declines by $5, that is a 5% drop. But if your income is $50 and you have the same drop in $, your percentage drop is now 10%.
Or the root cause may be unemployment, where African-American unemployment is roughly double the national average. If you have double the percentage of people with no income at all, you would expect the average income of the bottom quintile to be much lower than the national average.
Isn’t the x-axis starting at 1968, not 1980?
This is what happens when President Obama knows nothing, does nothing and is a complete airhead. His Treasure Department leaders, (Geither and Bernanke) is fallowing Keynesian Economic Theory, which is proving a disaster. We need to go back to Fredrich Hayek, who wrote the book “The
Road to Serfdom.” Keynesion Economics has always failed in this modern age.
Note the following, you horrible simpletons:
-The poverty RATE – the much more meaningful measure – is not the highest it has ever been
-Poverty estimates only go back to 1959, so these numbers do not, in fact, include the Great Depression, which is the actual all-time high for poverty in the United States.
Hahaha wow, on an article saying that presently, one in five Americans is under the poverty limit, you guys are, in equal parts,
1) Gleefully loving that fact because it makes Obama look bad, and
2) Hating on poor people.
3) Blaming Obama for this.
You guys are officially the most disgusting pieces of humanity I’ve ever encountered. I hope this is all hyperbole and you don’t exist this way offline.
Obamanomics Inspire Poor to Ask for Change