Ghost Of Reagan Taunts Barack Obama Are You Better Off Than You Were Four Years Ago?

When Ronald Reagan posed that simple question to American and then incumbent Jimmy Carter during the 1980 presidential campaign, the resounding answer was NO – and Reagan won by a landslide over his Democratic Party opponent. The Washington Post just out with a similar question – and results very similar to those during the Carter era. In fact, it is now a quite honest statement to indicate the Obama “recovery” has been far worse than the so-called Bush recession. (People tend to forget Democrats controlled all of Congress during the last two years of the Bush presidency) MUCH WORSE.

EXCERPT:

Household income is below recession levels, report says

Household income is down sharply since the recession ended three years ago, according to a report released Thursday, providing another sign of the stubborn weakness of the economic recovery.

Incomes have dropped more since the beginning of the recovery than they did during the recession itself, when they declined 2.6 percent, according to the report, which analyzed data from the Census Bureau’s Current Population Survey. The recession, the most severe since the Great Depression, lasted from December 2007 to June 2009.

Overall, median income is 7.2 percent below its December 2007 level and 8.1 percent below where it stood in January 2000…

…This summer, the Federal Reserve reported that the downturn eviscerated two decades of gains in Americans’ wealth. The central bank said the median net worth of families plunged by 39 percent in just three years, from $126,400 in 2007 to $77,300 in 2010, pushing that measure back to nearly 1992 levels.

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