Monday, September 3, 2012
Labor Day 2012: A record one in seven Americans is on food stamps thanks to Barack Obama
Under Obama, 6.4 million Americans are living below the poverty line and there is a record number of Americans living in deep poverty. Obama’s policies have been such failures that the median household income has declined more during the so-called recovery than during the recession itself. During Obama's entire tenure in the oval office, median household income has declined by 7.3%. In January, 2009, the month he entered office, median household income was $54,983. By June, 2012, it had spiraled down to $50,964. That’s a loss of $4,019 per family, the equivalent of losing a little less than one month’s income a year, every year. And on our current course that is only going to get worse not better. Three years into the Obama recovery, median family income had declined nearly 5% by June 2012 as compared to June 2009. That is nearly twice the decline of 2.6% that occurred during the recession from December 2007 until June 2009. For household income, in other words, the Obama recovery has been worse than the Bush recession. Obama has failed the poor as well as the middle class. The Census Bureau reported more Americans in poverty than ever before in the more than 50 years that the Census Bureau has been tracking poverty. In fact, the poverty rate is on track to rise to the highest level since 1965, before the War on Poverty began.