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Friday, October 3, 2014

President Goldman Sachs Strikes Again

The Washington Post reports that the middle class in the U.S. is poorer than it was in 1989, notwithstanding the supposed recovery. From the article:
Unfortunately for Obama, though, voters have rewarded him for the upbeat economic news by starting to trust Republicans more on the economy. What in the name of Phil Gramm is going on? 
Part of this mystery isn't one at all: the economy simply isn't as healthy as the headline numbers suggest. Unemployment has fallen, in part, because so many people have given up looking for work rather than finding it, and there are still millions of part-timers who want full-time jobs. 
But then there are deeper factors at work. The economy has gotten bigger, but much of that growth hasn't reached the middle class. Indeed, the top 1 percent grabbed 95 percent of all the gains during the recovery's first three years. And that's not even the most depressing part. Even adjusted for household size, real median incomes haven't increased at all since 1999. That's right: the middle class hasn't gotten a raise in 15 years.
Hey! All those billionaires and blue chip companies didn't spend all that money to elect (and re-elect) Obama so he could help the middle-class. You think they ride in their private jets to global warming conferences in exotic locations because they care? No. It is because they know that "global warming" is just another way to pillage the middle-class.

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