Saturday, August 25, 2012

Obama's Cronyism Destroys America's Future

Previously published on Al Fin blog

US Incomes Drop More In Obama "Recovery" Than During the Great Recession

American incomes declined more in the three-year expansion that started in June 2009 than during the longest recession since the Great Depression, according an analysis of U.S. Census Bureau data by Sentier Research LLC.

Median household income fell 4.8 percent on an inflation- adjusted basis since the recession ended in June 2009, more than the 2.6 percent drop during the 18-month contraction, the research firm’s Gordon Green and John Coder wrote in a report today. Household income is 7.2 percent below the December 2007 level, the former Census Bureau economic statisticians wrote.

“Almost every group is worse off than it was three years ago, and some groups had very large declines in income,” Green, who previously directed work on the Census Bureau’s income and poverty statistics program, said in a phone interview today. “We’re in an unprecedented period of economic stagnation.” _SFGate

This may be why more and more US children and adults aspire to become cronies and parasites, rather than doctors, engineers, and architects. More in the video below:

Children these days may be dumbed down, but they are not totally stupid. They understand that in an economy run by Obama and the Chicago mob, being a crony may be their best opportunity to succeed.

Crony Chronicles website growing in relevance

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