| Obama's Policies Caused Greatest U.S. Wealth Decline in Decades By Ben Johnson, The White House Watch |
| Barack Obama has so humbled American finances and destroyed the average family’s wealth that even the mainstream media can no longer cover up his dismal record. Today’s issue of the New York Times ran a featured story entitled, “Recession Officially Over, U.S. Incomes Kept Falling.” The story highlights a study by two former Census Bureau officials, Gordon W. Green Jr. and John F. Coder, which found Americans have lost more wealth under the Obama administration than in the midst of the recession under George W. Bush. Altogether, the recession and Obama’s policies created the largest reduction in the American standard of living in decades. (Read the report’s major findings here.) Obama’s policies have inflated store prices, debased the dollar’s purchasing power, and led to a glut of unemployed who are not drawing a paycheck. However, government workers suffered the smallest income drop, meaning Obama’s policies encourage government dependence and a further spiral toward economic catastrophe.... |
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