Income falls 3.2% during Obama's term thus far

[Schneed10]

To be fair when interpreting this, it's important to note that the biggest driver of per-capita income is the number of paying jobs there are out there. As companies have been laying people off, obviously that takes a toll on income earned.

So this is not to say that pay is going down 3.2% among those who have jobs. This is to say income is staying flat for those who have jobs, but because we've shed so many jobs, the overall per-capita income has taken a hit.

One could then pick at the jobs issue and take aim at Obama's policies on jobs. But the reality is the economy was going in the crapper regardless of his policies.

The federal government, simply put, has very little control over the course of the nation's economy. Even the Federal Reserve has limited impact.