Income falls 3.2% during Obama's term thus far

[budw38]

Originally Posted by Schneed10

Just wait until he unfairly has to take the heat for the double-dip recession that's coming in the next 12-18 months thanks to a second wave of bad mortgages and lending practices.

That will be the thing that forces him out of office, when the country (and the GOP) blames his policies for a double dip recession (assuming the GOP doesn't nominate Palin, Obama could defeat Palin in a 1934 economy).

It is not Obama's fault we have the problems that were in place when he got elected , but the Clinton Admin. policies < his cabinent members ran , Fannie/ Aig / Citigroup / GS. ect. caused < in part > the problems ... » Robert Rubin: The Nexus Of Big Government and Wall Street - Big Government. The Glass-steagall Act’s Loss is the Community Reinvestment Act’s Gain . Financial Crisis: The Blame Continues, with No End in Sight - FOXBusiness.com

[Schneed10]

Originally Posted by budw38

It is not Obama's fault we have the problems that were in place when he got elected , but the Clinton Admin. policies < his cabinent members ran , Fannie/ Aig / Citigroup / GS. ect. caused < in part > the problems ... » Robert Rubin: The Nexus Of Big Government and Wall Street - Big Government. The Glass-steagall Act’s Loss is the Community Reinvestment Act’s Gain . Financial Crisis: The Blame Continues, with No End in Sight - FOXBusiness.com

Agreed, we had years and years of various factors leading up to this.

I blame the lack of savings and growing consumerism amongst the general populace, more than anything. In the 90s and 00s, Americans just decided they didn't need to save money anymore.

[budw38]

Originally Posted by Schneed10

Agreed, we had years and years of various factors leading up to this.

I blame the lack of savings and growing consumerism amongst the general populace, more than anything. In the 90s and 00s, Americans just decided they didn't need to save money anymore.

Agree with the lack of saving's / use of credit cards , ect. Also , Goldman Sacks , Washington Mutual selling assets , then driving up the " value " , only to short them ... some of these bums should be in jail .