Income falls 3.2% during Obama's term thus far

[GMScud]

Originally Posted by 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.

Correct. I'm no economist. Far from it. However government payouts are way up (SS, unemployment benefits, medicare, foodstamps, etc), and despite a $900B stimulus plan, numbers continue to move further into the red. No bueno.

You can easily say Obama inherited this issue. You can also easily say at this point his measures to correct said issue have been ineffective thus far, and have pushed our debt/deficit to record levels.

All in all government is total shit show right now, on both sides of the aisle.