The lost decade
Sep. 21st, 2009 12:43 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
elfsTake a look at Figure 2 on the Center for Budget and Policy Priorities latest report. Look closely: the highest median income for the middle class was in 2000. Don't look at 2008, look at 2007.
During the supposed high-flying Bush years, when we were "awash" with cash, when we were "flush" with money, when the country was supposedly going gangbusters (even though a lot of that money didn't "really" exist), the data show that the median income for Americans was still never as high as the last year of the Clinton presidency.
Financially, we never went anywhere as a country during the Bush era. And yet, we're all painfully aware that the rich became significantly more rich in that time.
This is not capitalism as it is classically understood. The rising tide only lifted a few, privileged boats: the rest of us sank. A lot.
During the supposed high-flying Bush years, when we were "awash" with cash, when we were "flush" with money, when the country was supposedly going gangbusters (even though a lot of that money didn't "really" exist), the data show that the median income for Americans was still never as high as the last year of the Clinton presidency.
Financially, we never went anywhere as a country during the Bush era. And yet, we're all painfully aware that the rich became significantly more rich in that time.
This is not capitalism as it is classically understood. The rising tide only lifted a few, privileged boats: the rest of us sank. A lot.
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no subject
Date: 2009-09-21 08:37 pm (UTC)It's not JUST the executive branch that you need to be looking at... the make-up of the legislative branch is as much, if not MORE responsible for the economic situation.
no subject
Date: 2009-09-21 09:31 pm (UTC)no subject
Date: 2009-09-21 10:24 pm (UTC)And yes, I can blame a LOT of the current problems on his sweeping "change".
Thousands of car dealerships forced to close. Many small businesses forced to shrink their workforce in order to stay profitable. Trillions going toward "bailouts" and "tax credits" which people won't see until 2013...
No, I don't expect a lot... I expected the demise that Obama is steering us toward, which is why he didn't get my vote.
no subject
Date: 2009-09-21 10:58 pm (UTC)no subject
Date: 2009-09-21 11:25 pm (UTC)GM was forced to close about 1350 of their dealerships AFTER Obama ousted their CEO and installed his own guy, despite the fact that dealerships are SELF SUSTAINING and don't cost the corporation even 1/10th of 1 percent of their revenue.
Chrysler close about 850 dealerships... and it was a complete surprise to everyone in May of 2009, not 9 months before the elections.
no subject
Date: 2009-09-22 02:46 pm (UTC)Number 127
no subject
Date: 2009-09-22 02:49 am (UTC)I'm willing to be convinced that you have a valid point. What evidence can you offer?