Ah, "Hope and Change," don't ya just love it. What sounded so good to so many just a few short years ago has been pretty much of a disaster no matter how you look at it. I only say that because there is a Federal Reserve report that points out the fact that American families now have about the same net worth under Barry's administration that they had 20 years ago when George H.W. Bush was in the White House, leading one Republican strategist, a fella by the name of Bradley A. Blakeman to say, “It’s like Groundhog Day.” “This is a scary and ominous sign, not only of the present but of the future,” charged Blakeman in an exclusive interview after the findings were released. “It’s like. . .we’re back in 1992. It is bizarre."
So, according to the Fed’s most recent findings, which are contained in its latest Survey of Consumer Finances, the median wealth for families can now be said to have 'plunged' by 39 percent to $77,300 in 2010 and that's down from $126,400 in 2007. Former GOP presidential candidate Rick Santorum agreed with Mr. Blakeman assessment in an email to supporters. “Regardless of what President Obama says, the private sector is not doing fine,” penned the former Pennsylvania senator. “Out of control government spending, growing entitlements, heavy regulatory burdens and national debt continue to impede business growth. We need jobs, but in this environment, business growth is almost impossible.” Nothing I can add to that, sums things up rather nicely.
Blakeman, who was a senior member in the last Bush administration, noted that net worth literally takes years for Americans to build up. “People are looking at their IRAs. They’re looking at their housing prices — and you’re supposed to appreciate in value, not depreciate,” said Blakeman, now a professor of public policy, politics, and international affairs at Georgetown University who appears regularly on Fox News and also is a Newsmax contributor. “We’ve been in a depreciation cycle, which has hurt people — especially of retirement age, or people who have been retired a while — because they’ve seen their incomes drastically reduced and now they have a problem making ends meet.” Which is something a great many of us are now experiencing.
Regarding those families who owned homes, the Fed survey found that their median home equity declined significantly, going from $95,300 in 2007 down to $55,000 in 2010, and that's a drop of over 40 percent. The Fed survey also found that median incomes also fell from $49,600 in 2007 to $45,800 in 2010, a drop of over 7 percent. “This tells me that the recovery that the president claims — that the private sector is doing fine — certainly shows that the private sector is not doing fine at all,” added Blakeman, noting that the report demonstrates the fact that our "Dear Beloved Leader", Barry, has done very little, if anything, to raise up average Americans under his watch. Of course Barry's entire plan is to get as many of us as possible hooked on the government.
In making a case regarding just how bad things have really gotten, Mr. Blakeman pointed out, “All you have to do is look at housing prices that have tumbled. Look at your IRAs. My IRA is down about 30 percent.” Blakeman went on to say, “And it’s likely not to recover any time soon to what it was prior to 2008. So instead of me being ahead — or even catching up to where we were in 2008 — we’re still far behind. The net worth of the average American has tragically been reduced and this president is the reason why the recovery has not happened. We’re digging ourselves a deeper hole, both in net worth and in future debt.” Now if I was a suspicious kinda a guy, I might be thinking that that's been Barry's plan all along. Lucky I'm not suspicious.
The proportion of families with debt that had a debt payment that was late by 60 or more days during 2010 rose to 10.8 percent and that's up from 7.1 percent in 2007. “It is fair to blame the president because our country is not showing the signs of recovery because of his policies,” Blakeman insisted, pointing to Barry "Almighty’s" emphasis on healthcare reform over the economy while a growing number of Americans continued to suffer. Put another way, Barry used his majorities in both houses of Congress not to help the American people but, instead, to advance the liberal agenda. “Businesses and everybody are being put on hold while the Supreme Court now takes on this case. He created a constitutional crisis on healthcare at the expense of the economy and the housing crisis."
So, as we now approach this next election, might the question now in need of being asked, not be, "Are you better off than you were 4 years ago," but instead, "Are you better off than you were 20 years ago?" And apparently the answer to that should now be quite obvious. I fail to understand how it is that anybody who is genuinely concerned about where we are as a country can actually consider voting for Barry. We are most definitely headed in the wrong direction. The amount of damage that has been done to this country and in such a short period of time is nothing short of staggering. And stop and think for minute what he'll be working to accomplish when he no longer has to worry about another election. He'll feel completely free to create all manner of havoc.
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