Obama's Misery Index Approaches Carter Years
In the past 30 years if you were in the top 1% economic class your inflation-adjusted incomes grew by 224%. The top 0.1% grew by 390%. In contrast, the bottom 90% struggled with only a 5% growth in incomes.[ref] Whoop-tee-do! A 5% increase over 30 years is pathetic!
According to the Credit Suisse's annual Global Wealth Data Book, America's middle class ranks 27th in the world. Are they serious? I thought the United States was the wealthiest country in the world.
The U.S. misery index has reached its highest level since May, 1983. I remember the Carter years. The only thing missing today is the 18% interest rates. So how can the index be so high in the Obama years without double-digit interest rates? For starters, I remember having a job back then. Today, a lot of us don't have jobs, 50% of the population receives government checks, the population is aging, and the dollar has plummeted in value.
What burns my behind is the fact that our Government continues to spend money in spite of the American taxpayer screaming to "please stop!" President Obama just spent a cool $60 million (Newsmax says a $100M) traveling to Africa where he had the gall to tell the folks that "the planet will boil over" if people in Africa are allowed to attain air conditioning, automobiles and big houses. On Wednesday Obama spoke 1 hour and 6 minutes about jobs and the economy. Fred Barnes called it a "predictable bust" with "tired ideas." Currently in Congress we have elected Elites who wine and dine themselves at taxpayers' expense that think Amnesty for 11 million illegal aliens is just sharing the American Dream. What American Dream? Do these politicians realize that providing jobs for these illegals, funding their welfare, health care and education are not possible unless the working middle class are able (or willing) to pay for it?
The decline of the American middle class is a national tragedy. The United States professes to the world that our form of Democracy is the greatest thing next to Mom's apple pie; who are we kidding? There can be only one reason for the decline of the middle class in America; that decline is by "political design." The ruling political class in the United States believes that social welfare, big government, progressive taxes and crony capitalism should take precedent over middle class businesses and its working men and women. Many of us have seen a real decline in our savings accounts, home values, work hours and wages. Couple this decline with increasing taxes, gas prices, food costs and insurance premiums and you can understand why middle class incomes often feel like just survival.