The Real Reasons Why Americans Still Suffer from Economic Stress
The mainstream media continues to run interference for President Obama and protect him from any responsibility for the devastating economic conditions across the country his policies have primarily caused and perpetuated. Despite record number of Americans (92+ million) who are no longer in the labor force,. rapidly declining entrepreneurship with more companies closing than opening across America and a record-breaking poverty rate (50 million Americans now live below the poverty line), Reuters still manages to blame former President Bush (not by name, but indirectly by reference to the “Great Recession”) and give Obama a free pass on all his economically disastrous, anti-growth, and anti-wealth-creation policies he implements and continues to champion.
A quarter of U.S. families feel they are under economic stress due to the aftershock of the Great Recession and most do not expect their wages to increase in the next year, according to a new Federal Reserve study released on Thursday.
No, Reuters, many American families are not still under economic duress "from the aftershocks of the great recession" that ended 5 years ago. American families are under duress and face increasing poverty due to the anti-business, anti-growth, anti-entrepreneurship, anti-freedom, high taxes, and oppressive regulations and policies that the Obama administration has been shoving down our throats since 2009.
Despite the dire economic conditions and negative effects on middle-class families their misguided economic policies have precipitated, President Obama and the Democrats still want more tax increases, increased anti-growth government regulations, and more punitive restrictions on business activities. All the while they insanely cheerlead the increase of illegal immigration and championing the main cause of wage deflation and stagnation: “the importation of endless numbers of new cheap foreign workers across all industries.” There is nothing coming out of this White House that would signal to American businesses and workers that it is willing to change course and let the private sector -- the only real engine of value and job creation in a free-market economy -- do its job properly and bring our country back to the road of prosperity it should have been on for the last 5 years.
As Ronald Reagan proved a rising tide lifts all boats. As Barack Obama confirms a falling tide sinks all boats.
Chris Banescu regularly blogs at www.chrisbanescu.com and www.orthodoxnet.com/blog.