Are You Better Off? Obama Economy Still Not Working For Families

by A.F. Branco

Every week, there are new stories about how the Obama economy is just not working for families across the United States.  Over a year ago, a CNN poll noted that 80% said "The Economy Is In Bad Shape."  And today we still note below that the economy is still in bad shape.  It has not improved under the leadership of President Obama.  And, Obama's "few bumps along the way" have turned into cracks and now open pits in which not only individuals but families are trapped.  More news on this follows.

The Wall Street Journal reports today, “Americans’ everyday costs inched up for the second straight month in September . . . . The consumer-price index, which measures what people pay for everything from bread to dental care, rose a seasonally adjusted 0.6% in September from a month earlier, the Labor Department said Tuesday. That matched the rise in August, which marked a three-year high, reflecting a surge in gasoline costs related to refinery disruptions and Mideast turmoil. . . . The cost of medical care rose 4.1% in September from a year earlier, a faster pace than the 3% increase recorded in 2011, according to the Labor Department. . . . Most Americans not receiving government benefits aren’t seeing sufficient income boosts to keep up with rising costs. Tuesday’s data also showed that for the second consecutive month, consumer prices rose more quickly than wages, with workers’ inflation-adjusted hourly earnings falling by 0.3% in September. That leaves U.S. consumers with less money to spend after taxes and bills, a development that could crimp their spending in coming months, draining a key source of growth in the nation’s economy.”

Meanwhile, according to the Pittsburgh Tribune-Review, “One in four Pennsylvania households do not make enough money to meet the family’s basic needs, according to a study released on Tuesday that takes into account costs on a geographic level. . . . The report, sponsored by PathWays PA, a Philadelphia area organization that provides services for women, children and families, found that nearly 26 percent of Pennsylvania households have inadequate incomes that fall below a self-sufficiency standard. . . . The study, which focuses on data from 2010, showed that the percentage of households under the self-sufficiency standard increased five percentage points since 2007.”

Last Month, Senate Republican Leader Mitch McConnell said, “For two long years, the President and Democrats in Congress laid the foundation for the economy we’re in. They were so sure it would work that the President said if it didn’t he wouldn’t deserve reelection. And it didn’t. So for the last two years, Republicans in Congress have done everything we could to convince the President to change course. He didn’t. He doubled down on the same failed policies. And when he wasn’t able to get them through Congress, he blamed Republicans for the consequences. Well, blaming us for the results of his policies is almost as ridiculous as concluding that the vision behind them will be any more successful over the next four years than it has been over the last four.”

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