‘Victory Friday’: White House Responds to Victory Over National Injunctions
BREAKING: SCOTUS Rules on Rogue Judges, Impacting Birthright Citizenship
MSNBC Is Melting Down Over the Supreme Court's Birthright Citizenship Ruling
That Is a Brutal Footnote in the Supreme Court's Ruling on Birthright Citizenship
New York City Mayoral Candidate Wants to Raise Taxes – On White People
New York Socialist Zohran Mamdani Uses Martin Luther King Jr. to Push His...
The Supreme Court Just Ruled on This State's Pornography Law
In Kennedy v. Braidwood, SCOTUS Upholds ACA’s Preventive-Care Mandate
More Major Food Companies Embrace the MAHA Movement With Latest Announcements
DHS Highlights the 'Worst of the Worst - LA Edition'
Gavin Newsom Is Suing Fox News. Here's Why.
So Book Bans Are Okay Now? San Francisco Store Won't Sell JK Rowling's...
Two Leftist Heroes Have Been Ordered Released From Custody
SCOTUS Hands Down Ruling in Landmark Parental Rights Case
Here's the Shocking Reason Why '160 Democrats' Was Just Trending on X
Tipsheet

White House Admits Obama Recovery Has Made Inequality Worse

The White House Council of Economic Advisers released the Economic Report of the President Thursday, a document which noted that median family incomes are down since President Obama took office and inequality is up.

Advertisement

"There is no denying the strength of the aggregate recovery," the report reads, "but its benefits have not yet been fully shared with the middle class."

Not only have the "benefits" of the Obama recovery not been "fully shared," but many Americans are still worse off today than when Obama became president. 

According to the Census Bureau, median family income was $54,059 when Obama became president in 2009. In 2013, the most recent year available, median income was just $51,939, a tiny $181 increase from $51,758 low of 2012.

The Economic Report also notes that inequality has only gotten worse during the Obama recovery. "Broadly speaking, the [Survey of Consumer Finances] shows that the recovery in net worth has been uneven for households across the income distribution, as the top 10 percent of income earners have regained much of their wealth through 2013, on average, than the bottom 90 percent of earners." 

Advertisement

"Such an uneven recovery," the report continues, "implies that wealth inequality has continued to increase in recent years."

The report does claim that Obamacare and Obama's 2012 tax hikes have "mitigated" the rise in inequality, but no where does the report mention how Obama used distressed middle class homeowners to bailout Wall Street banks or how Obama's unemployment policies cost the economy 1.8 million jobs.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Advertisement
Advertisement
Advertisement