Well, the election’s over so it’s OK to let the cat out of the bag.
The economy sucks. It sucks for recent graduates who overwhelmingly voted for Barack Obama and it sucks for every other age group, too.
obama jobs line
Barack Obama is the worst jobs president since the Great Depression.

The New York Times reported:

Young graduates are in debt, out of work and on their parents’ couches. People in their 30s and 40s can’t afford to buy homes or have children. Retirees are earning near-zero interest on their savings.

In the current listless economy, every generation has a claim to having been most injured. But the Labor Department’s latest jobs snapshot and other recent data reports present a strong case for crowning baby boomers as the greatest victims of the recession and its grim aftermath.

These Americans in their 50s and early 60s — those near retirement age who do not yet have access to Medicare and Social Security — have lost the most earnings power of any age group, with their household incomes 10 percent below what they made when the recovery began three years ago, according to Sentier Research, a data analysis company.

Their retirement savings and home values fell sharply at the worst possible time: just before they needed to cash out. They are supporting both aged parents and unemployed young-adult children, earning them the inauspicious nickname “Generation Squeeze.”

More… Most seniors don’t need a chart to know that their Social Security cost-of-living adjustments are not keeping pace with inflation.

 

 

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  1. An act of journalism years too late. Not that the low info voters or demogogues will even filter this through their strange brains.

    I get no satisfaction from this, only sadness for my children looking for jobs, the three friends of mine who were laid off last week and the people I know who are walking away from their homes of two decades just to keep their kids in college.

    People are manipulating the system all over the place and the basics of right and wrong are topsy turvy. Looking for a light at the end of the tunnel.

  2. Your implication that this is the first report on the economy since 2008 is woefully inaccurate. You are just now discovering that the housing bubble collapsed wrecking our economy?

  3. #2 February 4, 2013 at 7:37 am
    Jeffery commented:

    You are so dense that light, let alone a thought, doesn’t escape your cranium. This is the New York Times finally talking about the state of the economy. The NYT did a superlative and masterful full-on Monty, as did the rest of the American Pravda propaganda complex, hiding the true state of the economy BEFORE the election so the Jug-eared Messiah would be re-elected. It is safe now to tell the truth.

  4. The people about to feel the sharp sting of outrageous government spending will be the very same people who have advocated such policies for two generations, baby boomers. Haha, deal with it cause its about to get a whole worse. Now big daddy government wants to help manage your 401k and IRA, deal with it, I hope the crap you’ve been forcing everybody’s throat for 50 years bites you in the a$$, hard. And you aging hippies, good luck growing old with big daddy providing all that awesome health care…….hahahahahaha!!!!!

  5. THE other implication of course is liberals are too stupid to know better. The times will be doing this for 2 years more until the year before election when they will start the big lies again

  6. It’s not a recession, it’s a fundamental transformation.

  7. The problem is, the idiots in charge will now double down on their failed policies.

    They won’t take any blame for the disaster, they will just assume they need to regulate and tax more.

    Just wait until the Federal Reserve’s QE policies finally fizzle out, the hyper inflation that will enuse will make the current malaise look like a fun holiday.

  8. Jeffery,

    Gateway is referring specifically to the last election cycle, during which the NY Times either talked up the economy or, when it couldn’t do that, didn’t mention it at all. And that is an accurate accessment of the way the Times operates. Now that the election is won, they can run the occasional “news” piece in order to maintain the pretense of being an actual “news” organization, rather than the corrupt hacks that they are. Your 2008 housing-bubble reference, while certainly relevant to the state of the economy, in no way relates to Gateway’s point about the journalistic malfeasance of the Times in covering the last election.

  9. Yeah …people are hurting but the important thing is that there is more fairness.
    All those people who have worked hard all their lives need to understand what it is like to be poor.
    They have had too much for too long.
    They can thank Obama for that.

  10. There is no sense in trying to reason with Jeffrey. He will get it only when we hit bottom. Then, he will blame it on the Republicans.

  11. And people wonder why the federal government is reportedly buying up the most popular size of consumer purchased ammunition?

  12. Reading comprehension is obviously not Jeffies’ strong suit

  13. #2 bo dean
    You don’t know didaly squat!

  14. Hyper-inflationary Depression 2.0

    Prepare or die.

  15. But how can the economy be bad? Didn’t Obama fix it by taxing rich people more?

    /sarc

  16. The NYT covered the Abu Grabiq prison incident where no one was injured on their Front Page for 35+ days BUT has completely ignored the Benghazi killings of four Americans. Of course, the Benghazi murders were before the election. If the Times is beginning to tell the truth about the economy now that the election is over, we can only pray that they will begin to tell the truth about Benghazi and why the President and Hillary lied and blamed the video for two weeks.

    Questions of the Day: Why aren’t our Congressmen being allowed to question the Benghazi survivors? Is this because there were no survivors?

  17. > #2 February 4, 2013 at 7:37 am
    > Jeffery commented:
    > You are just now discovering that the housing bubble collapsed wrecking our economy?

    While you now continue to skate past the perverted moronic libs who drove the idea that people unable to afford such housing should have it anyway? May you and your ilk be the first victims of the zombie generations – one of those knitting while the purges rage and the guillotine falls. Well, probably not even that, as you’ve already and repeatedly shown your commitment to zombie thinking – I suspect you are or will be in their front ranks. Pathetic fool.

  18. Obama sucks. That’s why the economy sucks. He will talk about anything including how gays should be in the boy scouts but not talk about the economy. Sad…

  19. Ah the NY Slimes . . All the News that SH!+ to Print

    And with their Nobel Economist The Ferret or Weasel Pal Krugman advocating the government spend more. . .

    Yes the government who hasn’t passed a budget in over 3 years
    The Government that has increased our National Debt by over 30% with nothing to show
    Th government that has diminished the purchasing Power of the dollar by over 10% with QE 1, 2, 3
    The Government that lies to us about real Unemployment which is OVER 15%.

    Watch unemployment claims start to rise the next 4-5 months!. . . and store start to close up. . Negative GDP people!!! A double dip recession is coming!

    Thanks Obama, DeomocRATs and RINOs. . .



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