America Returns to Its Senses… Finally a Majority Blames President Downgrade for the Economy
The Politico reported:
For the first time since President Barack Obama took office, a majority of Americans believe he deserves at least some blame for the country’s economic troubles, a new poll Wednesday shows.
According to the USA Today/Gallup survey, 24 percent of Americans say Obama deserves “a great deal of blame” for the state of the economy – a 10 point jump since 2009. A majority of Americans, including six out of 10 independents, think the president deserves “a great deal or moderate” amount of blame.
The poll also finds the public’s pessimism about the economy is growing deeper – 8 out of 10 say the the country is in a recession, and a similar number of people think it hasn’t improved in the last year.
The public’s future economic outlook has also taken a downturn, with 61 percent of those polled predicting the economy will be “the same or worse” in a year. In 2009, only 35 percent of people believed that the economy would be the same or worse in a year.
The survey found that Obama fares slightly better than his predecessor in the economic blame game – 36 percent say former President George W. Bush deserves a great deal of blame for the nation’s economic woes.
In case you still had your doubts, here are a few statistics:
Poverty rate for white Americans in 2010: 13 percent
Poverty rate for African-Americans in 2010: 27.4 percent
Real median household income in 2010: $49,445
Decline in median household income since 2009: 2.3 percent
Decline in median household income since before the recession: 6.4 percent
The last time median household incomes have been this low: 1996
Real median household income in 1999, in 2010 dollars: $53,252
Median income for full-time male workers in 2010: $47,715
Median income for full-time male workers in 1973, in 2010 dollars: $49,065
Official unemployment rate in August 2011: 9.1 percent
Total unemployed people in August: 14 million
People who were employed part-time for economic reasons in August 2011: 8.8 million
People not counted in the labor force who wanted work: 2.6 million
Net jobs created in August 2011: 0
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