Washington, DC…September 4, 2012””American Majority Action President and CEO Ned Ryun released the following statement today in reaction to reports that the real median household income has fallen by 4.8 percent or more than $4000 annually during the Obama presidency.
“Despite President Obama’s claims that the “private sector is doing fine” and his economic program is working, Americans know he’s out of touch with reality. Household incomes are falling more sharply than during the actual recession, hitting American families hard and proving once again that Obama’s promises of growth were hollow. Instead, the president has spent three years trying to borrow and spend our way to recovery. The resulting deficits and dangerous debt levels are crushing jobs and household incomes.
Household incomes have dropped an average of $4000 per year since Obama entered office despite trillions spent on his pro-government agenda. Obama’s anti-growth policies are shrinking our wallets. Less than one third of Americans say they are better off now than before the recession started. Their income has dropped 4.8 percent since the start of the so-called Obama “recovery,” forcing the average family to do more with less while government continues to spend without restraint.”
Thomas J. Basile