How Obama loves the poor SOOO MUCH, especially the black, that they have had the largest single drop in income ever

The Census Bureau has just published it latest Income and poverty data for U.S.(2010). The data goes back to 1967.

The report here:

Income, Poverty, and Health Insurance Coverage in the United States: 2010

http://www.census.gov/prod/2011pubs/p60-239.pdf

                         Another hole in one!

It is really a terrifying reading – Under Obama the poorest Americans has suffered the single largest drop in income ever.

Take a look at this chart (done by Justin Hart, http://ihartpolitics.com/?p=308) –

It shows the % change in the lowest quintile median incomes, the poorest Americans, from 1968 (in 2010 dollars)

And the drop is – 6.04% in one year (2010)

And then let’s have a lock at Black Americans in the same lowest income quintile.

They have suffered almost double as the average American in the same quintile under Obama:

The drop is – 11.58% in one year (2010) and is at the lowest level ever.

That’s what I call “change”! But I wouldn’t call it “hope”.

Some other highlights in the name of hope and change:

– Median household money income for the nation was $49,400 in 2010, a decline of 2.3 percent from 2009, in real terms.

– The 2010 official poverty rate for the nation was 15.1 percent, up from 14.3 percent in 2009, with 46.2 million people in poverty, an increase of 2.6 million since 2009. The highest percentage since 1993 (15.1%) and 1982 (15.2%), and the largest number in the 52 years for which poverty estimates have been published.

The 2010 official poverty rate for blacks was 27.4 percent, up from 25.8 percent in 2009, with 10.7 million people in poverty, an increase of 731 000 since 2009. The highest percentage since 1996 (28.4%), and the largest number in 17 years.

– The decline of Real Median Household Income among the15 to 24 years was – 9.3%.

                               Are you extremists?

Obama had three pillars that swept him to power – huge turnout among young (under 30), Hispanics and Blacks. Now the young and Hispanics are gone, down to 43-44% as the rest of the population. So he is toast.

But the blacks are still overwhelmingly behind Obama (around 81%).

The obvious question is why? Since under Obamas “eminent leadership” they have had the biggest drop in income and living standard ever. Not to mention skyrocketing unemployment.

With so much “hope” and “change”, I guess that’s why he is so “popular”.

____________________________________________

A quick update on September 27 to my post:

I wrote:

“Obama had three pillars that swept him to power – huge turnout among young (under 30), Hispanics and Blacks. Now the young and Hispanics are gone, down to 43-44% as the rest of the population. So he is toast.

But the blacks are still overwhelmingly behind Obama (around 81%).

The obvious question is why? Since under Obamas “eminent leadership” they have had the biggest drop in income and living standard ever. Not to mention skyrocketing unemployment.

With so much “hope” and “change”, I guess that’s why he is so “popular”.

Well, it seems that the blacks have started catching on because now Obama is losing the blacks too in a BIG Way

According to a Washington Post/ABC News survey, his favorability rating among blacks has dropped off a cliff, plunging from 83 percent five months ago to a mere 58 percent today a drop of 25 points!

In the election of 2008, he was able to increase black’s participation from 11 percent of the total vote in 2004 to 14 percent. And he carried 98 percent of them.

Way to go Obama!

                Click on the graphs for a larger image

                        Jobb aproval economy

                              State of the country

Some more revealing graphs of Obama economics

This graph shows the job losses from the start of the employment recession, in percentage terms – this time from the start of the recession. This is by far the worst post WWII employment recession.

This graph shows the number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers). A very high level.

This graph shows the number of workers unemployed for 27 weeks or more. The level is extremely high.

 

                                          It was Bush’s fault!              

            

See also some of my previous posts:

Hey Obama – You don’t pay your bills so why should I?

In three graphs – Obama Economics

Why, Mr President, are you deliberately destroying the American way and committing economic harakiri?

America, You are at a tipping point and you have your last change to stop it – Part 1

America, You are at a tipping point and you have your last change to stop it – Part 5

America, You are at a tipping point and you have your last change to stop it – Part 6

America, You are at a tipping point and you have your last change to stop it – Part 8

America, You are at a tipping point and you have your last change to stop it – Part 9

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4 svar to “How Obama loves the poor SOOO MUCH, especially the black, that they have had the largest single drop in income ever”

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