Almost a third more people are living paycheck to paycheck from only a few years ago.
Anytime anyone brings up our economic malaise, liberals like to chime in to talk about how great the economy is under Obama. They talk about how rich they are, how great their portfolios are, how great the stock market is doing, how little they have to work, how they get to live off their parents’ sizable inheritance, and they wonder why everyone isn’t celebrating like they are. Their only conclusion is that the people poo-pooing the economy must be racists who don’t like Obama because he’s half-black.
It reminds me of one of the Presidential debates from way back in 2007 in Michigan, when a lot of these economic troubles were beginning. After most of the Republican candidates painted a rosy picture of the economy and said there was nothing to worry about, Ron Paul chimed in:
“Today, this country is in the middle of a recession – for a lot of people. Michigan knows about it. Poor people know about it. The middle class knows about it. Wall Street doesn’t know about it. Washington, D.C. doesn’t know about it….”
In other words, the rich keep getting richer, and the poor keep getting poorer. The people getting richer are going to think everything’s hunky-dory. But the vast majority of Americans aren’t in that category. They’re going to have a much more realistic perspective of the economy.
I remember conservative talking heads scorning Paul’s words, saying he was an idiot, a crackpot, and a crank for daring suggest that we’re either in a recession or headed for one. But he was dead right.
Nothing screams economic recovery like 2 out of every 5 Americans living paycheck to paycheck. Especially when that number has reportedly increased by 33% since 2012.
Perhaps someone should inform these destitute plebs that the stock market is up nearly 45% over the past two years, and after all, nothing says economic success like the 0.01% enriching themselves via fraud and financial engineering.
Here are two of the most sobering findings from the survery:
40 percent of the consumers we surveyed said they are coping with the challenge of living paycheck to paycheck, up from 31 percent in 2012.
Today just 23 percent say they are optimistic about the economy, down from 27 percent at the beginning of the recession in 2009.
What matters is not the liberal one-percenters. They’ll always tell you everything’s great, and that we should all pat Obama on the back for a job well done. What counts is the majority of hard-working Americans who are finding it more and more difficult to make ends meet. The government continues to over-spend, over-tax, over-regulate and over-inflate. Costs continue to go up as a result, while the value of the dollar continues to go down. Our economy is a house of cards, and until people change their attitude with regard to what the role of government ought to be in the economy, we will never experience any kind of real and lasting recovery.