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Income falls 3.2% during Obama’s term
Posted By admin On April 13, 2010 @ 3:56 am In U.S. News | Comments Disabled
Washington Times 
April 13, 2010
Real personal income for Americans – excluding government payouts such as Social Security – has fallen by 3.2 percent since President Obama took office in January 2009, according to the Commerce Department’s Bureau of Economic Analysis.
For comparison, real personal income during the first 15 months in office for President George W. Bush, who inherited a milder recession from his predecessor, dropped 0.4 percent. Income excluding government payouts increased 12.7 percent during Mr. Bush’s eight years in office.
“This is hardly surprising,” said Douglas Holtz-Eakin, an economist and former director of the nonpartisan Congressional Budget Office. “Under President Obama, only federal spending is going up; jobs, business startups, and incomes are all down. It is proof that the government can’t spend its way to prosperity.”
According to the bureau’s statistics, per capita income dropped during 2009 in 47 states, with only modest gains in the other states, West Virginia, Maine and Maryland. But most of those increases were attributed to rising income from the government, such as Medicare and unemployment benefits.
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URLs in this post:
 Washington Times: http://www.washingtontimes.com/news/2010/apr/13/personal-income-falls-32-during-obamas-15-months/
 Image: http://purewaterfreedom.com/
 Californians’ income falls for first time since WWII: http://www.prisonplanet.com/californians-income-falls-for-first-time-since-wwii.html
 New Yorkers’ Income Falls for 1st Time in 70 Years: http://www.prisonplanet.com/new-yorkers-income-falls-for-1st-time-in-70-years.html
 Here Are The 47% Of The Population Who Don’t Pay Federal Income Tax: http://www.prisonplanet.com/here-are-the-47-of-the-population-who-dont-pay-federal-income-tax.html
 Personal Income Drops Across the Country: http://www.prisonplanet.com/personal-income-drops-across-the-country.html
 45%: Obama’s Gallup Weekly Job Approval Drops to Second-Term Low: http://www.prisonplanet.com/45-obamas-gallup-weekly-job-approval-drops-to-second-term-low.html
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