Barack Obama enters the final two years of his presidency with a blemish on his legacy that looks impossible to erase: the decline of the middle class he has promised to rescue.
The revival of middle-class jobs has been one of Obama's mantras since he took office in 2009 fighting the worst economic crisis in generations. It was a major theme of his last State of the Union address and is expected to feature in the one scheduled for Tuesday.
Obama's administration can take credit for stabilizing the U.S. economy, which is growing again and last year added jobs at the fastest clip since 1999.
But for the middle class the scars of the recession still run deep. Federal Reserve survey data show families in the middle fifth of the income scale now earn less and their net worth is lower than when Obama took office.
In the six years through 2013, over the recession and recovery that have spanned Obama's tenure, jobs have been added at the top and bottom of the wage scale, a Reuters analysis of labor statistics shows.
In the middle, the economy has shed positions — whether in traditional trades like machining or electrical work, white-collar jobs in human resources, or technical ones like computer operators.
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6 comments:
More people have given up looking!
More people had to take lower pay and/or fewer hours.
More people applied for disability.
More people applied for unemployment.
More people applied for welfare.
Thanks for lifting up the middle class!
I'm as middle class as you can get and I want to say thanks for nothing !! Obama you are a complete liar and a fake. You are the epitome of what a leader should not be!! Help the middle class - give me a break. It's more like, help yourself and claim you are helping the middle class.
Under employed, struggling everyday to make a living so that you, Obama, can live in your ivory tower claiming to be the great savior of middle class.... what a joke you are.
Obama is 2/3rds of the way to Communizing America!
The oligarchs become richer, the middle and lower class are subject to "equality" for the masses.
Battle ready police state, Government privacy violations as status quo, "hate speech" violations/censoring...
Classic Communism!
That is Obama's legacy.
Ditto3:36 ..governments prepped for something...most sheeple dont see the vice tighting on our freedoms and necks..? Is are .YOU GONNA TAKE THE MARK?
I did not listen to Obama's empty words last evening as I cannot stomach even to look at him - a liar and fake is an understatement! Can't believe people still think he is doing a good job - now 50 percent approval. Blind leading the blind.
The 50% approval lie is just MSM spin. Funny in 40 years I never have gotten a call or pole form to fill out on these type of questions.
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