What the Obama Recovery REALLY Looks Like
With Hillary Clinton running as the heir to Barack Obama, it's worth examining his economic record. Turns out, it's not so hot:
Fifty-one percent of working Americans make less than $30,000 a year, new data from the Social Security Administration (SSA) shows.
That’s $2,500 a month before taxes and just over the federal poverty level for a family of five. The new numbers come from the National Wage Index, which SSA updates each year based on reported wages subject to the federal income tax.
In 2014, half of working Americans reported an income at or below $28,851 (the median wage), and 51 percent reported an income of less than $30,000. Forty percent are making less than $20,000. The federal government considers a family of four living on an income of less than $24,250 to be impoverished.
It's worth mentioning, because most of the press won't, that Bernie Sanders has been running against the Obama economic record for months, pointing frequently to stagnant wages and the unemployment rate. One would think that this would be newsworthy, but it's not. Perhaps this is why political outsiders are dominating the election so far. As is usually the case, the American people are way ahead of the politicians. The conservative candidate who wants to win would do well to harp on how Obama's billions in stimulus spending have helped create eight years of stagnation and desperation.