Obviously, being the NY Times Editorial board, the word “Obama” fails to appear
In the United States, nearly one-third of adults, about 76 million people, are either “struggling to get by†or “just getting by,†according to the third annual survey of households by the Federal Reserve Board.
That finding, dismal though it is, represents a mild improvement in general well-being last year, compared with the two years before. The improvement, however, was clearly too little to raise Americans’ spirits: The new survey, which was conducted in late 2015 and released last week, also shows that optimism about the future has tempered.
Who’s been president these past 7+ years? Let’s be clear, when Bush was president, everything that went wrong economically was blamed on him. Yet, Obama is utterly spared from his policies that have led to the worst economic recovery post-recession since WWII. The wasted money from failed stimulus programs, obamacare, regulation after regulation, economic proposals, they have all helped to stymie economic growth.
Congress and other economic policy makers, as well as the presidential candidates, could also use the survey to get some insight into Americans’ real economic problems. Among them is deep insecurity. Nearly 70 percent of adults said they were “living comfortably†or “doing O.K.†— up a bit from previous years — but nearly half of all respondents said they could not cover an unexpected expense of $400, or could do so only by selling something or borrowing money.
Thanks, Obama and Democrat lawmakers. And these fools want more of the same our of Hillary or Bernie.
Over all, the survey depicts an economy in which many Americans face daily hardship, while even the college educated — the presumed winners in the economy — still face big obstacles. The findings argue for continued low interest rates; for government policies and federal spending to help create good jobs at good pay; for affordable education that starts at preschool, thus fostering college-ready students; and for a safety net that can withstand today’s potent economic forces.
By all means, let’s double down on the policies that have failed, while increasing the size and power of government.
