Saturday, October 30, 2010

Diagnosing the Sick US Economy

I've taken some graphs from a posting on the blog Calculated Risk.

This shows that the US economy is slowly mending from the Great Recession:

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But the money in the pocket, the real income, of people is recovery only very, very slowly:

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And the unemployment situation is even worse. There has been very little healing:

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What do these graphs show? That money is being made, the economy is reviving, but it is all going to the top 1%. The income in wages isn't coming back and the jobs certainly aren't coming back. The US economy is very, very sick. Unfortunately Obama has decided to focus on issues other than jobs and the economy in his first two years in office. He has left people to sink-or-swim. He's had plenty of time to help the Wall Street banks. He's more than willing to create new tax breaks. But he isn't willing to make any substantive moves to get the economy growing in a way that will help the bottom 99% of the population.

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