Obama is out on the campaign trail, embarrassing himself, trying to Obama’s trying to rewrite history – but, not so fast.
Let’s face it – Obama’s policies only benefited big business, urban interests, big banks, and foreign interests, like China, who happily snatched up a bunch of real estate in our cities
In truth, the Obama economy was about federal jobs and part-time burger flipping jobs.
His policies and regulations suffocated the working class and suffocated the heartland.
Now, however, Trump’s economic policies are starting to breathe life back into the middle class.
Thanks to President Trump, we now have good full-time jobs with living wages and benefits, in manufacturing and related sectors.
These are jobs all across the country…..not elite jobs and federal jobs in certain progressive areas, like Silicon Valley and Hollywood.
Furthermore, employers have to compete to get workers.
After 8 years of suffocating under Obama, the American middle class can finally breathe again.
Americans can finally breathe again because of Trump’s America First agenda.
The collapse of Lehman Brothers 10 years ago today began the financial crisis that crippled and even killed for some the American dream as we had known it. Donald Trump might be starting to change that, at least for Americans who aren’t determined to remain in our bluest and priciest cities.
Overall an estimated nine million jobs and nearly $20 trillion in household wealth were lost. Job levels finally recovered but most of those who suffered from the Great Recession—and particularly current and former middle-income homeowners—did not see their wealth restored when the economy turned around.
Perhaps worst of all, the recession undermined our traditional belief in a better day ahead. Just one in five Americans is confident that life for today’s children will turn out better than it did for their parents, according to a 2014 survey conducted by NBC News and the Wall Street Journal.Nearly three in five Americans expect today’s children to be worse off, according to a 2017 Pew survey.
Some of this pain was self-inflicted, to be sure, as buyers seeking to catch up and get ahead of the market—they thought prices would just keep rising—drove up the home-ownership rate with dodgy loans many could not afford to repay. After approaching 70 percent, the rate is now back in the 63-to-65-percent range of the quarter-century preceding the housing bubble.
But there are two key reasons that most Americans still haven’t recovered their wealth or position from a decade earlier, and that most young adults find themselves starting the race far behind: slow wage growth across the nation and increasingly unaffordable housing prices in the most expensive , and often most desired markets.
Wages for working and middle class people, at least until this year, have stagnated. Overall, only upper-income households have recovered financially from the Great Recession, while the vast majority of middle-income and lower-income households have yet to recover their pre-recession wealth, according to Pew.
In the meantime, housings costs have kept climbing, driven by conscious but misguided policies, particularly in coastal states, that have restricting new building. National Association of Realtors second quarter data shows median house prices in many deep blue enclaves areas have shot past their 2008 bubble peaks. In Portland, Seattle and San Francisco, prices are up 30 percent over the decade. In Denver, prices are up more than 80 percent. They have risen 60 percent in San Jose, where the median price for houses is now a staggering $1.4 million.