That's not how I read it, pokey. In my view, Obama's stimulus averted a depression, but we still had the worst recession since 1929, thanks to the Bush administration allowing it. The timing of this with it's massive job losses was truly unfortunate, arriving just as China and India are in ascension, and as combinations of robots and software are replacing many jobs.
 No humans in THIS picture!
Between the robots and software and jobs being off-shored, most of the jobs lost were lost forever. This wasn't Obama's or Bush's fault, just an accident of timing with our Great Recession. Robots and software will continue to replace jobs, not just of factory workers, but of professionals as well.
The fact that working folks are making less than they used to is just the continuation of a thirty year trend coinciding with Reaganomics, who's tax policies reward the wealthy and punish working people. Working folks wages have actually DECLINED in the last 30 years, adjusted for inflation, although productivity has soared. The rewards for this increased productivity haven't been shared with the workers as in the past, but instead only flowed to the wealthy investors.
Obama is working to change this, but he needs the cooperation of Republicans, which he'll NEVER get, so the situation continues. He does what he can. |
