Archive for the ‘wealth’ Category
July 26th, 2011 | 
Author: .: White House Document Dump on Friday Points the Finger at …
In 2010, Creamer led efforts to rally the Democratic base by demonizing Republicans and making wildly optimistic predictions of victory: Big Government also reported in May that Creamer, who worked for the Obama …
DownWithTyranny!: Does Obama Have A Base Problem– And Why His …
Yesterday Benjy Sarlin at TPM reported that the White House is insisting they don't have a base problem. In America, we know very well they do– and it's the same base problem they kept as many as half the Democrats and …
A new ABC News/Washington Post poll reveals a whole crop of revelations, and among them, there are strong indications that Obama’s liberal base is starting to crumble.
You can read the ABC News/Washington Post Poll, but before you do, here are some of the most important nuggets of information.
In spite the hundreds of billions of blown stimulus dollars, and almost as many upturn promises from Joe Biden,
82% of Americans still say their job market is struggling.
90% rate the economy negatively, including half who gave it the worst rating of "poor."
Are You Better Off Today Than Jan. 20, 2009?
A slim 15% claimed to be "getting ahead financially", half what it was in 2006.
Fully 27% said they’re falling behind financially and that’s up 6% since February.
A significant majority (54%) said that they’ve been forced to change their lifestyle significantly as a result of the economic times and 60% of them are angry, which is up from 44%.
More than a third of Americans now believe that President Obama’s policies are hurting the economy, and confidence in his ability to create jobs is sharply eroding among his base.
Liberal Support
Strong support among liberal Democrats for Obama’s jobs record has plummeted from 22% from 53% which is down below a third.
African Americans
And African Americans who still believe the president’s measures helped the economy has plunged from 77% to barely half that.
Job Approval
Obama’s overall job approval on the economy slid below 40% for the first time, with 57% disapproving.
And strong dis-approvers outnumbered approvers by better than two-to-one.
The By And By
A new Mitt Romney video is aimed directly at the core of Obama’s politcal base, young Americans who volunteered for him by the tens of thousands in 2008 and powered him to victory in state after state.
The Upshot
If joblessness disillusions enough of them, then the president will be in even deeper trouble than he is now.
Posted in 2012, administration, banking system, congress, crisis, deficits, economy, financial system, government, job losses, jobless rate, jobs, layoffs, politics, polls, president, presidential elections, recession, Senate, stimulus package, taxes, Unemployment, US banking, US banks, US economy, wealth, White House | 
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According to the Federal Reserve’s Flow of Funds report today, net worth for households and non-profit groups decreased from $51.7 trillion in the fourth quarter to $50.4 trillion, which is the lowest level since 2004.
U.S. household wealth fell in the first quarter by $1.3 trillion, extending the biggest slump on record, as home and stock prices dropped.
Real-estate-related household assets decreased by $551.1 billion, which follows a $974.5 billion decrease in the fourth quarter, and mortgage borrowing was unchanged from January through March.
As wealth evaporated, Americans cut back on spending, and saved more, thereby blunting the effect of the tax breaks and income supplements provided by administration’s stimulus plan.
Retail sales did rise in May for the first time in three months, but the increase was solely due to people returning to automobile showrooms looking for bargains.
The economy contracted at a 5.7% annual rate in the first quarter, and consumer spending rose by 1.5%.
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