In four years under President Jimmy Carter, the US gained more than nine million private sector jobs, and with rising average real wage rates. That’s better per year than job growth under President Ronald Reagan.
More jobs were created under Jimmy Carter than under President George W. Bush and President Barack Obama combined. Under the later two, family income dropped $7,000 a year because they focused (along with Reagan, the first Bush and Bill Clinton) mostly on passing legislation that redistributed income from the 99 to the 1 percent, such as deregulation scams and free trade schemes.
Meanwhile, during the thirteen years under Obama and Bush, out of pocket health care costs soared 85 percent, tuition and fees at colleges and universities rocketed 86 percent, child care costs rose 37 percent, housing jumped 28 percent, and the median net worth of middle class families has fallen 17 percent since 2010.
Is it any wonder job creation is so bad in the US compared to the good old days? Massive amounts of income from the 99 percent have been redistributed to the 1 percent, curtailing demand for goods and services. The rich, meanwhile, spend their money on stocks, bonds, gold, politicians, corrupting government and both major political parties, and other things that do not create jobs, but actually destroys them.
Back in the good old days of Jimmy Carter, the 1 percent stole only about 8 percent of the total income produced in the USA. Nowadays, depending on the figures you use, they’re stealing 22-32 percent. They’re also stealing 95 percent of all income growth during the last four years. Thank you President Obama. Thank you Republican Party Plutocrats, such as US House Leader John Boehner.
That means the middle class is being ground down and pounded into a pulp even more under President Obama than under President George W. Bush. And Obama, with his henchmen like Wall Street Senator Ron Wyden, wants more of your income redistributed to the 1 percent via the Trans Pacific Partnership, the largest income redistribution treaty of all time.
Makes you wish we lived under the rule of the great President Jimmy Carter. He was the last president that ruled for all the people, not just the 1 percent. He probably was the last great president, though the corporate press dutifully vilifies him for not pushing for more legislation that would have redistributed income from the 99 to the 1 percent.
John Hively's Blog: News and Analysis of the War Against the Middle Class 