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/ Economy / The Insiders: Stubborn facts and polls

The Insiders: Stubborn facts and polls

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Shindiri Studio on October 1, 2013 - 3:45 pm in Economy

Economic policies are helping rich

‎And while the president loves to surround himself onstage with middle class families while he waxes poetic about how much he’s helping them, the truth is that Obama’s economic policies are only helping the rich get richer. In fact, the Associated Press reported last week that, “in 2012, the incomes of the top 1 percent rose nearly 20 percent compared with a 1 percent increase for the remaining 99 percent.” ‎

This income equality gap — now the largest since the 1920s — shows that Obama’s policies are failing miserably, with the middle class bearing the brunt of his no-growth economy. No president has been better for the 1 percent than Obama.

Try to regain some momentum

It seems like it has been 10 years, but in reality it has been less than 10 months since the president’s second inauguration. And as President Obama tries to put Syria behind him, nothing on the domestic agenda looks promising. I don’t know what the opposite of the Midas Touch is, but that’s what Obama has.

To try and regain some momentum and credibility domestically, the president is attempting to pivot back to the economy (yet again.) But his remarks yesterday, on the five-year anniversary of the Lehman Brothers bankruptcy, seemed tone-deaf, as he lashed out at Republicans on economic issues while the tragic events of the Navy Yard shooting were still unfolding.

Obama was also dealt an embarrassing blow this week as Larry Summers withdrew his name from consideration for Federal Reserve Chairman. I wasn’t even for Summers getting the job, but this was another telling sign that the president lacks any political capital on the Hill — among members of either party. If he wasn’t so weak, he might have gotten his pick for the Fed, but as it is, he must defer to the loud voices making demands. The president does not have any influence with members of Congress but it helps a great deal.

Reasons why we should not allow this to happen

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Summer vacations may become more painful

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Wedding expenses will go balistic

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Say goodbye to that new car smell

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We have said enough, or have we?

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