The economic illiteracy of the the Democrat party is on full display as Hillary tries to make the ridiculous claim that businesses do not create jobs. Thats is correct. She said that this is, “trickle down economics.” No Hillary, is the free market. I remember the 80’s and 90’s. The private sector – relatively unencumbered generated wealth and our median income skyrocketed from $30K to $50K per household.
Under Obama the medical industry has become a government regulated nightmare. Under this same administration the auto industry was turned over to the unions as a payoff for their political support in the 2008. Coal is being killed off, one regulation at a time. Under the burden of ever greater government control of the economy, we have fared worse. The Obama’s recovery has seen a greater loss in median income that the recession that came before it:
New estimates derived from the Census Bureau’s Current Population Survey by Sentier Research indicate that the real (inflation-adjusted) median annual household income in America has fallen by 4.4 percent during the “recovery,” after having fallen by 1.8 during the recession. During the recession, the median American household income fell by $1,002 (from $55,480 to $54,478). During the recovery—that is, from the officially defined end of the recession (in June 2009) to the most recent month for which figures are available (June 2013)—the median American household income has fallen by $2,380 (from $54,478 to $52,098). So the typical American household is making almost $2,400 less per year (in constant 2013 dollars) than it was four years ago, when the Obama “recovery” began.
So what is Hillary’s proposition to fix this mess? She is doubling down on Obamanomics, the false proposition that government creates jobs and wealth. This experiment has most recently failed not only here, but in Venezuela where Chavez nationalised most industries and imposed price controls. Now people there are not only not able to get gas and food, they cannot even buy toilet paper.
Most command economy statists, like Chavez and Hilary, are seeking to return us to our gentle, medieval past. A time where life was brutish, and short. A time when your betters could demand what you do in life. Hilary is now seeking to give us four more years of Obama. Under Obama the number of net new jobs is only 4,311 v. Bush’s 11,458. Both are poor performers, especially when compared to Reagan’s 167K per month and Bill Clinton’s 236K. During those presidencies the government regulatory burden was lessened. Obama is choking the economy. From the sounds of Hillary’s latest speech she is looking to only tighten government’s chokehold on the economy. Statists never learn.