From the Washington Times:

Real personal income for Americans – excluding government payouts such as Social Security – has fallen by 3.2 percent since President Obama took office in January 2009, according to the Commerce Department’s Bureau of Economic Analysis. . . .

“This is hardly surprising,” said Douglas Holtz-Eakin, an economist and former director of the nonpartisan Congressional Budget Office. “Under President Obama, only federal spending is going up; jobs, business startups, and incomes are all down. It is proof that the government can’t spend its way to prosperity.”

You can’t argue with the data when you have a sample size of 200 million workers. Businesses just don’t invest in growth when they are concerned of what the government might do. Public companies have to make quarterly numbers to satisfy their shareholders. If companies aren’t willing to invest in growth, usually the opposite occurs. Businesses tighten their belts and continually cut back to increase margins. This is the environment created by the current administration.

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