Obama Promise to Raise Middle Class Living Already Seen in Peril

Obama Promise to Raise Middle Class Living Already Seen in Peril

MRiRdHNxgW3ExQ

Bloomberg – President Barack Obama, who said his “one mandate” in a second term was to help middle class families, takes the oath of office with many barriers to raising most Americans’ living standards.

Most Americans started this year with a cut in take-home pay as Congress let a temporary 2-percentage-point reduction in payroll taxes expire. Workers’ own leverage to gain wage increases will be limited for years by competition from the swollen ranks of jobless Americans as forecasters expect the unemployment rate to remain at or above 7 percent through 2014.

Even with bright spots such as signs of strength in housing and an energy boom that’s lowering fuel costs for manufacturers, forecasters predict a slower expansion as federal tax increases and spending cuts crimp growth and demand for exports drops with a weakening global economy. While the U.S. economy advanced at a 3.1 percent rate in the third quarter, growth of just 2 percent is seen this year, according to the median estimate of economists surveyed by Bloomberg.

More

Get Free Email Updates!

Signup Now to Receive Updates and Alerts!

We will never give away, trade or sell your email address. You can unsubscribe at any time.

@https://twitter.com/candicelanier

Candice writes for several publications, including The Christian Post, Red State, The Black Sphere and Patriot Update. She is the Science & Tech Editor at the Minority Report Blog and the founder and Editor-in-Chief at Front Lines. She's also the founder of Candice Lanier's Tech News and works as a computer consultant. Additionally, Candice is an antiques dealer.

More in

boehner-iraq

Boehner To Obama: Get A Strategy On ISIL

Streetwise_ITMay 21, 2015
Bill and Hillary Clinton at a St Louis campaign rally in 1992, Bill Clinton's final day of campaigning in St Louis, Missouri (Photo by Visions of America/UIG via Getty Images)

The Real War On Women – Chickens Coming Home to Roost

Michael BeckerMay 21, 2015
ClintonFoundation

Liberal Billionaire Steyer, Univision Also In Bed With Clinton Foundation

Steve FoleyMay 21, 2015
fcc_0

#SubCommTech Approves 7 Bills to Open FCC Doors to the American People

Steve FoleyMay 21, 2015
520rand-1250x650

Heritage: Should the NSA ‘Spying’ Program Be Illegal? What 2016 Contenders Say.

Steve FoleyMay 21, 2015
AbolishTheFCC

It’s Getting Worse: The FCC’s Internet Takeover is Not Good for Anyone.

Steve FoleyMay 21, 2015

The Minority Report is a network of websites devoted to Conservative & Libertarian politics in the United States. In 2014 the network had over 20 million page views!

On this site you'll find posts & links to some of the best and most comprehensive center-right news and opinion on the net...

Archives

Copyright © 2014 The Minority Report Network