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Obama Promise to Raise Middle Class Living Already Seen in Peril

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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.

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  • wheels

    This POS person has promised many good things to many ignorant people. They fall for his eloquent use of the spoken word and have a most difficult time separating fact from B/S. Tell those that have zero work ethic, “We will take care of all your needs from food, medical, transportation, housing, etc.” and you have a voter in your pocket for life. Even when non or little of the promise comes to fruition. Keep the promises coming, dribble out a “carrot” here and there and THEY will stay in line.

    And now a promise to the “middle class” that the POS has no more intention of keeping than when he promised the gullible ones if he did not get things going to save the economy during his first term he would not seek a second term.

    My overall point is this. Pay no attention to nobama’s words as they resonate with the hollowness of the lies they are. Look hard at his actions and what those actions have produced for the American population as a whole. That will tell you all you need to know about what nobama is doing to our country and where he is trying to FORCE it to go. He is doing just what his boss George Soros wants him to do.