Quote For The Day

Sep 28 2012 @ 11:49am

“If President Barack Obama is trying to spread the wealth, he doesn’t have much to show for it. Republican Mitt Romney has attacked the president for supporting the use of government programs to redistribute income and for a free-spending response to the 2008 financial crisis. Yet since Obama took office in January 2009, wealthy Americans have continued to pull away from the rest of society. In the aftermath of the recession, income inequality in the U.S. reached a new high in 2011, Census Bureau data show. Even as the president has decried the hollowing out of the middle class, the fortunes of labor and capital have diverged on his watch. Quarterly corporate profits of $1.9 trillion have almost doubled since the end of 2008, while workers’ inflation- adjusted average hourly earnings have declined,” – David J Lynch, Bloomberg, via Taegan.