George W. Bush and Barack Obama Equally to Blame for “Sad State of the American Family’s Finances Today”

Stephen Moore — distinguished American auther, economic writer and policy analyst — writes:

Last week, while touting the new Census report on income and poverty in America, Barack Obama took credit for $2 a gallon gasoline, and immodestly shouted to his crowd of supporters: “Thank you, Obama.”

I don’t want to sound ungrateful, but given that for eight years your administration has done everything to decapitate the oil and gas industry that gave us low gas prices, sorry: No thanks are in order, Mr. President.

Even more amazing was Obama’s victory lap on the income numbers. Yes, incomes for middle-class families rose by an impressive 5 percent in 2015. And poverty fell. Thank goodness. It’s about time.

But the Census report was anything but cause for celebration. It is a stinging indictment of the policy results of both the George W. Bush and the Obama legacies. They both miserably failed and are equally culpable for the sad state of the American family’s finances today.

The reality is, “Americans are poorer today than they were in 2000. In other words, for 15 years, average families have made no progress at all in terms of their personal financial situations. That’s a decade and a half of no growth.”