Under Obama the Rich Get Richer and the Poor Get Poorer

December 3, 2013

We remember the soaring, over-the-top rhetoric that followed Barack Obama’s election as President. He was hailed as a Messiah who would fix all our ills. He claimed that mantle for himself, “…I am absolutely certain that generations from now, we will be able to look back and tell our children that this was the moment when we began to provide care for the sick and good jobs to the jobless; this was the moment when the rise of the oceans began to slow and our planet began to heal; this was the moment when we ended a war and secured our nation and restored our image as the last, best hope on earth. This was the moment — this was the time — when we came together to remake this great nation so that it may always reflect our very best selves and our highest ideals.”

While running for president in 2008, Obama promised his policies would “foster economic growth from the bottom up” and would end what he the “tired, worn-out, trickle-down ideologies we’ve been seeing for so many years.” He would champion the poor and the middle class. Life would improve for the downtrodden. Fairness would reign. “I think when you spread the wealth around, it’s good for everybody,” he stated. Most Christians find that sentiment praiseworthy. After all, Proverbs 29:7 teaches, “The righteous considers the cause of the poor.”

But alas, these words of our President rang hollow. Instead, of helping the poor, his policies have hurt the poor. A Pew Research study back in April found that, under Obama’s policies, “the rich [are] getting richer and the poor [are] getting poorer.” The poverty rate is at a 20-year high at about 15 percent. This is the highest number of poor Americans since the government began tracking poverty 54 years ago. What a vast disconnect between his stated intentions and his quantitative results.

During Obama’s first term, American households saw a 4.89 percent, or $2627 decrease in the real median household income. According to CNS News, The real median household income was $53,644 in 2008 and has dropped every year since. The poor are definitely getting poorer even as the rich get richer.

Steve Inskeep of NPR asked President Obama in October about the widening gap between rich and poor in the U.S. “There was a study I was reading: 2009 to 2012, overwhelming majority of the increase in income in this country went to the wealthiest 1 percent. Why is that happening on your watch?” The answers were pure malarkey, but the question was spot on. Why?

In a speech Obama made in Illinois last July, he gave this assessment: “This growing inequality is morally wrong,” and “undermines the very essence of America.” Yet he and his Democrat allies have caused the growing inequality by their policies. Income inequality has actually grown faster on Obama’s watch than any time in the past two decades.

Research by University of California economist Emmanuel Saez shows that since the Obama recovery started in June 2009, the average income of the top 1% grew 11.2% in real terms through 2011. The bottom 99%, in contrast, saw their incomes shrink by 0.4%. As a result, 121% of the gains in real income during Obama’s recovery have gone to the top 1%. There are 2.7 million more people in poverty than there were in 2009. Obama and his policies must bear the blame for this.

In World Magazine, Marvin Olasky contends that Obama acts more like a communist than a socialist in the way he governs. According to Olasky, “In the past century, inequality has grown wherever Communists have ruled, since those in charge now combine economic with political power and have no check on their lust for more. To paraphrase George Orwell in Animal Farm: All men are equal, but some are more equal than others.” Obama talks a good fight to the poor, but he pursues policies that have the opposite effect. They help his rich Wall Street donors.

One area of the economy that is booming is the stock market which is at record levels. The big players are reaping vast wealth. Ben Bernanke sees to it with Quantitative Easing. Each month, the Federal Reserve pumps 85 billion dollars of phony money into the system, and most of it ends up in the stock market. If you doubt it has an effect, just watch! Each time there is any hint that the Fed might begin to scale back on QE, the market slides.

The Fed is expected to continue its current QE3 stimulus program at full blast until at least March 2014. That means QE3 could total around $1.6 trillion, calculates Paul Ashworth of Capital Economics. That’s on top of the two predecessors. QE1 totaled $1.5 trillion and QE2 added about $600 billion. Quantitative easing has padded the pockets of the rich and fueled stock gains so much that some economists claim prices may no longer be reasonable. In other words, they have created another bubble. So it is by design the rich grow richer while the poor grow poorer.

Susan Stamper Brown writes, “Welcome to the Liberals’ version of the Hunger Games, America; unapologetically brought to you by our Progressive friends in the Democrat Party, whose economic policies have lifted a record number of Americans from the middle class and plopped them face down — into poverty the past five years. This makes no sense, considering they claim they are the party for the folks, insisting they are fighting to expand the middle class.”
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Rev. Daniel Packer is pastor of the Orrington Center Church in Orrington, Maine. He is an active proponent of Biblical morality. His e-mail address is pastordan@roadrunner.com.


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