Feb 17, 2011

Article - Is Wealth Gap Widening Under Obamananke? (yes!)

Article is sorta fluffy, but it conveniently sums up many of the arguments against the policies we are currently engaged in...
Consumer sentiment among families with income above $75,000 jumped to 88.2 in early February, the highest since under President Bush in 2007, according to the Reuters/University of Michigan's latest survey. 
But sentiment among lower-income households dropped to 67.7 from 72.1 in January, trapped in a range it's been stuck in since just after Obama's 2009 inauguration. 
The president helped widen this gap by compromising on the Bush tax cuts with the Republicans in Congress, agreeing at the end of last year to extend them on all incomes for two years, investors said. 
Meanwhile, Fed Chairman Ben Bernanke has set upon a large quantitative easing program that has boosted the stock market by increasing liquidity, but also raised the costs of basic goods that hit the poor the very hardest.

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