President Barack Obama proudly announced that the U.S. economy is emerging from the "shadow of crisis" during his first State of the Union Address to a GOP-controlled Congress on Tuesday.
But was there an intentional reason for him to avoid going into the specifics of the "improved numbers?" Apparently so, because then he would have to explain why real middle class paychecks have hit a 50 year low during the span of his presidency, according to Breitbart News.
In Tuesday's speech, Obama announced a plan to raise $320 billion through new taxes and fees on the wealthy and big banks that could be used to pay for free community college tuition, universal child care and additional tax credits for working-class families.
"America, for all that we've endured; for all the grit and hard work required to come back; for all the tasks that lie ahead, know this: The shadow of crisis has passed," Obama said in his sixth State of the Union address to the nation. "Will we accept an economy where only a few of us do spectacularly well? Or will we commit ourselves to an economy that generates rising incomes and chances for everyone who makes the effort?"
A common theme of Obama's speech revolved around re-invigorating the middle class through an admittedly expensive but hopeful agenda."The verdict is clear, middle class economics works," he said.
"Over the last 50 years, the middle class earnings per hour grew steadily from $2.56 an hour to $20.68 today. But adjusted for inflation, the middle class wage was $19.12 under President Johnson in 1964; peaked at $22.31 under President Nixon; bottomed under $18 under President Clinton; and is currently $20.68 under President Obama," Breitbart reported. "But during that same 50 year period, the average number of hours worked per week dropped from a peak of 38.8 under President Johnson to a 50 year low of 33.9 hours per week under President Obama.
"Adjusted for inflation and the 12.6 percent fewer hours worked per week, the real middle class hourly wage has fallen by 10 percent under President Obama to $17.25 an hour."
In all, this means that the average middle class American is making $36,454.60 a year. After slashing taxes, the average middle class worker has to live on only $2,734.09 a month.
In today's time, most families "have two car payments that equal about $700, plus food, clothing, and utilities costs of about $1,200. Given that the average mortgage payment is $1,400, the $834.09 left for the middle class wage earner is not enough to live what is still thought of as a middle class lifestyle," according to Breitbart.
During his first SOTU address to a joint session of Congress in 2009, Obama had reportedly mentioned the middle class only once.
However, after six years of raising taxes, socializing health care and adding about $8 trillion to the U.S. national debt, not only did the president mention the middle class seven times on Tuesday night, but his policies have also led to the worst middle class wages in 50 years.
