Dem Gov. O’Malley Debates Dem Gov. O’Malley on the Economy
September 3, 2012 - 7:38 am
Maryland’s Gov. Martin O’Malley, Sunday: We’re not better off now than we were four years ago.
Maryland’s Gov. Martin O’Malley Monday: Of course we’re better off now than we were four years ago!
O’Malley got it right the first time.
Even if you start from when the recession ended in June, 2009, the decline since then has been greater than it was during the recession. Three years into the Obama recovery, median family income had declined nearly 5% by June, 2012 as compared to June, 2009. That is nearly twice the decline of 2.6% that occurred during the recession from December, 2007 until June, 2009. As the Wall Street Journal summarized in its August 25-26 weekend edition, “For household income, in other words, the Obama recovery has been worse than the Bush recession.”