This is going to pose a significant challenge for Team Obama heading into a possible second term.  They’ve been programmed and conditioned to blame everything that ails our country on the previous administration, but doing so in a second term would actually mean taking credit for their failures.

And the cracks have already started showing, with Joe Biden saying this yesterday:

It didn’t take long for Mitt Romney to agree that yes, the Middle Class has been buried under Obama:
And here is your proof that, yes, Joe Biden was actually right about something…
Vice President Biden Said The “Middle Class … Has Been Buried In The Last Four Years.” BIDEN: “This is deadly earnest. How they can justify, how they can justify, raising taxes on the middle class that has been buried in the last four years.”(Vice President Joe Biden, Remarks, Charlotte, NC, 10/2/12)
·         Buried Under More And More Debt: Since President Obama took office, the national debt has surpassed $16 trillion – an increase of $5.4 trillion. (U.S. Treasury Department, Accessed 10/2/12)
·         Buried Under Falling Incomes: “Median household incomes have fallen 8.2 percent since President Obama took office and continue to drop despite the official end of the  recession, a new study shows. Data compiled by Sentier Research found that since the economic recovery technically began in June 2009, median household income has dropped 5.7 percent.”(“Household Income Down 8.2 Percent Since Obama Took Office, Study Shows,” Fox News, 9/26/12)
·         Buried Under High Unemployment: More than 23 million Americans are unemployed, underemployed, or have stopped looking for work. (Bureau Of Labor Statistics, www.bls.gov, 10/2/12)
·         Buried Under Rising Gas Prices: Under President Obama, gas prices have more than doubled from $1.85 per gallon to $3.80 per gallon. (U.S. Energy Information Agency, 10/2/12)
What Would Four More Years Of President Obama Mean For The Middle Class? More Debt And Higher Taxes:
AEI Has Calculated That The Annual Cost Of President Obama’s Current And Looming Debt Burden Amounts To $4,000 Per Year In Higher Taxes On The Middle Class. “In a new paper, AEI’s Matt Jensen looks at the real annual cost of servicing the debt for households at various levels of income — including a potentially higher tax burden. As the table below illustrates, a household making between $100,000 and $200,000 a year could find its tax liability higher by roughly $2,400 every year. Over ten years, that works out to $24,000. And when you add in the debt already accrued the past four years under President Obama (the second table), that’s another $1,600 a year. So now we are now talking about $4,000 a year, $40,000 over ten years.” (James Pethokoukis, “Study: Obama’s Big Budget Deficits Could Mean A $4,000 A Year Middle-Class Tax Hike,” American Enterprise Institute, 10/2/12)