It’s utterly annoying to listen to Democrats like Juan Williams and Ken Martin insist that the middle class is getting shafted while ‘the rich’ keep getting richer. There’s a simple antidote for that situation. It’s a rarely-found commodity, at least in Washington, DC. It’s called “the truth.” In this instance, the truth is found in Steve Moore’s article.
In that article, Moore wrote “The latest Census Bureau Current Population Survey data now show that middle-class incomes, after adjusting for inflation, have surged by $5,003 since Donald Trump became president in January 2017. Median household income has now reached $65,976 – an all-time high and up more than 8 percent in 2019 dollars under the Trump presidency.”
Next, Moore wrote “These numbers contrast sharply with the 16 years prior to Trump’s presidency. In the eight years that George W. Bush was president, median income barely showed any gain, up just $401 thanks to the deep recession of 2008. In the seven and a half years that Barack Obama was president, and not including the end of the recession, which Obama inherited, incomes inched up by $1,043 (June 2009 – January 2019). This means that in the 16 years before the Trump presidency, incomes rose by about $1,500 while in less than three years middle incomes have risen three times faster.” This chart shows the same statistics:
This is interesting:
The contrast is even sharper when measured on a monthly basis. The monthly rise in incomes under Bush was $4. That number was $11 under Obama and $161 under Trump.
That’s quite a difference. Then there’s this:
These surges in income, especially in the last several months, have occurred at exactly the time when many liberal economists and media talking heads were shouting “recession.” In reality middle-class families were enjoying a near-unprecedented income windfall and “the gains in income levels in recent months,” Sentier reports, “have been accelerating.”
While it would be fantastic if Nancy Pelosi stopped being a hyper-partisan foot-dragger on USMCA, I realize there’s a better chance of me hitting a lottery jackpot than Pelosi losing her partisan streak. The truth is that the economy is solid, though not fantastic. The truth is that the Democrats’ economic policies are wrote, partially because Democrats hate job creators.