Get the Ricochet app
Ricochet will work fine in a browser on your mobile devices, but for the best experience please download our app.
I keep seeing the media present the case that Trump only helped the 1% and did nothing to help regular Americans. That assertion is demonstrably untrue.
Let’s look at real (inflation adjusted) median wages. (Expressed in 1984 dollars.)
Real median weekly wages of full time employees. (Expressed in 1984 dollars.)
BLS Data series LES1252881600Q
Obama 1st inauguration: 340
Trump inaugurated: 349
Change Obama 8 years: +9
Trump inaugurated: 349
Q1 2020 pre pandemic: 367
Change: +18
Trump inaugurated: 349
Biden inauguration: 377
Change under Trump +28
Biden inauguration: 377
Today: 365
Change under Biden: -12
Lots of people go to GDP to judge the health of an economy. And there’s lots to be said for GDP. But it’s a total. And like any aggregate, it can obscure as much as it reveals. That’s what I usually like to look at Real Median Wages and Real Median Household Income. Unfortunately, the Household Income number comes out annually, in September. So 2022 is the most recent we have…
Real Median Household Income
Obama 1st inauguration: 66280
Trump inaugurated: 70840
Change 8 Obama years: +4560 (6.9%)
Trump inaugurated: 70840 EoY 2019 pre pandemic: 78250
Change 3 Trump years: +7410 (10.5%)
Trump inaugurated: 70840 Biden inaugurated: 76660
Change Trump: +5820 (8.2%)
Biden inaugurated: 76660 2022 (most recent avail): 74580
Change Biden so far: -2080 (-2.7%)
So the reality is that for regular Americans, the Trump economy (especially pre-pandemic) was a resounding success.
Discussion (38)
To read this bio, please join Ricochet.
This is a good metric.
To read this bio, please join Ricochet.
And Democrats had no answer for Trump's roaring economy, so they weaponized the flu and shut it down. I think it all can be traced back to this moment:
She wasn't just tearing up an official document; she was tearing up the social contract. It was a signal: "Release the
houndsvirus!"CHARTER MEMBER
To read this bio, please join Ricochet.
I am no economist, but I have always read that real wages inclusive of inflation were up at least 8% during Trump's Presidency. Good post. It's always important to read truthful figures, which I believe are called FACTS.
To read this bio, please join Ricochet.
My retirement accounts had one good year under Obama, versus 3 good years under Trump.
Under Biden? Three bad years. We'll see how the last one turns out...
MODERATOR • CHARTER MEMBER
To read this bio, please join Ricochet.
That's what they've said about every Republican administration for generations and what they will say about every future Republican administration. The old "The Rich get richer and the poor get poorer" trope.
You're seeing five of 38 comments. Sign in, or join for just $5 per month, to read them all and add your own.