SOURCES:
- https://www.theguardian.com/us-news/2023/sep/15/biden-economy-bidenomics-poll-republicans-democrats-independents
- https://abcnews.go.com/US/us-poverty-rate-jumped-2022-child-poverty-doubled/story?id=103130527
- https://www.cnbc.com/2023/08/31/63percent-of-workers-are-unable-to-pay-a-500-emergency-expense-survey.html
Enjoy your strong economy, everybody!
“strong economy” = corporations posted record profits
The missing part of the discussion is always “better for who?”
The benefits of economic activity don’t automatically go to most people. They’re not even the likely ones to benefit from it.
But it’s pretty easy for media and gov propaganda to frame it in generic terms like “the economy is good, look at these hand picked stats that say so!”
“strong economy” = workers getting paid an even smaller share of the value they create
YUP! Too bad once Reagan got in office GDP began to completely separate from wages:
Source: https://aneconomicsense.org/2015/02/13/why-wages-have-stagnated-while-gdp-has-grown-the-proximate-factors/
Ah, good. You can see exactly when Reagan fucked everything for everyone but the top earners.