Obama’s last year brought economic success
Counting the Cost
Julianne Malveaux | 10/18/2017, 8:34 p.m.
Despite improvements in income data, too many Americans aren’t feeling the improvements. That’s how “45” was able to manipulate people into believing that they were worse off than they had ever been, and that he was going to improve their quality of life. To be sure, while the unemployment rate is way down, there are also people sitting on the sidelines of the labor force.
Raises seem to be coming, but quite slowly, and a 3.2 percent increase in income, after several years of declining income, seems not to be enough. Additionally, there are millions of millennials who came of age during the recession, having spent years marginally employed, and are shouldering the burden of high student loans. Small increases in income don’t make these folks feel flush. Many still feel that they are just getting by.
Knowing “45,” he will crow about these numbers, though he truly cannot take any responsibility for them. This data is 2016 data, and the improvement here can be solely attributed to President Obama. The proof of “45’s” pudding will come next year, when 2017 data are reported. Will we be better off with the repeal of the Affordable Care Act?
Will incomes rise or fall under “45’s” leadership? What will happen with poverty in an administration that has already taken actions to keep wages low? Will the Obama momentum come to a skidding halt because of “45’s” policies? We’ll have to wait and see, but it is clear that 45 has already taken too many steps in the wrong direction.
Julianne Malveaux is an economist, author, and Founder of Economic Education. Her latest book “Are We Better Off: Race, Obama and public policy is available via amazon.com. For booking, wholesale inquiries or for more info visit www.juliannemalveaux.com
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