Household income is stuck in a ditch thanks to the Obama years as Investors Business Daily points out here:
But how’s this for bad news: Since the recession officially ended in July 2009, median household income has dropped by more than 4%, or nearly $2,000.
No wonder more than half of all Americans think we’re still in a recession. They aren’t just imagining things. For most, the paycheck recession really hasn’t subsided.
A major reason earnings are down is that fewer Americans are working. The Labor Department reports that the percentage of able-bodied, working-age Americans with a job is lower now than when Obama was sworn into office in 2009. If you’re not working, your wages and salaries can’t possibly rise.
This is the big political and policy opening for Republicans and the sensible counteroffer to Democrats’ infatuation with lifting the minimum wage. Why not start talking about policies that will raise the middle-class wage? To do that we need more businesses and more business investment so they can pay more to workers.
This isn’t happening now, in part because of higher taxes, ObamaCare anti-employment regulations like the 50-worker rule, and anti-natural gas, oil and coal regulatory policies that are keeping our fastest-growing industry from expanding even faster.