Obama's Greatest Accomplishment
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Middle class incomes had their fastest growth on record last year
https://www.washingtonpost.com/news/wonk/wp/2016/09/13/the-middle-class-and-the-poor-just-had-the-best-year-since-the-end-of-the-great-recession/
Middle-class Americans and the poor enjoyed their best year of economic improvement in decades in 2015, the Census Bureau reported Tuesday, a spike that broke a years-long streak of disappointment for American workers but did not fully repair the damage inflicted by the Great Recession.
Real median household income was $56,500 in 2015, the bureau reported, up from $53,700 in 2014. That 5.2 percent increase was the largest, in percentage terms, recorded by the bureau since it began tracking median income statistics in the 1960s.
In addition, the poverty rate fell by 1.2 percentage points, the steepest decline since 1968. There were 43.1 million Americans in poverty on the year, 3.5 million fewer than in 2014. The share of Americans who lack health insurance continued a years-long decline, falling 1.3 percentage points, to 9.1 percent.
A combination of forces fueled the gains, including an improving job market, low inflation and rising wages, particularly for low-earning workers who may have benefited from state and local initiatives to boost minimum wages.
[Things are getting a lot better for the working poor]
And while incomes increased for men and for women - with the income gap between the two genders narrowing slightly - and across racial and ethnic groups, they did not reach all workers evenly. Median incomes did not budge significantly in rural areas, while in cities, they grew by 7.3 percent. The South saw significantly weaker income growth than the West.
On health care, states that expanded Medicaid under the Affordable Care Act continued to see a decline in their uninsured rate, widening a coverage gap with those states that did not expand the program.
The numbers from the government's annual report on income, poverty and health insurance, complicate the economic narrative underpinning the 2016 presidential election. They were hailed by the Obama administration and by Hillary Clinton, the Democratic nominee, but greeted with silence by Republican nominee Donald Trump, who frequently cites median income stagnation as a sign of American decline.
"This exceeds the strong expectation that I already had,” Jason Furman ....
President Obama's accomplishments are vastly superior to those of Bush and the Republicans.
https://www.washingtonpost.com/news/wonk/wp/2016/09/13/the-middle-class-and-the-poor-just-had-the-best-year-since-the-end-of-the-great-recession/
Middle-class Americans and the poor enjoyed their best year of economic improvement in decades in 2015, the Census Bureau reported Tuesday, a spike that broke a years-long streak of disappointment for American workers but did not fully repair the damage inflicted by the Great Recession.
Real median household income was $56,500 in 2015, the bureau reported, up from $53,700 in 2014. That 5.2 percent increase was the largest, in percentage terms, recorded by the bureau since it began tracking median income statistics in the 1960s.
In addition, the poverty rate fell by 1.2 percentage points, the steepest decline since 1968. There were 43.1 million Americans in poverty on the year, 3.5 million fewer than in 2014. The share of Americans who lack health insurance continued a years-long decline, falling 1.3 percentage points, to 9.1 percent.
A combination of forces fueled the gains, including an improving job market, low inflation and rising wages, particularly for low-earning workers who may have benefited from state and local initiatives to boost minimum wages.
[Things are getting a lot better for the working poor]
And while incomes increased for men and for women - with the income gap between the two genders narrowing slightly - and across racial and ethnic groups, they did not reach all workers evenly. Median incomes did not budge significantly in rural areas, while in cities, they grew by 7.3 percent. The South saw significantly weaker income growth than the West.
On health care, states that expanded Medicaid under the Affordable Care Act continued to see a decline in their uninsured rate, widening a coverage gap with those states that did not expand the program.
The numbers from the government's annual report on income, poverty and health insurance, complicate the economic narrative underpinning the 2016 presidential election. They were hailed by the Obama administration and by Hillary Clinton, the Democratic nominee, but greeted with silence by Republican nominee Donald Trump, who frequently cites median income stagnation as a sign of American decline.
"This exceeds the strong expectation that I already had,” Jason Furman ....
President Obama's accomplishments are vastly superior to those of Bush and the Republicans.
How blacks and hispanics have fared under Osama Obama(as Ted Kennedy called him):
How Minorities Have Fared in Obama Economy
You're full of hate...only crediting Osama Obama as a president.
How Minorities Have Fared in Obama Economy
You're full of hate...only crediting Osama Obama as a president.
Middle class incomes had their fastest growth on record last year
https://www.washingtonpost.com/news/wonk/wp/2016/09/13/the-middle-class-and-the-poor-just-had-the-best-year-since-the-end-of-the-great-recession/
Middle-class Americans and the poor enjoyed their best year of economic improvement in decades in 2015, the Census Bureau reported Tuesday, a spike that broke a years-long streak of disappointment for American workers but did not fully repair the damage inflicted by the Great Recession.
Real median household income was $56,500 in 2015, the bureau reported, up from $53,700 in 2014. That 5.2 percent increase was the largest, in percentage terms, recorded by the bureau since it began tracking median income statistics in the 1960s.
In addition, the poverty rate fell by 1.2 percentage points, the steepest decline since 1968. There were 43.1 million Americans in poverty on the year, 3.5 million fewer than in 2014. The share of Americans who lack health insurance continued a years-long decline, falling 1.3 percentage points, to 9.1 percent.
A combination of forces fueled the gains, including an improving job market, low inflation and rising wages, particularly for low-earning workers who may have benefited from state and local initiatives to boost minimum wages.
[Things are getting a lot better for the working poor]
And while incomes increased for men and for women - with the income gap between the two genders narrowing slightly - and across racial and ethnic groups, they did not reach all workers evenly. Median incomes did not budge significantly in rural areas, while in cities, they grew by 7.3 percent. The South saw significantly weaker income growth than the West.
On health care, states that expanded Medicaid under the Affordable Care Act continued to see a decline in their uninsured rate, widening a coverage gap with those states that did not expand the program.
The numbers from the government's annual report on income, poverty and health insurance, complicate the economic narrative underpinning the 2016 presidential election. They were hailed by the Obama administration and by Hillary Clinton, the Democratic nominee, but greeted with silence by Republican nominee Donald Trump, who frequently cites median income stagnation as a sign of American decline.
"This exceeds the strong expectation that I already had,” Jason Furman ....
President Obama's accomplishments are vastly superior to those of Bush and the Republicans.
https://www.washingtonpost.com/news/wonk/wp/2016/09/13/the-middle-class-and-the-poor-just-had-the-best-year-since-the-end-of-the-great-recession/
Middle-class Americans and the poor enjoyed their best year of economic improvement in decades in 2015, the Census Bureau reported Tuesday, a spike that broke a years-long streak of disappointment for American workers but did not fully repair the damage inflicted by the Great Recession.
Real median household income was $56,500 in 2015, the bureau reported, up from $53,700 in 2014. That 5.2 percent increase was the largest, in percentage terms, recorded by the bureau since it began tracking median income statistics in the 1960s.
In addition, the poverty rate fell by 1.2 percentage points, the steepest decline since 1968. There were 43.1 million Americans in poverty on the year, 3.5 million fewer than in 2014. The share of Americans who lack health insurance continued a years-long decline, falling 1.3 percentage points, to 9.1 percent.
A combination of forces fueled the gains, including an improving job market, low inflation and rising wages, particularly for low-earning workers who may have benefited from state and local initiatives to boost minimum wages.
[Things are getting a lot better for the working poor]
And while incomes increased for men and for women - with the income gap between the two genders narrowing slightly - and across racial and ethnic groups, they did not reach all workers evenly. Median incomes did not budge significantly in rural areas, while in cities, they grew by 7.3 percent. The South saw significantly weaker income growth than the West.
On health care, states that expanded Medicaid under the Affordable Care Act continued to see a decline in their uninsured rate, widening a coverage gap with those states that did not expand the program.
The numbers from the government's annual report on income, poverty and health insurance, complicate the economic narrative underpinning the 2016 presidential election. They were hailed by the Obama administration and by Hillary Clinton, the Democratic nominee, but greeted with silence by Republican nominee Donald Trump, who frequently cites median income stagnation as a sign of American decline.
"This exceeds the strong expectation that I already had,” Jason Furman ....
President Obama's accomplishments are vastly superior to those of Bush and the Republicans.