Woe is the American people, but not according to the Census Bureau.
Republicans painted a dark and gloomy picture of the U.S. under President Obama and vowed to block any awful policy he supported just hours after the man was sworn into office. According to Speaker Paul Ryan (R-Wisconsin) just a few days ago in an op-ed published by the Washington Examiner, the economy is collapsing, people are far worse off today than they were under the rapidly failing economy of President George W. Bush, and the sky is surely falling.
‘His [President Obama’s] ultimate legacy will be showing the country that progressivism in practice just doesn’t work.’
The U.S. Census Bureau released its 2015 Income, Poverty, and Health Insurance report today and that doesn’t exactly seem to be true. In fact, Jason Furman, chairman of the White House Council of Economic advisers, tweeted this about the report:
I usually try to be restrained, but this is unambiguously the best Income, Poverty & Health Insurance report ever. https://t.co/YdN4HgtIvR
— Jason Furman (@CEAChair) September 13, 2016
A summary of the report states that:
‘In 2015, household income grew at the fastest rate on record, the poverty rate fell faster than at any point since 1968, and the uninsured rate continued to fall.’
In fact, the income growth was measured by reports dating back a half-century, and came out on top. Further, the income growth was more spread-out than it has been, as wages for the average American household rose 5.2 percent, with those on the bottom of the income strata seeing a higher percentage in income growth than any other group.
Jonathon Chait of New York magazine wrote of the report:
‘It is almost impossible to overstate how thoroughly this data nullifies the central charges made against the administration’s policies.’
Chait notes that the report actually nullifies both the left- and right-wing criticisms of President Obama’s economic policies. Incomes have risen, not fallen, and not just for the top 1 percent.
Paul Ryan and his crew can claim that Obama has been the worst president in history because of his progressive policies, but the numbers just don’t seem to support that.
For President Obama’s presentation of the report, see video below:
Featured image screengrab via YouTube