Washington Post: The middle class is poorer today than it was in 1989

Obama golf cc

It’s not that this information is new. We’ve written about this situation multiple times before and so have other sites. But that the very establishment Washington Post is letting this little ray of truth shine out to its generally liberal readers is what is important here.

Pretty hard to ague that Obama has been anything close to a successful president when these sorts of stats stare one in the face.

(From The Washington Post)

Part of this mystery isn’t one at all: the economy simply isn’t as healthy as the headline numbers suggest. Unemployment has fallen, in part, because so many people have given up looking for work rather than finding it, and there are still millions of part-timers who want full-time jobs.

But then there are deeper factors at work. The economy has gotten bigger, but much of that growth hasn’t reached the middle class. Indeed, the top 1 percent grabbed 95 percent of all the gains during the recovery’s first three years. And that’s not even the most depressing part. Even adjusted for household size, real median incomes haven’t increased at all since 1999. That’s right: the middle class hasn’t gotten a raise in 15 years.

Click here for the article.