Don’t be fooled: Working Americans are worse off under Trump

[Thinker101]

Obama's economy was artificially supported by QE and zero % rates almost the whole way through. That is not his fault by the way. But, come on. Things are cruising along pretty nicely right now. When Obama is even taking credit for it, you know it is better.

Any fool can stimulate the economy with major tax cuts - but Trump overheated the economy at a time when it wasn't needed. The Obama economy was cruising along at a reasonable and steady upward pace since the Great Bush Recession. I hope I'm wrong, but I think there will be a big price to pay - including our current budget deficit and national debt.

Well, that fool you had in there for eight years couldn't figure it out.

 

[ThunderKiss1965]

Robert J. Shapiro is the chairman of the advisory firm Sonecon and a senior fellow at Georgetown University’s McDonough School of Business. He was President Bill Clinton’s undersecretary of commerce for economic affairs.

Despite robust economic numbers during the Trump presidency, the American public has seemed curiously unmoved by such good news as thelowest U.S. unemployment level in nearly half a century. Its enthusiasm might have been dampened by this underappreciated economic reality: The typical working American's earnings, when properly measured, have declined during the Trump administration.

As any White House would, the president's economic team touts positive earnings data from the Bureau of Labor Statistics that suggest rising wages and salaries. But the figures are misleading. They focus not on how much an average working person earns but on the "average earnings" of all employed people. In times of rising inequality, employees at the top pull up "average" earnings. Shift to the bureau's earnings data for an average or "median" working person, and most of those claimed gains disappear. Another catch: The data used by the White House doesn't account for inflation. Adjust the median earnings data for inflation, and the illusion of progress evaporates.

Let's examine how much these technical sleights of hand distort what's happening to people's earnings. Using the White House's preferred data,average earnings rose from $894.06 in January 2017 to $937.02 in August 2018. That suggests impressive gains of $42.96 weekly over the 20-month period and $30.02 weekly over the past year. But what about median earnings rather than average earnings — that is, earnings of those in the middle of the distribution?
The Bureau of Labor Statistics has a different database for that view, and its quarter-by-quarter numbers show a very different picture. Median weekly earnings of all workers rose from $865 in the first quarter of 2017 to $876 in the quarter ending June 30, 2018. The typical working American's earnings increased $11 weekly over 18 months, barely more than one-quarter of the economic progress touted by the White House.

Even that modest gain is not very meaningful. The significance of what people earn lies in what they can do with their earnings, and inflation eats away at what any of us can purchase or save. As a result, serious earnings analysis is always framed in inflation-adjusted, or "real," terms. From January 2017 to June 2018, inflation totaled 3.77 percent, while the $11 increase in unadjusted weekly earnings over those 18 months represented gains of 1.27 percent.

To determine how much the real earnings of a typical working American fell during that period, simply adjust the $876 in median weekly earnings in the quarter ending June 30, 2018, for the 3.32 percent inflation that occurred in the 18 months from the first quarter of 2017 to that date. The result: $876 in June 2018 had the same value as $848.20 in January 2017. In real terms, the weekly earnings of a typical working American fell $16.80, or 1.9 percent, during Donald Trump's first 18 months as president.

More: Don’t be fooled: Working Americans are worse off under Trump

Yes, working Americans are worse off under Trump. Median weekly earnings increased more under President Obama. Trump's economic bragging is mostly smoke and mirrors. Oh, and what about the deficit and national debt? Trump just made the rich richer. No wonder Republicans aren't touting the big tax cuts for the upcoming elections.

Only the low information Democratic party base is going to believe this steaming pile of bullshit, but they will vote jackass no matter what.

 

[miketx]

Robert J. Shapiro is the chairman of the advisory firm Sonecon and a senior fellow at Georgetown University’s McDonough School of Business. He was President Bill Clinton’s undersecretary of commerce for economic affairs.

Despite robust economic numbers during the Trump presidency, the American public has seemed curiously unmoved by such good news as thelowest U.S. unemployment level in nearly half a century. Its enthusiasm might have been dampened by this underappreciated economic reality: The typical working American's earnings, when properly measured, have declined during the Trump administration.

As any White House would, the president's economic team touts positive earnings data from the Bureau of Labor Statistics that suggest rising wages and salaries. But the figures are misleading. They focus not on how much an average working person earns but on the "average earnings" of all employed people. In times of rising inequality, employees at the top pull up "average" earnings. Shift to the bureau's earnings data for an average or "median" working person, and most of those claimed gains disappear. Another catch: The data used by the White House doesn't account for inflation. Adjust the median earnings data for inflation, and the illusion of progress evaporates.

Let's examine how much these technical sleights of hand distort what's happening to people's earnings. Using the White House's preferred data,average earnings rose from $894.06 in January 2017 to $937.02 in August 2018. That suggests impressive gains of $42.96 weekly over the 20-month period and $30.02 weekly over the past year. But what about median earnings rather than average earnings — that is, earnings of those in the middle of the distribution?

The Bureau of Labor Statistics has a different database for that view, and its quarter-by-quarter numbers show a very different picture. Median weekly earnings of all workers rose from $865 in the first quarter of 2017 to $876 in the quarter ending June 30, 2018. The typical working American's earnings increased $11 weekly over 18 months, barely more than one-quarter of the economic progress touted by the White House.

Even that modest gain is not very meaningful. The significance of what people earn lies in what they can do with their earnings, and inflation eats away at what any of us can purchase or save. As a result, serious earnings analysis is always framed in inflation-adjusted, or "real," terms. From January 2017 to June 2018, inflation totaled 3.77 percent, while the $11 increase in unadjusted weekly earnings over those 18 months represented gains of 1.27 percent.

To determine how much the real earnings of a typical working American fell during that period, simply adjust the $876 in median weekly earnings in the quarter ending June 30, 2018, for the 3.32 percent inflation that occurred in the 18 months from the first quarter of 2017 to that date. The result: $876 in June 2018 had the same value as $848.20 in January 2017. In real terms, the weekly earnings of a typical working American fell $16.80, or 1.9 percent, during Donald Trump's first 18 months as president.

More: Don’t be fooled: Working Americans are worse off under Trump

Yes, working Americans are worse off under Trump. Median weekly earnings increased more under President Obama. Trump's economic bragging is mostly smoke and mirrors. Oh, and what about the deficit and national debt? Trump just made the rich richer. No wonder Republicans aren't touting the big tax cuts for the upcoming elections.

No one believes a thing you post.

 

[WillMunny]

Don't be fooled: Lahkota is the most pathological LIAR in the history of USMB. Literally every statement this asshole makes is an easily provable, demonstrable LIE. I have never seen this board's resident psychopath make a remotely accurate statement with even a faint quantum of truth in it.

 

[HereWeGoAgain]

Sorry you are worse off. Wonder why? I'm NOT.

Good for you. It's not about me - I'm comfortably retired. It's about working Americans.

Exactly

Yes, exactly.

Glad you figured out how wrong you are. Remember not to believe every slanted word you read, no matter how much you desire it to fit your agenda.

I have no idea what you're talking about, so I'll end communication with you. Go bait someone else. Bye...

Why doesnt it surprise me that you cant comprehend a simple sentence.....

 

[HereWeGoAgain]

Ya gotta love liberals.
They believe that telling the people they are worse off under Trump when they obviously know it to be a lie is a winning strategy.

 

[BluesLegend]

Don’t be fooled: Working Americans are worse off under Trump

Don't worry, nobody is fooled by your fake news.

 

[edward37]

Robert J. Shapiro is the chairman of the advisory firm Sonecon and a senior fellow at Georgetown University’s McDonough School of Business. He was President Bill Clinton’s undersecretary of commerce for economic affairs.

Despite robust economic numbers during the Trump presidency, the American public has seemed curiously unmoved by such good news as thelowest U.S. unemployment level in nearly half a century. Its enthusiasm might have been dampened by this underappreciated economic reality: The typical working American's earnings, when properly measured, have declined during the Trump administration.

As any White House would, the president's economic team touts positive earnings data from the Bureau of Labor Statistics that suggest rising wages and salaries. But the figures are misleading. They focus not on how much an average working person earns but on the "average earnings" of all employed people. In times of rising inequality, employees at the top pull up "average" earnings. Shift to the bureau's earnings data for an average or "median" working person, and most of those claimed gains disappear. Another catch: The data used by the White House doesn't account for inflation. Adjust the median earnings data for inflation, and the illusion of progress evaporates.

Let's examine how much these technical sleights of hand distort what's happening to people's earnings. Using the White House's preferred data,average earnings rose from $894.06 in January 2017 to $937.02 in August 2018. That suggests impressive gains of $42.96 weekly over the 20-month period and $30.02 weekly over the past year. But what about median earnings rather than average earnings — that is, earnings of those in the middle of the distribution?

The Bureau of Labor Statistics has a different database for that view, and its quarter-by-quarter numbers show a very different picture. Median weekly earnings of all workers rose from $865 in the first quarter of 2017 to $876 in the quarter ending June 30, 2018. The typical working American's earnings increased $11 weekly over 18 months, barely more than one-quarter of the economic progress touted by the White House.

Even that modest gain is not very meaningful. The significance of what people earn lies in what they can do with their earnings, and inflation eats away at what any of us can purchase or save. As a result, serious earnings analysis is always framed in inflation-adjusted, or "real," terms. From January 2017 to June 2018, inflation totaled 3.77 percent, while the $11 increase in unadjusted weekly earnings over those 18 months represented gains of 1.27 percent.

To determine how much the real earnings of a typical working American fell during that period, simply adjust the $876 in median weekly earnings in the quarter ending June 30, 2018, for the 3.32 percent inflation that occurred in the 18 months from the first quarter of 2017 to that date. The result: $876 in June 2018 had the same value as $848.20 in January 2017. In real terms, the weekly earnings of a typical working American fell $16.80, or 1.9 percent, during Donald Trump's first 18 months as president.

More: Don’t be fooled: Working Americans are worse off under Trump

Yes, working Americans are worse off under Trump. Median weekly earnings increased more under President Obama. Trump's economic bragging is mostly smoke and mirrors. Oh, and what about the deficit and national debt? Trump just made the rich richer. No wonder Republicans aren't touting the big tax cuts for the upcoming elections.

No one believes a thing you post.

I do but you believing the worst lying scum ever to enter WH speaks volumes about you

 

[BluesLegend]

Ya gotta love liberals.
They believe that telling the people they are worse off under Trump when they obviously know it to be a lie is a winning strategy.

Trump has done such a great job the first 2 years liberals have nothing to attack him on, hence they lie.

 

[miketx]

Robert J. Shapiro is the chairman of the advisory firm Sonecon and a senior fellow at Georgetown University’s McDonough School of Business. He was President Bill Clinton’s undersecretary of commerce for economic affairs.

Despite robust economic numbers during the Trump presidency, the American public has seemed curiously unmoved by such good news as thelowest U.S. unemployment level in nearly half a century. Its enthusiasm might have been dampened by this underappreciated economic reality: The typical working American's earnings, when properly measured, have declined during the Trump administration.

As any White House would, the president's economic team touts positive earnings data from the Bureau of Labor Statistics that suggest rising wages and salaries. But the figures are misleading. They focus not on how much an average working person earns but on the "average earnings" of all employed people. In times of rising inequality, employees at the top pull up "average" earnings. Shift to the bureau's earnings data for an average or "median" working person, and most of those claimed gains disappear. Another catch: The data used by the White House doesn't account for inflation. Adjust the median earnings data for inflation, and the illusion of progress evaporates.

Let's examine how much these technical sleights of hand distort what's happening to people's earnings. Using the White House's preferred data,average earnings rose from $894.06 in January 2017 to $937.02 in August 2018. That suggests impressive gains of $42.96 weekly over the 20-month period and $30.02 weekly over the past year. But what about median earnings rather than average earnings — that is, earnings of those in the middle of the distribution?

The Bureau of Labor Statistics has a different database for that view, and its quarter-by-quarter numbers show a very different picture. Median weekly earnings of all workers rose from $865 in the first quarter of 2017 to $876 in the quarter ending June 30, 2018. The typical working American's earnings increased $11 weekly over 18 months, barely more than one-quarter of the economic progress touted by the White House.

Even that modest gain is not very meaningful. The significance of what people earn lies in what they can do with their earnings, and inflation eats away at what any of us can purchase or save. As a result, serious earnings analysis is always framed in inflation-adjusted, or "real," terms. From January 2017 to June 2018, inflation totaled 3.77 percent, while the $11 increase in unadjusted weekly earnings over those 18 months represented gains of 1.27 percent.

To determine how much the real earnings of a typical working American fell during that period, simply adjust the $876 in median weekly earnings in the quarter ending June 30, 2018, for the 3.32 percent inflation that occurred in the 18 months from the first quarter of 2017 to that date. The result: $876 in June 2018 had the same value as $848.20 in January 2017. In real terms, the weekly earnings of a typical working American fell $16.80, or 1.9 percent, during Donald Trump's first 18 months as president.

More: Don’t be fooled: Working Americans are worse off under Trump

Yes, working Americans are worse off under Trump. Median weekly earnings increased more under President Obama. Trump's economic bragging is mostly smoke and mirrors. Oh, and what about the deficit and national debt? Trump just made the rich richer. No wonder Republicans aren't touting the big tax cuts for the upcoming elections.

No one believes a thing you post.

I do but you believing the worst lying scum ever to enter WH speaks volumes about you

Sure does troll, it says loudly I believe in fixing what shit stains have done to this country.

 

[WillMunny]

In extreme irony, even race relations are better off under white President Trump; the black community now has a record HIGH employment rate and a record LOW food stamp/dole rate, and minorities now have a record rate of owning their own small businesses. And we don't have anything like the constant, endless, black race riots that we had under the instigator pig Obama for 8 years.

Most minorities are demonstrably doing financially, responsibly better under Trump than under Obamistake by every standard in the book! And this is the president that liberalfilth keep screaming is so WAAAYYYYCIST!!!!! No, he's a white guy treating minorities as mature adults completely responsible for their own actions. And lo and behold, the minorities are doing so much better and better under that attitude. Given this pattern, I would assume that minority crime rates are dropping accordingly.