Image: Campaign poster showing William McKinley
holding U.S. flag and standing on gold coin "sound money," held up by group of men, in front of ships — "commerce"— and factories —"civilization"; between 1895 and 1900. Public domain.
Steve Moore, chief economist at Heritage, on the state of the US economy, in cheerful detail.
Trump’s Middle-Class Economic Progress A new study indicates median incomes are rising far faster than they did under Bush or Obama.
President Trump’s critics can’t deny that the economy is doing well, so instead they insist all the benefits have gone to the rich and large corporations. “America’s middle class is under attack,” Sen. Elizabeth Warren asserted in her presidential campaign announcement last December.
The latest data from the Census Bureau monthly surveys tell a different story. Real median household income—the amount earned by those in the very middle—hit $65,084 (in 2019 dollars) for the 12 months ending in July. That’s the highest level ever and a gain of $4,144, or 6.8%, since Mr. Trump took office. By comparison, during 7½ years under President Obama—starting from the end of the recession in June 2009 through January 2017—the median household income rose by only about $1,000.