After Years of Stagnation Under Obama, Household Income Hits 50-Year High
Former President Barack Obama got plenty of praise for shepherding us through the recovery from the 2008 economic crisis. However, those on Main Street, USA, knew the truth — things weren’t any better than they had been when George W. Bush left office.
As The Weekly Standard reported in 2016, median household income when Obama came into office in 2009 was $56,731. In 2015, six years into his presidency, that number was $56,516 — a decrease of just over $200.
By the time he left office, it’s true that media household income had risen to $59,471 — but that was essentially the same as it had been in December, 2007, at the end of the “Great Recession” and just a few weeks before Obama took office, when it was $59,549.
So, how’s The Donald doing?
Well, as Investor’s Business Daily reported, a new study from Sentier Research found that the median household income in April was $61,483 — a 50-year high.
That’s up from $59,471 in January of 2017.
The firm tracks income using census data and adjusts for inflation — so even a slightly weaker dollar doesn’t account for the increase.
That’s great news for the country, but maybe not the best news for Democrats.
“This is just another indication that the economy has notably strengthened under Trump. And polls show that the public’s mood has brightened considerably as a result,” Investor’s Business Daily reported.
“The latest IBD/TIPP Economic Optimism Index is 53.6. This index has been in positive territory (anything over 50 is optimistic) since Trump took office. The Quality of Life Index, meanwhile, hit a 14-year high in May and the Financial Stress Index is at an all-time low.”
That economic data is followed by a lot of polls that seem to show that the “blue wave” expected in the November midterms breaking and rolling back into the sea.
A new Reuters poll found that a generic Republican would beat a generic Democrat by six points. Back in March, the Democrats were up by nine points. A CBS poll found that Democrats had a two-point advantage on the generic ballot — hardly “wave” material.
The CBS poll also found that 68 percent of Americans believed Trump’s policies deserved at least some of the credit for the economic situation, with 35 percent saying he deserved a “great deal” of the credit.
Sixty-four percent of respondents rated the economy as “somewhat good” or “very good.” In a CNN poll, 57 percent of voters said that “things are going well in the U.S.” In February, that was 49 percent.
Perhaps the most important figure: Under Obama, when Gallup asked whether it was a good time to find “a quality job in the U.S.,” the highest number that administration ever achieved was 45 percent. Under Trump, that number is 67 percent — the highest number in the 17-year history of the poll.
While Trump’s personal numbers haven’t seen the same bounce, they’re still up — and that’s the important thing. Thanks to the relentless campaign of personal attacks against him, Trump’s stated approval rating has always been a lot lower than it probably is.
Don’t believe me? Just ask Hillary Clinton. For all of the personal barbs and attacks, 2016 ultimately came down to the economy. So will 2018 — and that’s not good news for the Democrats.
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