Monday, February 24, 2020

It's the economy, stupid!

The chart above should hit home for most people reading this (thanks mom). It also should provide you the evidence you need to shut down your drunk uncle when he explains away his support for Mango Mussolini (also known as Donald Trump) based on the economy's recent success.

See, most Trump supporters (I'm being kind, they're all stupid), believe the economy was in freefall under Obama and now, thanks to Trump, we're enjoying the economic growth we only dreamed of since Ronald Reagan left office.

If you have a functioning brain, you know the truth.

And if you didn't know before, you'll understand after reading this article from The Washington Post.

The author, Christopher Ingraham, introduces us to a study conducted by conservative think tank Manhattan Institute.
"Economists and financial experts have been telling us for years how great things are for U.S. workers and consumers. The stuff we buy is dirt cheap, and living standards are higher than ever. Wages are keeping pace with inflation. Inequality probably isn’t as bad as you’ve been led to believe. The stock market is booming!
"So why, then, do so many of us feel like we can barely make ends meet?"
Why, then, indeed.

The Manhattan Institute set out to better understand why people have such a distorted view of our economic reality.

In the chart above, you'll notice a shift in the median male income and the cost of four major components of our lives: Housing, Healthcare, Vehicle, and College.
 “In 1985, the typical male worker could cover a family of four’s major expenditures (housing, health care, transportation, education) on 30 weeks of salary. By 2018 it took 53 weeks. Which is a problem, there being 52 weeks in a year.”
Yes, you read that correctly.

In 1985, the typical male worker could cover a family of four's major expenditures by working 30 weeks. In 2018, it takes 53 weeks...and there are only 52 weeks in a year.

For you Trump supporters, that means the average worker no longer can cover a family of four's expenditures with a full year's salary.

Back in 1985, the average worker would have 22 weeks of salary left over for groceries, vacations and other expenses.

Not so today as the average worker is minus one week just to cover the four major expenses of living.

The Manhattan Institute also ran the numbers for the average female worker. Since the average female makes 80-percent less than the average male, the numbers are even worse.

And now the point...

Trump supporters tell you their support stems from Trump's success as a businessman and they repeat the talking points regarding the "growth" of the economy. We already know that's false thanks to this comparison of the Obama and Trump economies and this comparison of the growth of 401Ks under Obama and Trump.

So, where does that leave us?

If it's not the economy, what is it that keeps Trump supporter dragging his knuckles to the Trump rally?

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