On Wednesday the Pew Research Center released a report titled, “The Lost Decade of the Middle Class: Fewer, Poorer, Gloomier.” I want to highlight just one part of the report:
For the half century following World War II, American families enjoyed rising prosperity in every decade—a streak that ended in the decade from 2000 to 2010, when inflation-adjusted family income fell for the middle income as well as for all other income groups, according to U.S. Census Bureau data.
You don’t have to be Stephen Hawking to connect what happened in the last decade to the policies of the political party in charge when things went south. Here’s a better graph that shows the damage:
That last little black chunk of negative growth is the George W. Bush-Republican Party legacy, the result of a brand of economics that Mitt Romney and Paul Ryan are at this moment weirdly championing as the solution to our slow recovery from the ravages of that black chunk of negative growth. Go figure that one out.
Here, in case your eyesight isn’t what it used to be:
Say what you want about Bill Clinton (and I have said plenty of negative stuff myself), if you look back at the decade he dominated, a decade in which taxes were raised to pay for the government people wanted, a decade that saw the budget come into balance, and a decade that saw millions upon millions of new jobs created, you have to admit that the following commercial with its simple message is something folks ought to pay attention to: