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Just Say It, Democrats: Biden Has Been a Great President
(newrepublic.com)
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this post was submitted on 08 Feb 2024
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Real wages (i.e. inflation adjusted) have been growing for the last year and are now even with what they were before covid.
In 2019 real wages were on par with what they were in 1973. That is no growth in over 50 years.
Of course things are going to go back to pre-Covid levels post-Covid. That's not a sign that things are magically fixed. Housing and food costs are at extreme highs, the amount of people working two jobs to survive are at highs, etc. etc. CPI also lags behind on many things such as market rent.
And don't even get me started on the generational gap, millenials, zoomers, and alphas are all far far worse off than previous generations.
That graph kind of sidesteps the actual problem. Inflation has run away so much that 1973 isn't nearly enough. I know that seems weird because they used real terms but median wage increases since 1974 have lost to core inflation over the decades by over a hundred points.
What we're actually seeing here is the worth of money adjusting. But if you put core inflation on there it would be an even higher line.
It's worth mentioning that WEC is heavily pro-corporate and neo liberal. They'd love to push a graph that made it seem like everyone was panicking for no reason.
Cool, what does that have do with Joe Biden's presidency? You know, the one that started Jan 20, 2021 and is the topic of this thread.
Massive systems, like the economy, don't get fixed overnight. It took 40 years to fuck it up as much as it is now and it will probably take nearly as long to unfuck it.
In 2019 Joe Biden wasn't president.
?!
See that? That's where the other user was talking about 2019, hence me mentioning it before you came along and decided "fuck reading comprehension" and dropped the most useless comment in this thread.
Bro holy shit go outside. You need some fresh air man
It's gross, please stop
Swing and a miss
Removed, rule 3
Just fyi, I can't see my removed comments though automod says I should be able to. I'm on web browser on mobile.
Congratulations you swallowed a propaganda line that wasn't even true when they printed it.
If by propaganda you mean statistics from the BLS, then yes. But I'm sure your gut feeling is far more accurate.
BLS never announced that. An "economic" think tank did. Coincidentally the math doesn't work out and it's an election year.
Yes, they did. They publish data monthly on average hourly earnings of all employees. It doesn't take a master statistician to take that and compare it against CPI-U and see that the average earnings one is now bigger compared against a Jan 2020 baseline. Do you want me to send you my excel from last night?
So did they announce it or are you interpreting the data they put out.
What exactly do you think the difference between "announcing" something and posting the data is?
Did they make a blog post? Hell if I know. I went to the data directly. Do you think adjusting for inflation is some complicated thing?
Edit: Here, is this what you want?