New Report Exposes Underbelly of Booming Economy
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FEATURING JESSICA GOODHEART – When asked about the volatility of the stock market on Tuesday President Trump said during his press conference in India, “if I don’t win you’re going to see a crash like you’ve never seen before.” Trump has bet his presidency on solving economic woes for ordinary Americans and has touted the buoyancy of the stock market as evidence that he is lifting up all Americans. He has pointed to the official unemployment rate which has remained low.
But a deeper examination of the actual economic health of ordinary Americans – which is not the same as the stock market – paints a very different picture. A new year-long report into economic inequality shows that the reality is at odds with Trump’s rhetoric. Specifically under Trump, in almost all states, real median household income growth has fallen over the past two years.