If everybody is making so much more money, why does the economy still suck?
The Census Bureau reported an unprecedented increase in household income in the last year, but it just doesn't pass the smell test. Is it possible that the Obama administration is trying to stack the deck for Hillary? Liberal media outlets provide ample examples of how far they will go to make this charade work.
If you're looking for liberal disinformation, you don't have to go any farther than Steve Inskeep's Fresh Air program on NPR. This morning, he brought on two economists who possess absolutely no olfactory abilities – Peter Morici with the University of Maryland, introduced as a conservative economist, and Jared Bernstein, with the Center on Budget and Policy Priorities, a former adviser to President Obama. They neglected to label Bernstein, so we have to assume he's a liberal.
NPR loves bringing on conservatives to cover topics that benefit Hillary and Obama and can be used to comment against Trump, because it's not hard to find "conservatives" who hate Trump. The liberal outfit is able to claim balance, but in reality, it's three against Trump.
On the topic of positive median income numbers, none of the three felt the need to apply the smell test to an unprecedented one-year 5.6% increase in a national statistic. Especially when there are no other economic indicators that would have predicted such a jump. The same statistical manipulation was happening right before the November 2012 election and was met with no skepticism by the Obama-loving media then, either. When the stats were adjusted down after the election, the media ignored the fact, which I suspect will happen again.
Here are some snippets from the conversation that reveal their agenda:
INSKEEP: People near the top have been doing great, yeah.
BERNSTEIN: So that's exactly right.... If you actually look at the income gains for the lower-income households, they did better, I think in the 20th percentile. So low-income households they grew between 6 and 8 percent.
INSKEEP: But let's be real, let's be real here. Even with this raise for people at the middle or the raise for people at the bottom, people at the top have been doing spectacularly well...
MORICI: Oh, great.
BERNSTEIN: ...No question.
INSKEEP: ...So much better than everybody else...
This opened the door to put holes in Donald Trump's campaign assertions, but nobody takes a deep dive into what they are all enthusiastically agreeing to.
To summarize, here's what the conversation says: wages for the lowest-income folks increased as much as 8%. Wages for the median increased 5.6%. And wages for the wealthy are doing spectacularly well, which we can assume to be 15%-ish.
So if everybody is doing so well, why did retail spending go down? Why are manufacturing figures negative month after month? Why is GDP struggling to stay positive? Why are seven states reporting recessions? Why is home construction fluctuating up and down off zero? Why is the percentage of people out of the workforce barely budging? Why are food stamp recipients still at near record levels? Why? Why? Why?
Just one last question: why isn't anybody applying the smell test to these obviously contrived figures coming out of Obama's spin machine?