Obama's 'great' economy

It is amazing how supporters of President Obama just rewrite history. In the Washington Post today, Catherine Rampell spouts the Obama party line that the economy is “great.”  Trump will soon take office with among the most favorable economic conditions — as measured by the government and private data sources — imaginable. And you can bet that he, and his supporters, will gleefully claim credit. Until things go south, anyway. For now, rose-colored economic data abound. The most recent jobs report shows the unemployment rate down to 4.6 percent. It hasn’t been this low since August 2007, several months before the Great Recession began. Or consider a broader measure of underemployment called the U-6. This includes workers who are part-time but want full-time work, and people who’ve given up looking for work but still want it. It’s not quite at its pre-recession level, but it has also fallen dramatically. Wages,...(Read Full Post)

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