From The Washington Post: The Hidden Depression Trump Isn’t Helping
Berry Craig
The economy may get the president re-elected, but not everyone is sharing in its strength.
By NICHOLAS KRISTOF
President Trump declared in his State of the Union address that “our economy is the best it has ever been.”
Put aside the Trumpian hyperbole, and it’s true that the economy is strong — and that this is critical to Trump’s chances for re-election. The Obama recovery has continued under Trump, with the stock market surging and corporate profits swelling. Just last month, employers added 225,000 jobs.
Private wealth owned by American households and nonprofits has soared just since 2000 by the equivalent of more than $800,000 per household, according to Federal Reserve data. Wow! I feel richer already.