Before the coronavirus hit the U.S. (and despite what the mainstream media seems to say daily, President Trump didn’t cause COVID-19), the economy was going gangbusters.
The “median household income increased 6.8 percent to $68,703 between 2018 and 2019,” before the coronavirus. the Buerau said in a report.
Wages for full-time men in the middle of the national wage scale grew by an average of 2.1% to $57,456. Median full-time female employees gained 2.5%, up to $47,299, says the September 15 report, titled “Income and Poverty in the United States: 2019.”
“It was a pretty banner year for households, and really across the income distribution, we got a lot of eye-popping figures in this release,” David Deull, the top economist at IHS Markit, told the Wall Street Journal.
All races made heavy gains. Household income for whites grew 5.7%; Latino households gained 7.1%; black households gained 7.9%; and Asian households gained 10.6%.
Poverty also plunged, the reports said. “The poverty rate for Whites decreased 1.0 percentage point to 9.1 percent. The poverty rate for Blacks decreased by 2.0 percentage points to 18.8 percent. The poverty rate for Hispanics decreased by 1.8 percentage points to 15.7 percent.” The number of people in poverty fell to 34.0 million, which was roughly 4.2 million fewer than in 2018, amid the inflow of many poor illegal immigrants.
Even Joe Biden admitted Trump’s economy was working well for the middle class.
“He has focused only on making sure the stock market stays up and make sure it doesn’t decline because then it looks bad and the economy begins to droop for the very people that he most represents,” Biden said.
Biden said Trump was “trying to make it look like he’s actually helping some people that are in that struggling area to middle class area.”
Uh, yeah. Meanwhile, Democrats in Congress have left Americans hanging, refusing to pass another stimulus bill to deliver $1,200 to Americans as they hold the package hostage over climate change and the U.S. Postal Service.