Sunday, February 15, 2015
Just how strong is the economic recovery? Democrats have offered somewhat contradictory answers to that question recently. The picture President Obama painted in last week’s State of the Union address was mostly rosy. “The shadow of crisis has passed,” he declared, citing “a growing economy, shrinking deficits, bustling industry, and booming energy production.” And indeed, the US economy added more jobs in 2014 than it has since 1999, and unemployment is at its lowest point in more than six years.
The competing, bleaker, view—described most forcefully by Massachusetts Senator Elizabeth Warren—is that the good numbers don’t accurately reflect the reality lived by America’s workers. Middle-class families “are working harder than ever, but they can’t get ahead,” Warren argued in an early January speech. “Opportunity is slipping away. Many feel like the game is rigged against them—and they are right.” The tide may be rising, but it’s failing to lift most of the boats.
Posted by Dictynna at 9:57 AM