This article challenges a lot of misconceptions. It also addresses the smoke and mirrors we tacitly ask our candidates to deceive us with. The collective conversation about problems we face as a country has been hijacked by BS. This article addresses some of those problems more directly.
For the first time since the Great Depression, median family income has fallen substantially over an entire decade.
By last year, family income was 8 percent lower than it had been 11 years earlier, at its peak in 2000, according to inflation-adjusted numbers from the Census Bureau. On average in 11-year periods in the decades just after World War II, inflation-adjusted median income rose by almost 30 percent.
The recent stagnation has also led, economists say, to confusion and even scapegoating about the real sources of the problem. The causes that can seem obvious, and that often shape the political debate, are not necessarily the correct ones.
Some of the disconnect between the economy’s problems and the solutions offered by Washington stem from the nature of the current political debate. The presidential campaign has been more focused on Bain Capital and an “apology tour” than on the challenges created by globalization and automation.
NYTimes: Standard of Living Is in the Shadows as Election Issue http://nyti.ms/TxKlat