The so called “recovery” our Dear Leader has been ruling over is worse than most recessions.
But no amount of adjustment can obscure how bad the recovery has been for most American families. By many measures, 2014 was the strongest year of the recovery so far; the economy added nearly 3 million jobs, the most since 1999. Yet incomes were stagnant across virtually all groups: young and old, married and single, rich and poor.2 Virtually the only group to see a statistically significant gain in income was immigrants, whose median household income rose 4 percent to just under $50,000. Native-born households saw their income decline 2 percent to just under $55,000.
The recovery has utterly failed to lift the fortunes of the poorest Americans. The official poverty rate was 14.8 percent in 2014, nearly unchanged since the immediate aftermath of the recession, and far above the prerecession level. Some 15 million children and 5 million seniors are living in poverty.
What we have is the worst recovery since the Great Depression.
Is this the change you were hoping for?