Is the rising tide lifting all boats?

download-1‘Murica got some good economic news from the U.S.Census Bureau, namely:

…Real median household income increased by 5.2 percent between 2014 and 2015 while the official poverty rate decreased 1.2 percentage points. At the same time, the percentage of people without health insurance coverage decreased.

Median household income in the United States in 2015 was $56,516, an increase in real terms of 5.2 percent from the 2014 median income of $53,718. This is the first annual increase in median household income since 2007, the year before the most recent recession.

The nation’s official poverty rate in 2015 was 13.5 percent, with 43.1 million people in poverty, 3.5 million fewer than in 2014. The 1.2 percentage point decrease in the poverty rate from 2014 to 2015 represents the largest annual percentage point drop in poverty since 1999.

The percentage of people without health insurance coverage for the entire 2015 calendar year was 9.1 percent, down from 10.4 percent in 2014. The number of people without health insurance declined to 29.0 million from 33.0 million over the period.

— which means the Big Scary World Crowd might not be telling the entire truth, bless their hearts. Of course, not all boats are being lifted.

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One response to “Is the rising tide lifting all boats?

  1. In order to get lifted, you gotta have a boat. That’s the rule. And while the Census report is certainly good news generally, there’s still a lot of folk out there without boats, or with boats with so many holes in them they’re not really worth counting. (Don’t get me started on healthcare.) The Gini index, how the Census tracks income/wealth inequality, remains unchanged. Which could be considered good news. Especially if you’re a politician. Or situated far enough away from all things median that you can afford a sigh of relief that nobody is paying much attention to that silly Gini thing for once.

    But I’m going to steer away from specifics…for now (watch your inbox) or at least until the State and local estimates are released tomorrow…because I don’t want to get lumped into the Trump camp. Even though when it comes to critiques of Capitalist economy, my people got Trump beat by about 150 years.

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