President Obama didn’t change anybody’s mind on the state of the economy during his 2016 State of the Union speech.
But he did clarify who the winners and losers are. And whether you’re
an economic winner or loser determines whether you’re upbeat or gloomy
about the nation’s future.
Obama flatly
rejected doomsayers such as Donald Trump when he declared that “America,
right now, has the strongest, most durable economy in the world….
Anyone claiming that America’s economy is in decline is peddling
fiction.”
Is Obama right? Yes
and no. On a statistical basis, yes, the U.S. economy is growing faster
than in most other nations right now. That supports Obama’s claims. But
in some ways—such as median household income, adjusted for
inflation—it’s still behind where it was when Obama took office. So from
that perspective, Obama’s the one peddling fiction.
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