155
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 20 Mar 2024
155 points (83.5% liked)
politics
19148 readers
2075 users here now
Welcome to the discussion of US Politics!
Rules:
- Post only links to articles, Title must fairly describe link contents. If your title differs from the site’s, it should only be to add context or be more descriptive. Do not post entire articles in the body or in the comments.
Links must be to the original source, not an aggregator like Google Amp, MSN, or Yahoo.
Example:
- Articles must be relevant to politics. Links must be to quality and original content. Articles should be worth reading. Clickbait, stub articles, and rehosted or stolen content are not allowed. Check your source for Reliability and Bias here.
- Be civil, No violations of TOS. It’s OK to say the subject of an article is behaving like a (pejorative, pejorative). It’s NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
- No memes, trolling, or low-effort comments. Reposts, misinformation, off-topic, trolling, or offensive. Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.
- Vote based on comment quality, not agreement. This community aims to foster discussion; please reward people for putting effort into articulating their viewpoint, even if you disagree with it.
- No hate speech, slurs, celebrating death, advocating violence, or abusive language. This will result in a ban. Usernames containing racist, or inappropriate slurs will be banned without warning
We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.
All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.
That's all the rules!
Civic Links
• Congressional Awards Program
• Library of Congress Legislative Resources
• U.S. House of Representatives
Partnered Communities:
• News
founded 2 years ago
MODERATORS
I encourage you to read the article
I did, there was zero mention of how food prices went up 9.9% in 2022, another 5% in 2023 and are still going up.
https://www.ers.usda.gov/data-products/food-price-outlook/summary-findings/
https://www.ers.usda.gov/data-products/ag-and-food-statistics-charting-the-essentials/food-prices-and-spending/
It's no surprise Biden doesn't get credit for "the economy", it's because your average American is spending more, getting less, and not seeing the benefit.
You can't talk about the economy without talking about pocketbook issues and this article bends over backwards to avoid saying anything about that.
not to mention housing still is unaffordable.
The economy currently has an outlier problem where a few very rich people are posting massive gains. As soon as you remove them from the analysis the portrait is a grim picture of austerity and price fixing.
It's actually the total opposite of that. Inflation-adjusted income is falling for the top 10%, while it's rising for enough of the lowest-wage earners to boost the overall average picture to inflation-adjusted wage growth every single year, even during monster inflation caused by Covid + supply chain issues + corporate greed.
daily costs for most people have risen and rich people tend to have less of their income spent on the things actually going up in price so my guess is wages are a response.
Okay, let me be a little more complete since "inflation adjusted" seems to be confusing and I feel like maybe you're not the only one.
Per capita income, current dollars:
Now that's not a fair comparison, because exactly in 2022 was when post-Covid and supply chain and corporate greed fueled inflation to its peak. So, what we do is correct it down to constant dollars, which gives us inflation adjusted income in constant 2015 dollars:
... i.e. even after accounting for the factor you're claiming means we're making less, we're making more.
Income for the top 10% of wage earners actually went down by about 5% from 2020 to 2022, and income at the bottom tiers (again inflation adjusted) actually went up by enough to counterbalance it and result still was a net gain.
Leftists: yeah I'm not gonna read all that. Biden bad! returns to licking walls
At least I haven't had anyone accuse me of "sealioning" for quite some time. There are some advantages to the main-stream-ification of Lemmy I guess.