Monday, September 03, 2012

"Are You Better Off Today?"

Depends on the rest of the question. If the question is...

Are you better off now than twelve years ago when Bill Clinton was President? The answer here is clearly no. Many more people are unemployed now than then. Middle class wealth, measured by the value of their homes, is significantly less. But if the question is...

Are you better off now than four years ago when George Bush was President? The answer here is just a clearly yes. Four years ago the economy was teetering on the cliff of a depression. The banking industry had shut down. Bank foreclosures on middle class homeowners was sky rocketing. Jobs were being shed at a staggering rate. And we were still stuck in a no-win war in Iraq.

There is a lot of room for improvement but we are in fact better off than the last time a Republican lived in the White House.

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