The Patriot Post® · Nobody Believes Washington's Flawed Economic Statistics

Stephen Moore: “A new Wall Street Journal/NBC News poll finds that 64% of Americans are ‘dissatisfied’ with ‘the state of the economy’ versus only 35% ‘satisfied.’ And 71% of Americans think the country is ‘on the wrong track.’ … Here’s the problem. Nobody believes the statistics out of Washington and often for good reasons. A 2% inflation rate. Ha. Most Americans see the rate of price increases for the things they have to buy … rising at sometimes two to three times faster than the official CPI. … For middle class families so far in this recovery, which officially began in June of 2009, real median household income adjusted for inflation has fallen by more than $1,500, according to Census Bureau data. That’s some recovery. We would have just about $2 trillion more GDP according to the Joint Economic Committee of Congress if this economic recovery had been as strong as the Reagan recovery. In other words, if that money were evenly divided to all families, the typically family would have about $25,000 MORE income to spend every year.”