November 1, 2016
FOUR MORE YEARS!:
Exactly what's wrong with 'more of the same'? (Catherine Rampell, October 31, 2016, Washington Post)
[N]early every data point available suggests Americans don't really want much change. They would probably be happy with a little more of the same -- if only they could find it.Exhibit A: President Obama's approval rating. For weeks it's been hovering around the highest levels of his second term. At about 54 percent, it's similar to Ronald Reagan's at this point in his presidency and is roughly 20 points higher than George W. Bush's during a comparable period. [...]After the worst financial crisis since the Great Depression, we returned to pre-crisis levels of income per capita in "only" seven years. Sure, that may not sound spectacular. But it's better than the historical average, and the records of nearly every other country that went through a financial crisis at the same time, according to work by economists Carmen M. Reinhart and Kenneth S. Rogoff. [...][I]nterest rates remain near record lows, at least in nominal terms. Inflation is teeny-tiny. Unemployment has been hovering around 5 percent, which not so long ago economists thought represented full employment.We've also had 72 straight months of job growth, the longest stretch of monthly net increases going back to at least 1939.Last year saw the greatest single-year increase in U.S. median household income since at least 1968. A more recent Labor Department release found that inflation-adjusted weekly earnings of the median full-time worker reached an all-time high in the third quarter this year.Even on the current administration's supposed major failure -- the Affordable Care Act -- things are looking pretty good. A record-low share of Americans are uninsured; health-care price growth has in recent years reached historical lows, too.
The great promise of Hillary is that she's no different than the presidents of the last 30 years.
Posted by Orrin Judd at November 1, 2016 6:34 PM
