Pew Research: Median Incomes Have Fallen Since 1999
(Washington, D.C.) – President Obama recently declared that “by almost every measure, America is better… than it was 50 years ago, or 30 years ago, or even eight years ago.” The President was elected in order to fix the economy, but we’re still experiencing sluggish growth, declining entrepreneurship and seemingly permanent economic malaise. According to new findings by the Pew Research Center, households in cities across the country experienced near-universal decreases in median incomes from 1999 to 2014 – with a nationwide fall of 8 percent from 1999 to 2014. The median income of middle-income households decreased from $77,898 to $72,919 over that time.
Daniel Garza, Executive Director of The LIBRE Initiative, released the following statement:
“The President can talk about the progress of history in this country all he wants, but that won’t change a thing about his own record. Of course, America has experienced sustained periods of economic prosperity in the past decades, but how have things fared in our recent history? This latest report is just another reminder that despite years of an agenda that promised to deliver shared prosperity by expanding government, American families are hurting while only Washington flourishes. In fact, median incomes are lower than they were back in 1999 – despite an activist government, nearly $1 trillion in stimulus spending, higher taxes, overbearing regulations, and massive new debt – which President Obama has justified in the name of economic growth. Is this as good as it gets?”
For Interviews with a representative from The LIBRE Initiative, please contact Brian Faughnan, 703-678-4581