The President claimed in his State of the Union speech that the national economy is doing well. That may seem true inside the Beltway, but out here in the Real World, it doesn’t look so good.
Salena Zito writes that economic discontent is widespread.
The economy is dismal not just in the old Rust Belt but nationwide. On Tuesday, the National Association of Counties released its gold-standard study that shows, six years after the economic expansion began, 93 percent of U.S. counties have failed to fully recover from the devastating contraction they suffered during the recession.
Only 7 percent, or 214 out of 3,069 counties nationwide, recovered by 2015 to their pre-2008 numbers on total employment, economic expansion, home values and unemployment.
Read the whole thing. She suggests that the economic malaise of the Obama economy is one of the key drivers of the populist unrest pushing both the Trump and the Sanders presidential campaigns.
John Hinderacker chimes in, noting that the economic recovery over the last 7 years has been the worst in the past 70, in large part because of government disincentives.
In other words, government welfare programs are crushing America’s economic growth.
He’s posted a staggering chart of federal welfare programs that spend over a terabuck (a trillion dollars) each year. It’ll still be too hard to read after you click to enlarge it.
Meanwhile, back inside the beltway, DC city officials are bent out off shape because their minimum wage hike has caused Walmart to have second thoughts about building more stores in the city.