This chart from the weekend Wall Street Journal caught our attention. It’s a variation of a chart we’ve been running for months comparing wage growth vs. the pace of inflation in consumer prices. Notice that wages were running well ahead of prices under Trump (meaning real increases in family income) and that continued until early 2021 when the lines suddenly and sharply crisscrossed.
Biden erroneously wrote in the Wall Street Journal last week that the economy was floundering when he came into office. He hasn’t “built back better,” but built back worse.