...is from David Frum, one of the last lucid voices on the Right (all emphasis mine):
It’s estimated that the typical American household lost a third of
its net wealth in 2008-2009 and has not recovered it yet. Median
incomes too have not yet returned to pre-crisis levels.
The quote is a little out of context; it's from a (very good) critique of Paul Ryan's anti-poverty plan. I bring it up, though, to underscore a point I was trying to make in a post last week on President Obama's popularity.
Neil Irwin, meanwhile, writes in the Times:
The economy keeps underperforming. Yes, new G.D.P. data last week were better than expected.
But the United States is still producing around $800 billion a year
less in goods and services than it would if the economy were at full
health, and as a result millions of people aren’t working who would be
if conditions were better.
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