Setting the Record Straight

The White House likes to put out these "Setting the Record Straight" releases whenever reality contradicts their spin. Today's Edition: America's Wage Growth Is Steady And Strong

Real Wages Have Risen 2.8 Percent Over The Past Year, Which Means An Extra $1,687 For The Typical Family Of Four With Two Wage Earners. This data is specifically for production and non-supervisory workers, about 80 percent of the workforce – the supervisory workers who tend to earn more are not included.

• The National Unemployment Rate Has Dropped To 4.4 Percent – The Lowest Rate In More Than Five Years.
  
• Over The Past Three Months, America Has Added 470,000 New Jobs, For A Total Of More Than 6.8 Million New Jobs Since August Of 2003.

What they are arguing here is things are starting to get to Clinton era levels. They fail to mention that median family income dropped almost three percent in the last six years. The method of taking averages glosses over the fact that job growth does not reflect quality job growth. Averages might be up because the top percentages are making money but the middle and low end as usual are stagnant or losing out.

Consumer Prices Fell For The Second Straight Month In October

Chinese brand televisions for all!!!

Energy Prices Fell 7 Percent In October

After a most incredible increase. Gas around here is only $2.50 so I should be thankful to this administration.

At the end of the day, the editorial they were trying to refute ("The Wage Picture – And What It Says About The Economy – Is Still Cloudy") seems to be an accurate assessment.

I'm not trying to be a gloomy gus and say that we are all doomed and everything is terrible but ignoring the problems we are facing and calling out anyone that questions where we are heading does not do us any good.