Unemployment, at the lowest level since 2007, home prices at all time highs, with the middle class getting a pay raise. These words from CNN Money where they quote Paul Ashworth, chief economist at Capital Economics, saying, “The ‘Obama economy’ deserves a ‘B or B+’ grade.” It’s not an “A” but many think it should be, and the the President, in defense of his administration commented:
“Anyone claiming that America’s economy is in decline is peddling fiction.”
Wages are stagnant, have been for some time, not responding to a cycle where they usually rise when unemployment goes down. One of the reasons is, rather than pay higher wages, companies are going overseas for cheaper labor. But with no inflation, workers at least keep a status-quo, which could change soon if the feds up the interest rates. What matters is that the economy is going in the right direction under Pres. Obama. We’ll see where it’s going a year from now.