See these excerpts from today’s NY Times:

· The mortal enemy of Bidenomics isn’t Donald Trump; it’s a reliance on aggregate and average numbers that mask the nature of the economy Americans experience. Focusing on G.D.P. is a mistake, as it obscures the range of financial success and hardship in an economy as unequal as that of the United States.

· G.D.P. may look robust, but 64 percent of households live paycheck to paycheck from time to time, according to a March consumer survey.

· The most recent data shows that the top 1 percent now owns 31.4 percent of American wealth, more than that of the entire bottom 90 percent. Between 1975 and 2018, American adults at the median income saw their paychecks go up at less than one-third the rate of G.D.P. growth while those with incomes at the 99th percentile saw their earnings rise nearly twice as fast as G.D.P.

See the entire commentary here:

Bidenomics Has a Mortal Enemy, and It Isn’t Trump

Opinion | Bidenomics Has a Mortal Enemy, and It Isn’t Trump

Sincerely,