The Congressional Budget Office recently made some promising announcements. Their most recent research suggests that our national deficit has been reduced by about 33% this fiscal year, marking a six-year low. And according to the Labor Department, we’ve seen private sector job growth for the 55th month in a row. Apparently, these government agencies believe the Obama administration is doing a pretty good job.
But if all these improvements have aided our economy while President Obama has been in office, then why do so many Americans think our country is headed down the wrong track and find themselves worried about their financial security? There seem to be a few missing details the CBO and Department of Labor failed to mention.
One problem they aren’t factoring into the equation is inflation. When you look at our economy from this angle, one quickly notices that our middle class is actually one percent poorer than it was in 1989 when President Reagan left office.
These numbers align with the fact that hourly wages for Americans who work in the private sector actually decreased last month. Essentially — wages are staying the same, and in some cases they’re decreasing. That doesn’t sound like something the Obama administration should be celebrating.
House Republicans are working endlessly to ensure brighter days ahead. The Republican-controlled House has passed over 40 bills aimed to strengthen and grow our economy. Unfortunately, these solutions are stuck in a Democrat-controlled Senate. Unlike President Obama, we’re creating solutions to the problems, not dusting them under the rug and pretending they don’t exist. Now we need Democrats to step up and do the same.