the staff of the Ridgewood blog
Ridgewood NJ, the annual US Census Bureau report on income and poverty in America – the gold standard of economic data – was released yesterday and it highlighted how swiftly minorities climbed up the economic ladder under Trump.
From 2016- 2019 real median household income for all Americans leapt by almost 10% to $69,560 In 2020 – the pandemic year – incomes fell by 3% — a much smaller decline than was expected. The media is arguing this was because of massive government stimulus spending, but we believe the bigger factor was the wise decision by Trump to only very briefly locked down the economy. The 2nd best year ever for incomes and low poverty was 2020. The best year was 2019.
Spreadsheet is from: https://www.census.gov/data/
Spreadsheet link: https://www2.census.gov/
The new numbers for 2020 show a rise in poverty and loss of income for all races last year, but even with the economic jolt from the virus, incomes were higher, and poverty rates lower for ALL races than in any year on record EXCEPT 2019.
For the most part, minorities made more economic progress in the first three years under Trump than in eight years under Obama. That’s an impressive record for a “racist” president.
It does not fit the narrative and therefore must be false.