the staff of the Ridgewood blog
Ridgewood NJ, a recent Census Bureau report reveals that despite some economic recovery since the pandemic, many Americans are still financially worse off than they were before COVID-19. While headlines may suggest otherwise, real median household income under the Biden administration has yet to reach its 2019 level, leaving working-class families struggling to regain lost ground.
According to the report, the median income for 2023 stands at $81,610—about $600 lower than it was in 2019. This gap becomes even more concerning when factoring in expected growth. If household incomes had grown at just 2% annually since 2020, today’s median would be nearly $3,000 higher.
In terms of income growth across racial and ethnic groups, the report shows that whites, Blacks, Hispanics, and Asians all saw greater income gains during the Trump administration than under Biden’s leadership.
On top of that, poverty levels—particularly child poverty—are now higher than they were during the Trump presidency. This highlights ongoing challenges for American families, many of whom are grappling with stagnant wages and rising costs, even as they hope for economic progress.
As these financial realities come into sharper focus, the nation must address the lingering effects of the pandemic on family incomes, particularly for those in the working class.
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Dumb as a stump.
Which one? The Father of the Vaccine that shut down the economy over an obvious lie?
John Barron
#KamalaDidThis
Who is this guy?
Is he still alive?
Didn’t he used to be the President?
Last full Cabinet meeting was Oct 3, 2023.
I stand corrected..Doctor Jill ran the Cabinet meeting on Friday.