When you have an administration that so easily and readily lies, and a conservative news media that promotes it, knowing truth is hard. NOW, Trump admin is lying about basic statistics.
Kudlow says deficit falling. It's up 23%.
Trump says wages rising. Real wages are falling.
Kudlow says deficit falling. It's up 23%.
Trump says wages rising. Real wages are falling.
...and when I say real wages, that does not mean "truthful" wages. If you cite wages, that means you have not adjusted for $ value. A dollar today is worth far less than it was in 1970s. So constant dollars gives real wages. And wage number is growing less than inflation.
...to cite "wages" is, as any economist knows, an absolute lie. Inflation decreases the purchasing power of $1, so growth in wages is the amount wage number growth exceeds inflation. Otherwise, you are saying "inflation makes your wages more."
