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The So-Called Economic Recovery

From the Center on Budget and Policy Priorities:

“The fruits of the recent recovery have accrued disproportionately to corporate profits and the well-off. In contrast, employment levels, wages for workers, non-residential investment, and wealth and income growth generally, have fared less well than in prior recoveries.a This phenomenon is primarily a reflection of problems with the nature of the economy, however, and is also a reflection of a multi-decade trend toward rising income inequality. Legislative responses to the unbalanced nature of the economy, if appropriate, should therefore focus more on labor policy than on economic stimulus — particularly not on “stimulus” policies aimed at those who have already benefited the most during the recovery.

a. See Shapiro, Kogan, and Aron-Dine, “How Does This Recovery Measure Up?,” Center on Budget and Policy Priorities, August 9, 2005, at http://www.cbpp.org/8-9-05bud.pdf.”

Ordinary Americans know there has been no big ole economic boom. Only a handful have benefited.
If you have benefited, you are one of the lucky few.

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