Jason Easley
Senate Democratic Leader Chuck Schumer (D-NY) and Sen. Martin Heinrich (D-NM) introduced legislation that would require the Trump administration to release wage growth data with quarterly GDP numbers.
According to a statement provided to PoliticusUSA by Sen. Schumer, “The Measuring Real Income Growth Act of 2018, which would require the Bureau of Economic Analysis (BEA) to report how economic growth is distributed across the income spectrum. This data would help to put quarterly GDP growth numbers in context, as it would provide a breakdown of the economic benefits seen by individuals across different segments of the economy. In short, this bill would provide policymakers with metrics that better reflect the economic experiences of all Americans, not just top income earners.”
Schumer said, “America’s working families deserve the full picture when the federal government publishes data showing how the economy is doing, especially with quarterly Gross Domestic Product (GDP) numbers,” said Senate Democratic Leader Chuck Schumer. “For too long, we have relied on GDP data as a bellwether for how Americans were faring in our economy. Too often, when we hear that GDP is rising and the economy is booming, there is an implication that all Americans are reaping the benefits equally – yet the reality is that wages for workers in the middle class remain flat and the income inequality gap continues to widen. This legislation seeks to cut to the heart of the matter and present a clear and accurate picture of who the economy is really working for.”
This Bill Could Also Be Called The Stop Trump Economic Propaganda Act
Trump has been bragging about misstating the GDP numbers without providing the real world context that the vast majority of Americans aren’t getting any gains from the Trump economy. Most ordinary working people are falling more behind because prices are increasing faster than wages.
As Sen. Heinrich said, “Instead of focusing on one economic indicator closely watched by investors, we should be examining data that captures why many families are still struggling to make ends meet. Only looking at headline GDP growth numbers to assess the state of our economy simply does not paint the whole picture, and leaves out the reality that many Americans have not seen their wages rise for years. Our priority should be ensuring that every New Mexican – and every American – can succeed in today’s economy. This legislation would provide Congress with the information to take real steps needed to finally address income inequality and the economic needs of all Americans.”
There is a reason why people are unhappy with the economy right now. Unless you are wealthy like Trump, you’re being left behind. Democrats are trying to force the truth out of the Trump administration that what looks good on paper isn’t really so good when people sit down at the kitchen table to figure out how they are going to make ends meet.
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