Fighting For Average Americans
So Congress has passed a government funding measure that has pegged the national cynicism meter to the red and made us all feel like government represents itself at our expense. This so-called “Cromnibus” allocates $1.1T to avoiding a government shutdown. In the process, this 1,603 page legislation funds a lot of things that a lot of people do not like. One thing that particularly bothers US Sen. Jeff Sessions (R-AL)Heritage ActionScorecardSen. Jeff SessionsSenate Republican AverageSee Full Scorecard84% is that it funds all aspects of the government that would aid and abet in allowing the massive entry of low-skilled labor into an already-flooded job market.
Yet a cursory look at wages vs CPI shows a positive picture. We can fix 1967 wages and CPI to 100 percent and graph the changes between now and then. Things look like they are coming up roses.
Median Wage is 821 times as much as it was in 1967*. Drive a regression line through the time series and we’re going up an average of 18 index points (about 3%) per year. CPI is decreasing less rapidly. CPI is only 626 times as much**. A similarly significant regression line here suggests an increase of 12.5 index points (less than 2%) per year. So as Sam Kineson once joked about asking a police officer who declared him legally drunk; what’s the problem?
Well, according to Senator Sessions, the problem is a demographic one involving age. In an OP-ED piece the senator wrote for National Review, Senator Sessions makes the following points.
1) Today’s typical 18- to 34-year-old earns about $2,000 less per year (adjusted for inflation) than their counterpart in 1980.
2) Nearly one in four Americans in their prime working years (ages 25–54) are not working. This includes 10 million American men and 18 million American women.
3) Real median weekly earnings are lower today than they were in 2000.
4) Median family income is down $4,000 since November 2007
This is not what the overriding current narrative wants to hear said. The Left and The Right both combine to push back against brave …read more