The biggest issue in this year’s election is the economy.
Unfortunately, this topic has now been “politicized,” which means that you can’t talk about it without being instantly cheered or jeered by fans of each respective political team.
But the economy is much more important than this year’s election or either political team.
And both teams are responsible for the mess we’re in–along, I am sorry to say, with the rest of us.
And fixing that mess is going to take decades, regardless of who’s in power.
The first step is getting past the political blame-game and understanding what’s wrong.
We’ve had an amazingly prosperous run for the last 70 years. But we just had a big, unusual hiccup in economic growth.
On a per-capita basis, this hiccup was worse: “Real personal income per capita”–the amount we each take home after adjusting for inflation–is about where it was a decade ago.
So, what’s wrong?