January 18, 2017

Obama’s Legacy: U.S. ranks 23rd of 30 on economic inequality

 (AP Photo/Nam Y. Huh) No matter which Party or ideology you belong to, growing economic inequality should concern you. If America’s economy isn’t producing economic empowerment for vast swaths of the country, no one should be satisfied. Democrats tend to talk more about inequality — especially President Obama and Senator Bernie Sanders — but the latest report from the World Economic Forum (WEF) shows that America under President Obama’s leadership has gotten more unequal. The United States now ranks 23rd out of 30 developing countries on their “inclusive development index” (IDI). Economic growth in America benefiting the wealthy disproportionally compared to the other major countries. The report explains, “It is among the three advanced economies with the highest levels of poverty and income inequality.” “Median household income has been on a downward trend, though there has been a slight improvement in the past couple of years. Its high levels of debt call into question its fiscal sustainability,” the report said. This is an indictment of the last eight years. The United States has dropped 11 spots since the previous time the IDI was calculated. And while the wealthy have enjoyed an economic recovery since the recession, that recovery isn’t widespread. Obamacare, executive regulations, and the President’s other economic initiatives lower income Americans haven’t felt the benefits. Keep reading Obama’s Legacy: U.S. ranks 23rd of 30 on economic inequality.