White House Boasting After Income Report Downplays Falling Oil Prices
President Obama has touted this week’s Census report on poverty and income as evidence that his economic policies are working. “We lifted 3.5 million people out of poverty–the largest one-year drop in the poverty rate since 1968,” he said Tuesday. But the claims obscure an actor who inadvertently helped boost American incomes last year: the Government of Saudi Arabia. The data released by the Census Bureau showed that inflation-adjusted median incomes had increased for the first time since 2007, by an impressive 5.2 percent. This… Keep Reading