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Economic Recovery Still not Reaching Americans?

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  • Description

    FBN’s Gerri Willis on the state of the economy and its impact on American families.

  • Duration 2:02
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This transcript is automatically generated

-- let's move on it is time now for a fact check.

The president likes to say are lagging economy is a product a byproduct of a legacy.

Of George W.

Bush.

And by the way.

Just like we just in their plan under the previous administration has been work.

We've just had my plan because as you'll recall under Bill Clinton when both axes were a little bit higher on -- like -- The economy grow faster than hasn't years.

43 million new jobs.

And so lawyers what the president saying don't blame the Obama White House for three years of unemployment above 8% -- Public GDP growth there -- housing market they can't seem to find its legs for six years.

But if the president right.

Not according to new research percent -- research in fact if you're feeling that the recovery never happened.

You may just be right.

Consumer incomes have recovered about a quarter of the ground they lost during the recession but progress still stalling.

Incomes are up more than 2% in the last year through June but.

Incomes are more than 7% lower than where they started at the start of the recession in 2007.

And get this nearly 5% below where they were when the recession ended.

In other words you take a look at the numbers and what you find is this consumers have lots more ground since this recession ended than they did while -- the current.

Think about it the economy is recovered but most American family still haven't.

Earlier this week we talked about new research from pew research which found similar issues middle class Americans have lost 28%.

Of their net worth in the past decade much of -- due to the housing bust.

It's no wonder 85% of people who identified themselves as middle class they it is more difficult now than a decade ago to maintain their standard of living.

This is what this year's presidential campaign should be about the economy the future of the middle class national debt anything else it's simply --

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