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Economist David Weiss says that the average American is not better off than when the president took office.
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It took them a few days.
But Democrats now say America is better off than four years ago look at the polls though most people don't agree with that 52% likely -- -- -- -- worse off than four years ago -- 1% say they are better off.
That isn't good news for the president fifty people percent to site doesn't deserve our -- reelection 40% say yep it is -- -- second term.
Joining the company now is David week's economist and Brown University adjunct professor David welcome back.
Spirit if you took it if if that question will -- today are you better off now than four years ago as an economist won't be your rants.
-- -- -- -- -- For somebody like me of them -- them for years older my stocks are up I'm retired -- not dependent on work and I'm I'm better off than it was four years ago about the -- -- the average worker Everett put him in -- -- -- he's probably we're talking it was four years ago wages have not gone up.
The unemployment rate has gone up.
You might safer than the top end of the Republican Party things are better off -- -- used to be most Democrats are worse off they were president Obama's constituents how they -- probably was off and certainly not any better at best can -- things have leveled off the last couple of years but that's an optimistic -- you -- didn't.
Mention the value of your home sixty odd percent of Americans -- the home in which they live I presume that was off all -- -- off the poison throughout depends on where you are.
It for most people on the average home values have dropped over the last four years the big drop was in 2008.
But that continued for another year -- now stabilized but depends a lot regionally and yet here in places like Florida Arizona and Nevada -- a lot worse off.
Northeast not so bad about guess 382.
Verses what is it 184 point remember there was a hurricane.
-- -- when president for that one.
But it affects you find out -- occupying -- but he's been at the gas -- is when you can't spend at the shopping mall but the all time peak for gasoline prices -- -- summer of 200810.
Now you've made a judgment as and economists are you better off now -- four years ago depends on you law for most people probably a little was all -- -- economic opinion.
How about America and cannot describe it its financial culture.
Who would you say that we're a bad stuff this is a value judgment on -- -- -- but I'm asking.
L we of that took country it is enough financial culture that we -- four years ago we've had for years -- we haven't fixed -- that needed to be fixed.
That's the biggest problem.
The budget is still a mess it's -- worse mess than it was four years ago in four years ago was a mess.
Debt is now hitting a 100% of GDP that's above levels we think a sustainable in the long run.
Deficits remain too high although they are coming down.
And we're facing this huge load of entitlement programs that nobody -- -- real picks for.
And what about the culture.
Of success another -- some things I think them in America successful.
Entrepreneurship down dramatically.
Stable households families breaking up eight million people out of the workforce.
Mormon less -- less people in the workforce eight million compared to January then when Obama came and I mean aren't those things beneath the surface before the economist are crunching numbers that really determine where we go.
In -- the changing workforce participation -- because we're getting older I don't think baby boomers -- -- it will not sect that I've checked that that that that the part that's -- his book above fifty that workforce is growing and then people in the workforce and apart are going higher it's the younger people would drop out of the workforce I checked the numbers.
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