Economics

The Growth Gap

Where is the economy today, and where should it be?

By From the June 2014 issue

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If Ronald Reagan will be forever known as the “Great Communicator,” Barack Obama is on track to go down in history as the “Great Divider.” His single-minded message over the last several years—and especially in recent months—has been highlighting the gap in wealth or in income between different groups of people. One week he obsesses over the gap between rich and poor. The next he talks about the gaps between races. And that is followed by the gap in earnings between the sexes. What next? Tall versus short? Lefties versus righties? There’s a good possibility that this preoccupation with our differences is meant to divert attention from the real enduring economic legacy of Mr. Obama’s presidency: Just about everyone is doing worse. For the middle class, incomes have fallen by almost $3,000 since Obama was sworn into office and almost $2,000 since the recovery began.

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About the Author

Stephen Moore is the chief economist at the Heritage Foundation.