US median household income statistics for 2015 have been fudged
If we are to believe the US Census Bureau, real median household income in the US rose by 5.2% compared to the previous year, the largest such increase in the over the last 45 years. The economic Pollyannas have latched onto this surprising data as evidence that the US economy is doing fine. Maybe President Obama was correct to aver “Anyone claiming that America’s economy is in decline is peddling fiction.” However, maybe due to my fondness of fiction, upon learning of the 2015 median house income data, I was highly skeptical to say the least.
Well it looks like my skepticism was well justified. Thanks to the analysis of David Stockman and others like John Williams of Shadow Government Statistics, it appears that the US Census Bureau median household income data for 2015 has been highly “fudged.” Contrary to Obama’s statements, it looks like he and his bureaucratic minions are the ones peddling fiction.