US economy struggling due to decades of reckless spending and stagnant wages

From Investing.com: 2024-09-27 09:22:00

In order to rescue America’s struggling economy, it is crucial to address Washington’s reckless spending and borrowing practices over the last 25 years. Real compensation per labor hour, a key economic metric, has stagnated for the past 52 months. The high-pay durable goods manufacturing sector has seen zero net gain in real compensation per hour over the last 15 years. Additionally, the goods-producing sector, including manufacturing and energy, has experienced stagnation and decline in both pay rates and total hours worked since the late 1970s. The Biden-Harris administration’s claims of job creation and economic strength are misleading, with much of the growth coming from low-pay sectors like leisure and hospitality.



Read more at Investing.com: US Economic Resilience Hinges on Ending Decades of Reckless Spending and Borrowing