Treasury Secretary Is Bragging About Real Wage Growth. Is He Right?

How Does Trump Compare to Biden in wage growth?

Bessent’s September 23 Claim

“Unlike under the Biden administration, where we had negative wage growth, we are seeing substantial wage growth here. That wage growth is going to continue.”

That’s a lie.

Biden Years

Real Personal Income: 18,677 to 20,338. Plus 1,661 up 8.9 percent
Real PI Excluding Transfers: 16,398 to 17,868. Plus 1,470 up 9.0 percent
Real Disposable Personal Income: 15,090 to 16,607. Plus 1,517 up 10.1 percent

Trump Years

Real Personal Income: 20,388 to 20,595. Plus 207 up 1.0 percent
Real PI Excluding Transfers: 17,890 to 18,123. Plus 223 up 1.3 percent
Real Disposable Personal Income: 16,635 to 16,615. Minus 20 down 0.1 percent

Real Income Notes

Real means adjusted for inflation
Transfers are government payments for which no current services are performed. Example include Medicare, Medicaid, Social Security, and food stamps now called SNAP.
Disposable means after taxes

Biden had four full years. Trump as 19 months,

Through August 2026, real disposable personal income under Trump is negative.

An Idiot’s Question

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You are missing a highly unpopular war, idiotic tariffs, ridiculous deportation policies, Epstein, soaring diesel prices, and angry farmers.

And the idea that real incomes are at record highs is a ridiculous lie.

Three Rounds of Highly Inflationary Stimulus

I was against the second two free money handouts. Two are changed to Trump because as president, he signed those bills.

He wanted a bigger second stimulus than he got.

The third was ludicrous. And we paid a very inflationary price.

Trump’s $5,000 Free Money Proposal

Trump recently proposed sending $5,000 rebate checks to all adult citizens.