News That Doesn’t Fit Their Biases

Two interestings pieces of news related to economics and major cultural issues that are destined to be swept under the rug by MSM because the data just doesn’t fit their narrative.

First we have, in the WSJ, a CBO report that disputes the widely held conventional wisdom that the poor are getting poorer while the rich are getting richer.

"On average, CBO found that low-wage households with children had incomes after inflation that were more than one-third higher in 2005 than in 1991."

Behind the registration screen is this:

Earnings growth tapered off as the economy slowed in the early part of this decade, but earnings for low-income families have still nearly doubled in the years since welfare reform became law. Some two million welfare mothers have left the dole for jobs since the mid-1990s. Far from being a disaster for the poor, as most on the left claimed when it was debated, welfare reform has proven to be a boon.

Far from simply justifying welfare reform, the CBO data also suggests that the ranks of the "working poor" have experienced considerable wage gains in an era of unprecedented low inflation.

Moving over to the Washington Post I found a fascinating article on a report about CO2 emissions in the U.S.

The 1.3 percent drop in CO{-2} emissions marks the first time that U.S. pollution linked to global warming has declined in absolute terms since 2001 and the first time it has gone down since 1990 while the economy was thriving. Carbon dioxide emissions declined in both 2001 and 1991, in large part because of economic slowdowns during those years.

What’s remarkable about this seemingly inconsequential drop in CO2 is that it occured during a period in which the U.S. economy has been on a tear, growing year over year and 3.3% in the last year alone. What’s even more remarkable is that in Europe, which to suggest has experienced lackluster economic growth would be generous, CO2 emissions actually increased.