Who knew that there was a Quality of Life Index? I certainly didn’t, but there is one, and Investor’s Business Daily posted an editorial about it on February 8th.
The editorial reports:
Unemployment at historic lows? Wages climbing at a fast pace? Who knew? The news media, fixated on Trump scandals, hasn’t exactly been broadcasting that good news. And media fact checkers busied themselves after the speech nitpicking Trump’s economic boasts.
But the upbeat assessment clearly resonated with the public, most of whom gave Trump’s speech top marks. Turns out they have been firsthand witnesses to the strength of the economy over the past two years.
How do we know? Look at the IBD/TIPP Quality of Life Index, which asks the public whether they think their quality of life will be better, worse or the same over the next six months.
In the 17 years IBD has been compiling this index, it’s averaged 56.2. Under President Obama, it averaged just 53.7. Even if you only include Obama’s second term, it was well below the 17-year average.
Under Trump? The Quality of Life Index has averaged 59.3. That’s a 10% increase over the average during the Obama years.
To be sure, there’s a partisan element to this. Republicans tend to rate their quality of life higher than Democrats when there’s a Republican in the White House, and vice versa. But look at independents: Their quality of life averaged 52 under Obama. It’s averaging 58.8 under Trump — a 13% bump.
What’ more, the gains are across the board. Households making from $35,000 to $50,000, for example, saw an 8% gain in this index when you compare Trump to Obama. Those making from $50,000 to $75,000, an 11% gain.
This is what winning looks like for the Middle Class.