But basically, this is cause for joy. Rising income means rising consumer confidence, which sets the stage for more private spending, and less private spending, in the future.
Another interesting note for politicos is that when incomes rise, incumbents have a better shot at keeping their jobs. The relationship between growth in real disposable income and House seat losses is statistically significant -- much more so than unemployment. Most presidents lose House seats during midterms, but high income growth mitigate those losses, dramatically.
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