On Friday, billionaire investor and television personality Mark Cuban attempted to defend the state of the economy under President Biden and criticized former President Trump, contending that Trump squandered the robust economy he received from former President Obama.
Cuban responded to a user who appeared unimpressed by the statistics after highlighting a graph on the social platform X that showed 12 consecutive months of positive real wage growth in the U.S.
The year-over-year change in real average hourly earnings, which was displayed in the graph, appeared to encompass a significant portion of the Obama, Trump, and Biden administrations, dating back to before 2010.
The user contended that Cuban was disregarding the absence of any negative wage growth under Trump.
The graph indicates that Biden presided over 25 consecutive months of negative real wage growth prior to the 12 consecutive months of positive real wage growth, which occurred when wages exceeded inflation.
The “Shark Tank” star responded by contending that Obama and Biden both inherited economic crises and were able to rectify negative wage growth, in spite of significant evidence to the contrary.
“I just showed the graphic. Without commentary. The facts are that Obama and Biden inherited the Great Recession and Covid, both generational issues, and turned the economy positive over time.” Cuban tried to argue.
“The guy between them inherited a booming economy and in terms of wage growth, diminished it. Is that what the numbers say to you?” he concluded.
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