If pro-growth economic policies could raise that real compensation growth to 3% a year, after just 20 years their real incomes would double, and after 40 years it would triple.
If real compensation growth for the poor can be sustained at just 2% a year, after just 20 years their real incomes will increase by 50%, and after 40 years their incomes will more than double.
The value of all stocks is still almost double the 2009 lows, yet today incomes are barely growing and realistically with all the headwinds we face there is no hope for rapid growth anytime soon.
This prospect -- relatively stagnant family incomes combined with family health-care costs that double every decade -- is what America's middle class should contemplate as it thinks about the imperative of health reform.