In a 1963 speech, President John F. Kennedy said, “A rising tide lifts all boats.” JFK, of course, was not referring to the pristine waters lifting the luxurious vessels located along the Kennedy Compound’s waterfront property on Cape Cod. Rather, the 35th president was referring to the economic theory that when the entire economy grows, everyone (rich and poor) benefits.
In 2019, JFK’s words ring more true than ever. We are in the midst of an unprecedented economic expansion. In fact, as of this writing, the U.S. economy has now reached an all-time record (121 months and counting) of sustained economic growth.
No doubt, critics will claim that much of this economic good news should come with grains upon grains of salt. Even as the economy continues to break records (more on this later), far too many detractors still moan and groan about “inequality,” the “wealth gap,” and all other sorts of class-warfare nonsense.
Here is the blunt truth: The U.S. economy is back and better than ever. And despite the naysayers, all Americans (rich and poor) are better off because of the booming economy.
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