The Economy Is Better Than You Think (Here’s the Proof)

Turn on the news for five minutes and you’d think the economy is falling apart. Wages are stagnant, debt is exploding, everyone’s broke — or so the headlines would have you believe.

I decided to actually check the data. Here’s what I found.

Household net worth in this country has climbed dramatically over the last several years, and it’s not close — assets have grown many times faster than liabilities have. Credit card debt makes headlines every time it sets a new record, but as a share of income, what households actually spend servicing their debt each month is lower than it’s been for most of the last two decades. Unemployment sits near a 50-year low. Wages, even after accounting for inflation, are higher than they were a few years ago. And company earnings — the thing that ultimately drives stock prices over time — keep climbing, both here and abroad.

None of that means everything is perfect. Inflation has been a real burden, and plenty of families are genuinely stretched. Averages can hide real pain. But taken as a whole, the underlying data paints a far better picture than the daily headlines suggest.

So why doesn’t it feel that way? Partly because bad news travels faster than good news — it always has. Fear sells; contentment doesn’t get clicks.

I’d encourage you to hold two truths at once: things are, in aggregate, in pretty good shape, and it’s still wise to plan carefully for your specific situation. Scripture tells us not to be anxious, but to bring our requests to God with thanksgiving (Philippians 4:6) — and I think that applies just as well to how we consume financial news. Give thanks for what’s actually true before you let the noise convince you otherwise.

If the headlines have you rattled about your own plan, let’s talk it through with your actual numbers instead of the nightly news.