Survivors of Cultural Disaster Also Endowed with Solid Incomes

In an argument against showering more government subsidies and spending on American families, Dominic Pino pulls out the statistics to show that American families are doing great. He writes:

Now, I think Dominic is probably right that this cohort needs less government intervention in the form of subsidy. In fact, in many cases it is government regulation, or Baumol’s cost disease, that is driving these families to their costlier standard of living, pressuring them to earn more and leading to the hothouse feeling of vulnerability that Elizabeth Warren tried to describe in The Two-Income Trap.