median household income is at the highest level ever recorded as of 2019, and just posted the largest year-over-year increase at 6.8% from 2018 to 2019. Purchasing power for Americans is rising to unprecedented levels... Almost 20% of the U.S. economy is medical services, which is about as backward and inefficient as an industry can be. Virtually no one – not even your doctor – knows what the true cost or true quality of medical services are. People entering emergency rooms are not told anything about prices or services, and then three weeks later, they get outrageous out-of- network bills... It’s called surprise billing.
All of this is on the cusp of changing. Medical transparency, eliminating surprise billing, and true competition are the wave of the future. I can’t wait to see a competitive future medical market. Not only are Americans able to buy more with their dollar, but the products and services we purchase are making our lives much more efficient. Take, for example, the telephone... I can remember rotary phones and needing an operator to reach the party I wanted to call. Now, we have smartphones with speed-dial, Siri, Alexa, and video-calling. We basically have a computer in the palm of our hands. We can search for almost anything we’d like in a matter of seconds. Information which was once contained in the archives of old libraries is now publicly available and ready to be scoured.
Purchasing power for Americans is rising to unprecedented levels...
Real Median Household Income
Sources: Census Bureau
1960 2020 1964 1968 1972 1976 1980 1984 1988 1992 1996 2000 2004 2008 2012 2016
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