A new report from the Census Bureau released last week shows that the median income in America is the highest it has been since the Great Recession began toward the end of 2007.
The median household income in 2016 was $59,039, according to the report. While the continued increase in average income can be chalked up to the rise of minimum wages and decreased unemployment numbers, many Americans still rely on government programs to help them reach and sustain their middle class dreams.
The Trump administration's budget plan, called A New Foundation For American Greatness, would cut $1.7 billion dollars from many social service programs including food stamps and Medicaid. Without these programs, it is possible that many of the families still struggling with poverty will not get the help they need to achieve middle class status, which in turn raises the median household income.
Harvard Business School historian Nancy Koehn joined Boston Public Radio Tuesday to discuss the results of this Census Bureau report and how cutting social programs will impact the 40.6 million Americans in poverty.
Click above to hear our interview with Harvard Business School historian Nancy Koehn.