Yet, there's no sign the economy will collapse this year.
The Heritage Foundation's Adam Michel said most of the media isn't reporting how spectacular wage growth has been for the lowest income Americans.
"The median worker saw a four percent wage increase over the last year, but the lowest income workers saw over double that in wage growth," said Michel.
He said minority workers saw an even larger wage growth.
"Black female workers, for example, saw an 11 percent wage gain over the last year. That translates to tremendous additional financial wherewithal for all Americans, and that's a pretty incredible story," said Michel.
He said the mainstream media doesn't capture the deregulation and tax cuts that are currently keeping the economy humming.