The Obama economy has grown slowly, and it's no coincidence

The national economy achieved something last month which, though positive, is nevertheless melancholy. Sentier Research reports that the median household income finally climbed back to what it was when the Great Recession began.

To be precise, the median income of $56,746 was $32 higher in November 2015 than what it was in December 2007. (We hope that during the Christmas holiday you didn't spend the difference all in one place.)

It is good to see that number reach its old level, but it is disappointing that this milestone has taken so long to pass. A one-time event that rocked global financial markets just before President Obama took office has turned into nearly a decade of lost wage growth.

Why has the recovery, which began in June 2009, been such a sad, slow slog for workers?