Last year Ed Balls wrote:

The answer back in 1980 was no — and his Democrat opponent Jimmy Carter was thrown out of the White House after just one term of office.

Thirty-five years on, it’s clear that Reagan’s famous question will be centre-stage in next year’s general election. Every previous British prime minister in my lifetime has always been able to answer it in the affirmative. But David Cameron is currently set to buck that trend…’

Today the IFS announce:

“Average household incomes have just about regained their pre-recession levels. They are finally rising and probably will be higher in 2015 than they were in 2010, and possibly higher than their 2009 peak.”

Are you better off than you were four years ago? Yes, probably.