Today’s focus is on these numbers from a recent US Federal Census report.
A Census Bureau report released on Tuesday reveals that the typical American family now earns less than it did in 1989. In 1989, median household income was $51,681 (in current dollars). In 2012, median household income was $51,017.
Poverty levels in 2012 also climbed to 46.5 million Americans–15% of the country–from 46.2 million in 2011. As Washington Post economics writer Neil Irwin put it, “This isn’t a lost decade for economic gains for Americans. It is a lost generation.”
That’s right. This is the direction our Dear Leader is taking us. He has prosperity stuck in reverse and is determined to stay the course.
The last Recession ended in mid-2009, but we are still waiting for the recovery that typically follows the end of a recession.