Median Income Dropping. Bad News For Non Millionaires.
Posted in H.L. News, Main Blog (All Posts) on June 17th, 2007 8:27 am by HL
The end of the American dream?
BBC
Excerpt:
After growing at more than 3% a year in 2004 and 2005, the pace picked up to a blistering 5.6% annual rate in the first quarter of this year – although the pace has since then slipped back to 2.9%.
So far, though, little of that growth has translated into the hands of the average worker, according to new research from the Economic Policy Institute (EPI).
For real household incomes, the median point – the level at which half of households earn more and half less – has actually fallen over the past five years.
That marks a notable contrast with the 1990s, when the economic boom boosted both jobs and incomes.
The puzzle of economic expansion without significant job or wage growth has been troubling US economists and commentators of all political persuasions.
HL’s Take:
The reason is simple, Bill Clinton cared about helping the people, Bush only cares about helping HIS people
June 17th, 2007 at 10:51 pm
HL, you’re stretching it there with the Bill Clinton comment. Clinton didn’t care so much about people as you say. What he did to Serbia is similar to what Bush has done to Iraq, Afghanistan and Palestine. The difference may be that the Bush crime family was elitist where Clinton was not.