Falling behind

[Omaha Steve]

http://www.stltoday.com/stltoday/news/stories.nsf/editorialcommentary/story/829001F6636EF38F8625734E008395C6?OpenDocument

Falling behind

09/07/2007

New numbers from the U.S. Census Bureau say that the nation's median income for households rose in 2006 for the second year in a row. But the median income for individual men and women actually declined, after adjusting for inflation.

That indicates that household income went up because more members of households are taking jobs or taking second jobs or working longer hours. And even the household numbers are considerably lower than they were in 2000.

The numbers suggest, in other words, that ordinary families are working harder and producing more but getting a shrinking share of America's prosperity.

Median household income marks the middle class. Half of all households earn less than the median, and half earn more. Adjusted for inflation, median household income rose seven-tenths of a percentage point last year to $48,201. That's still $1,043 below its peak in 1999, inflation adjusted.

Median earnings of individual full-time workers, meanwhile, continued to fall last year — by $482 for men and $388 for women, inflation adjusted. Compared with the median figures for 1999, men last year were earning $2,353 less, women $1,335 less.

Looking at those numbers, you'd think the nation had gone through a terrible recession. Actually, the economy has seen fairly healthy growth for six years. Gross domestic product is up 14 percent since 2000.


FULL article at link.

[bronxiteforever]

1. Great article but ultimately sad K & recommend

best and scary quote

"The wealthiest 20 percent of Americans now earn as much as everyone else combined. The top 5 percent now take in 20 percent of the nation's income."

Bush's base has done very well. The American dream is on life support.