US median income lowest since 1995

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PapaG

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It would be even lower if not for the Obama recovery. :sigh:

http://www.thefiscaltimes.com/Artic...e-Falls-to-Lowest-Point-Since-1995.aspx#page1

By YUVAL ROSENBERG, The Fiscal Times
September 12, 2012

In the aftermath of the Great Recession, household income dropped once again in 2011 while the poverty level stayed flat after three straight years of increases, the Census Bureau said Wednesday. Median household incomes adjusted for inflation fell 1.5 percent to $50,054. That’s 8.1 percent lower than it had been in 2007, the year before the recession, and almost 9 percent lower than the peak income level reached in 1999. The last time median household income was lower was 1995 – meaning it’s been a lost decade and a half for Americans looking to get ahead.

The gross domestic product has gone from $7.4 trillion to $15.1 trillion in current-dollar terms over that time, suggesting that families have fallen behind even as the economy has expanded.

Read more at http://www.thefiscaltimes.com/Artic...est-Point-Since-1995.aspx#bRiYJjIMr7oU647K.99
 
QE3 will save us all. Well, until we need QE4.
 
Lets all forget what Bush and the Republicans did to this country and put 100% blame on Obama.

I have to think real hard to find the last Republican President to not damage this country in more ways than one.

Hmm.....
 
Let's also remember that Obama failed to focus on job creation in his administration. But yeah, blaming Bush is so much easier.
 
Eisenhower, maybe?

You only have to go back a half-century to find a decent republican president.
 
Let's also remember that Obama failed to focus on job creation in his administration. But yeah, blaming Bush is so much easier.

I didn't realize each administration starts from a clean slate. What Bush/Republicans left Obama to "fix" is impossible.

Well, maybe Hank Williams Jr. could fix this. :lol:
 
I didn't realize each administration starts from a clean slate. What Bush/Republicans left Obama to "fix" is impossible.

Well, maybe Hank Williams Jr. could fix this.

again, Obama failed to make job creation and the economy his #1 priority. But there we go with "impossible to fix" again. So might as well just rack up more debt without doing anything.
 
again, Obama failed to make job creation and the economy his #1 priority. But there we go with "impossible to fix" again. So might as well just rack up more debt without doing anything.

If it's impossible to fix, we may as well elect the guy who hasn't added $7 trillion to the US debt, and given us $1 trillion yearly deficits, in three years of being in office.

A budget that his own party would pass would be nice, too.

But it's Bush's fault...
 
You can't polish a turd.

The Bush/Republican consequences of that administration will linger for years.
 
You know, I think we're still feeling the effects of the John Q Adams administration. fuckers.
 
You know, I think we're still feeling the effects of the John Q Adams administration. fuckers.

According to Obama, our economic system hasn't worked for over 200 years, and needs to be changed right now, with government getting more control over who gets money, and being able to decide where money should be redistributed. So, it's really is George's fault.

Washington, not Bush.
 
Knowing what their party did to this country and how badly Bush fucked up this country, kinda odd that they didn't invite these people to their convention:

*George W. Bush and most of his staff.
*Their last vice presidential candidate, Mrs. Palin.

But keep drinking that kool-aid. I'm not going to stop you.
 
Knowing what their party did to this country and how badly Bush fucked up this country, kinda odd that they didn't invite:

*George W. Bush and most of his staff.
*Their last vice presidential candidate, Mrs. Palin.

But keep drinking that kool-aid. I'm not going to stop you.

Well, they are quite unpopular. I mean is this all you can come up with. "the guy before fucked it up, but I can't defend my guy at all so I'll just say Bush and Palin until the economy is better".

and I'm the one drinking the Kool Aid.
 
PS.

OBAMA IS A MUSLIM!!

Btw, did anyone convert to Islam since he was elected? The tea-party warned the country of this.
 
Knowing what their party did to this country and how badly Bush fucked up this country, kinda odd that they didn't invite these people to their convention:

*George W. Bush and most of his staff.
*Their last vice presidential candidate, Mrs. Palin.

But keep drinking that kool-aid. I'm not going to stop you.

I must have missed Al Gore, Joe Lieberman, and John Edwards speaking at the DNC?
 
PS.

OBAMA IS A MUSLIM!!

Btw, did anyone convert to Islam since he was elected? The tea-party warned the country of this.

Lowest common denominator.

Either "Bush's fault" will work for Obama, or it won't. If it does, he wins. If it doesn't, then I actually have some semblance of respect for the average American voter.

Obama didn't once include the GOP in meetings while discussing his failed "Stimulus" plan. "I won", remember? Now Obama still cries about Bush.

What a pussy. Man up and accept some responsibility for your own failures.
 
Well, they are quite unpopular. I mean is this all you can come up with. "the guy before fucked it up, but I can't defend my guy at all so I'll just say Bush and Palin until the economy is better".

and I'm the one drinking the Kool Aid.

You're conveniently sliding what the republicans and Bush did to this country under the rug.

You'd certainly have a point had Obama started from a clean slate. :lol:
 
You're conveniently sliding what the republicans and Bush did to this country under the rug.

You'd certainly have a point had Obama started from a clean slate. :lol:

I'm not sliding anything under anything. I'm stating that Obama's #1 priority was not job creation and the economy so this news shouldn't be shocking nor the lack of progress.
 
Explain to me how you'd create jobs with what Bush/Republicans left you?

I'd love to see how.

Maybe more tax cuts for millionaires, trickle-down effect? Yeah!

Or maybe start a euthanasia program for the elderly since they are such a drag with their health care?
 
Well, I would make job creation my #1 priority. That's more than Obama has done.

I don't believe the government should be creating jobs or stimulating the economy, it has to be done on its own with as little intervention as possible. You do that by lowering the barriers to create a business, build a factory, etc.
 
The crash was on the horizon when he took office. It was unavoidable. Creating jobs with that isn't possible regardless if it were a "#1 priority"
 
The crash was on the horizon when he took office. It was unavoidable. Creating jobs with that isn't possible regardless if it were a "#1 priority"

So you'll give him a free pass because he didn't do anything? So he could have jerked off in the bathroom for 4 years and you'd still vote for him.

great.
 
The crash was on the horizon when he took office. It was unavoidable. Creating jobs with that isn't possible regardless if it were a "#1 priority"

the crash is still on the horizon. sorry to be the breaker of bad news. the US economy is basically in a HUGE bubble right now, it will pop when we stop relying on FED stimulus or raise interest rates. basically what home buyers were doing with Interest only ARMs, the US government is doing with everything.
 
I don't think this is about Bush anymore. The economy is struggling and although I won't pretend to understand how much the president can effect the economy, I will say you got to look at the top and put it on him (it goes with the job).

To me, this comes down to Obama, who I am not excited about and Romney, who i just can't see myself voting for. I may be completely wrong but Romney looks he is cut right from the good old boy's club. If I was an upper class white mormon male, I think I could relate with Romney, but as it stands I feel like I got nothing in common with him and he could give a rat's ass about my life.

So go Obama?
 
What exactly did Bush do to the country? He ran up less debt in 8 years than Obama in 3, so that can't be it. The wars? The economy didn't tank for 5 years of those, and it's not like it got steadily worse for those 5 years.

Seems like W saved us from the Dot Bomb bubble bursting, which cost main street $7.1T in wealth, compared to the ~$5T in wealth lost to the housing bubble bursting. We managed to spend many $billions on NYC and other things in the aftermath of 9/11, and we didn't slide into back into recession after that devastating hit to the heart of our financial center. I suppose you could blame him for Katrina - that cost us $200B.

But you know what? I remember things were going far better than I expected they would at the time of the 2000 election.

Until 2006, when you know who took over the house and senate.

In fact, there's the common theme with those republican presidents you named. All had Democratic Party congresses. And if you think the republicans were obstructionist toward Obama's agenda, those other congresses were equally so toward the republicans.

But hey, Democratic Party congress with Carter and 2 years of Clinton, too. And those were debacles. Same for Obama - he's claiming credit for a lot of job growth since the house went republican, go figure.

I'm not at all happy with much of what Bush did. He spent a lot more than he should. He grew government (gasp!) faster than inflation dictated it should.
 
What exactly did Bush do to the country? He ran up less debt in 8 years than Obama in 3, so that can't be it. The wars? The economy didn't tank for 5 years of those, and it's not like it got steadily worse for those 5 years.

Seems like W saved us from the Dot Bomb bubble bursting, which cost main street $7.1T in wealth, compared to the ~$5T in wealth lost to the housing bubble bursting. We managed to spend many $billions on NYC and other things in the aftermath of 9/11, and we didn't slide into back into recession after that devastating hit to the heart of our financial center. I suppose you could blame him for Katrina - that cost us $200B.

But you know what? I remember things were going far better than I expected they would at the time of the 2000 election.

Until 2006, when you know who took over the house and senate.

In fact, there's the common theme with those republican presidents you named. All had Democratic Party congresses. And if you think the republicans were obstructionist toward Obama's agenda, those other congresses were equally so toward the republicans.

But hey, Democratic Party congress with Carter and 2 years of Clinton, too. And those were debacles. Same for Obama - he's claiming credit for a lot of job growth since the house went republican, go figure.

I'm not at all happy with much of what Bush did. He spent a lot more than he should. He grew government (gasp!) faster than inflation dictated it should.

Bush saved the airline industry, too. With a $15B bailout, bankruptcy proceedings for American Airlines, etc. And he kept Boeing from going under, too.

The stock market crashed, as well.

DJIA_during_911.svg
 
Bush saved the airline industry, too. With a $15B bailout, bankruptcy proceedings for American Airlines, etc. And he kept Boeing from going under, too.

The stock market crashed, as well.

DJIA_during_911.svg

I don't know where you are going with all this. Bush Jr. was a terrible president both domestically and especially with foreign affairs.
 

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