Tuesday, September 15, 2009
“This Is The First Decade On Record Where Household Income Has Declined”
As Illinois state treasurer of Illinois Alexi Giannoulias notes:
Last week, the Census Bureau's annual report on income, poverty and health insurance, revealed that in the last decade, media household income has actually fallen. The Census Bureau has been monitoring household income for four decades. Not only have we experienced the first decade where median income has failed to rise, but it appears that this is the first decade on record where household income has declined.
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Same data shows the middle class since 1967 thru 2008 has received thru the peroid a 24% pay raise overall. Something that cost $1 in 67 now costs $6.38. Is it any wonder why we had to run up credit cards to keep going. Even when you consider two income earners per family you get to a little over 80K. The blog mybudget360 has shown it takes 50K just to survive (and even that is doubtful) Now there's the reason people are easy to drive into a frenzy , just drag a teabag in front of them and yell "Sic Em" and you have a screaming Town Hall show.
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