SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: Kenneth E. Phillipps7/18/2007 9:09:13 AM
   of 173976
 
So how is the American economy doing?

The Bush administration proudly boasts that the median household income grew in 2005 - by 1.1 percent, to be exact - something that hasn't happened since 1999. But this figure includes senior citizens, most of whom derive a significant portion of their income from Social Security payments. Once the 2.8 percent income growth of elderly Americans is removed, the change in median income for working-age households is negative - as it has been in every year of the Bush era.

As Economic Policy Institute analysts Jared Bernstein and Elise Gould reported last year, for the five-year period from 2000 to 2005, inflation-adjusted household incomes dropped 2.7 percent for all households but declined 5.4 percent for non-elderly households.

When households feel the squeeze, bill collectors don't just disappear. So it should be no surprise that debt in America continues its steady rise.

In 1975, household debt was 44 percent of the gross domestic product and 61 percent of disposable income; as of last year, it was 96 percent of GDP and 134 percent of disposable income. According to the Federal Reserve Board's triennial Survey of Consumer Finances - for which the Fed is again collecting data this year - between 2001 and 2004, the debt of a typical American family increased by a third.

baltimoresun.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News