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Politics : A US National Health Care System?
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To: TimF who wrote (10395)10/13/2009 3:00:25 PM
From: Road Walker  Read Replies (1) of 42652
 
median household income in 2008 fell

I agree with Lane's response - "That's not the same as standard of living. That's also a short trendline."

I'd add that for the very short trend line standard of living has gone down, it generally does that in a recession, but over a longer period its gone up.

Well the article actually said (as I pointed out to Lane) that the trend is from 2000 (or before):

"Adjusted for inflation, median household income in 2008 fell to $50,303, which was 4% below its 2000 level and continued a downward trend that had been accelerating for some time.
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If people pay more for higher quality goods then the measured GDP is higher.

Or if people pay more for the same (gasoline) or lower quality goods that is measured in GDP but does not increase standard of living. Many companies are shirking package sizes rather than raising prices, for instance.
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