Household income drops to lowest point since '96

dkreichen1968

Moderator
Staff member
#1
From The Article:
The median income of U.S. households fell 2.3% in 2010 to the lowest level since 1996 after adjusting for inflation, the Census Bureau reported Tuesday.

The weak economy has driven median household income down for three straight years, to $49,445 in 2010, a total 6.8% decline since the recession began in December 2007. The government says the recession ended in June 2009.

Poor people and minorities were hit hardest. Median income for black households fell 3.6% to $32,206 while white household income dropped 1.3% to $54,620.

Income fell least for the most affluent households — down 1.2% to $180,810 in 2010 for the top 5% of households. Income declines got increasingly large down the income ladder. The bottom fifth of households — those making $20,000 or less in 2010 — saw incomes decline 3.8% after inflation.

"There is a widening of the gap between the extreme top and bottom," said Edward Welniak, chief of income statistics at the Census.

Less money
Median household income in 2010 inflation-adjusted dollars:


Year Income % change
2010 49,445 -2.3%

2009 50,599 -0.7%

2008 50,939 -3.6%

2007 52,823 1.3%

2006 52,124 0.7%

2005 51,739 1.1%

2004 51,174 -0.3%

2003 51,353 -0.1%

2002 51,398 -1.2%

2001 52,005 -2.2%

2000 53,164 -0.2%

Source: Census Bureau

Hard times are forcing people to "double-up" — live with their parents or other family members, said Trudi Renwick, chief of poverty statistics.

The number of households doubling-up grew from 19.7 million in 2007 to 21.8 million in spring 2011, she said. The number of adults ages 25-34 still living with their parents was especially notable, she said.
Read More: Household income drops to lowest point since '96
 

Orrymain

, Blogger: Orry's Orations
#2
Anyone surprised? This whole recovery from the recession thing has been a joke in my eyes. I don't see improvement and from the experiences I hear about from others, I don't hear it either.
 

dave73

DTVUSA Member
#3
Some of my family members that lived thru the depression see this as a depression, & not a recession. I have some family members having to move in with other family members to make ends meet. I have yet to move out, due to my area always being an economically depressed area (NW Indiana relies too heavily on the steel mills & river boat casinos on the lake front). Both my brother & sister have gotten help moving to other areas, while I've been forced to try & do things on my own. It doesn't help that my own mother refuses to live anywhere, but Gary Indiana. She is that stubborn that she refuses to see that her own decision to stay in an economically depressed area is hurting her own son financially. I have family in other parts of the country that are in just as bad, or worse areas than I am. My area is fine if you're retired, but not if need to make a living. The only real jobs are some small low paying manufacturing & lots of retail establishments. For where I work at, it's sad that some Burger King & McDonalds workers earn more money (not by much) than I do working at a plastic bottle manufacturing company.
 

MrPogi

Moderator, , Webmaster of Cache Free TV
Staff member
#4
Are we angry enough yet?

Welcome to the post - 1984 world of double-speak, Dave73.

Why yes, it's a depression, but we can't tell the peasants that. Don't worry, though. Inflation is under control (lie) and unemployment is a bit high at 9%+(lie). (Citations: http://www.shadowstats.com/ for the real figures, not the "official" lies that leave food and gas out of inflation) But we can fix it all by giving away your money, and our children's, to the Chinese to pay our debts so we can give it away to the corporations and executives that caused this mess in the first place.

Yes, I should be happy that I have a job - that's what they tell me. Except that the first entry level, non-union job I had in 1977 provided me with a helluva lot more real income than I make now, with better benefits - which, by the way, my company has cut to the bone. And this is NOT an entry-level job. I should be making 30% more by my estimate, yet I've had no raise in three years.

My wife works there too - merely to pay the insurance and food (and, bless her heart, keep her family in the Philippines from starving in the streets.) Still, money is tight. We live almost paycheck to paycheck. We've done everything right - we built our home so we didn't have to pay PMI, yet now all our equity is gone. We've driven both our cars so long that now that we need to replace them, nobody will give us a dime for them. We waited till we were stable to have our kids, yet now we hardly see them because I work 5am to 3:30pm, and she works 4pm to 2:30 am so we don't have to pay for day care, which we sure as hell can't afford. And they're on their own for college, too. That's become unobtainable for the middle class, too. And lets not even talk about my "Retirement Fund". I'll die working, and they'll still expect me to crawl out of the crypt every day and go to work.

Frankly, I see two ways out of this: A war that nearly destroys the planet, like the last World War did (Have we learned NOTHING???) fought for the express purpose of pulling us out of this depression (followed by a bunch more wars to support the industrial-military complex). That, or a bloody revolution - and Americans are too soft and wussy these days for that. It's easy to see why people feel helpless and hopeless.

And, by the way, did we tell you we want to take away your free TV and sell it to wireless companies so you can pay for THAT, too? Because that will create jobs, somehow. Well perhaps for wealthy executives, but not for you.

I always had planned to retire to a nice third world country. Thanks to corporate Amerika and its crooked politicians, my plan is now so much simpler. Now, I won't have to move to a third world country!

revolution.jpg
¡Viva la Revolución!
 

Fringe Reception

Super Moderator, Chief Content Editor
Staff member
#5
Welcome to the post - 1984 world of double-speak, Dave73.

Why yes, it's a depression, but we can't tell the peasants that. Don't worry, though. Inflation is under control (lie) and unemployment is a bit high at 9%+(lie).
Since the "summer of economic recovery" took place (rather, the 3rd summer) has any reader here purchased GRANULATED SUGAR?

If you paid attention five pound bags are now four pounds and ten pound bags are now eight pounds with no change in their cost. They no longer fill my storage bins and that equals around 20% inflation to me. ---(not reported by the mainstream media)

Four-bar IVORY SOAP bars are now sold as three-bar packs and the cost increased: that means 30% inflation to me. ---(not reported by the mainstream media)

If household staples like sugar and soap have increased dramatically in cost to every American household AND the Obama Administration says there is no inflation of (what's left of) the dollar ... can you believe anything they have been force feeding you since day-one of their radical takeover?

:horse: Jim
 

MrPogi

Moderator, , Webmaster of Cache Free TV
Staff member
#6
Jim, you can get more info on the latest "downsizing" aka "grocery shrink ray" news at Mouse Print* – Sneaky Fine Print

This has been going on for some time. and so has the fake inflation stats given by our government: They altered the way inflation is calculated in the '70s and again in the '90s to decrease the annual social security inflation increases. The biggest changes removed FOOD and GAS from the "official" inflation index because they are considered "volatile" commodities (official lie).
 

Orrymain

, Blogger: Orry's Orations
#7
Everything shrinks. The ice cream containers are smaller than ever for what used to be a half gallon. I notice the "downsizing" with regularity as I shop. The sales are the same sales prices, only the container is less. They aren't fooling me; I can't speak for others. And what of education? Here they want to raise tuition 20% a year for the next few years. College kids would need $100,000 for a 4 year degree. Excuse me? My parents never had that kind of money. Education is now a luxury. Oh, except for the school boards and administrators who continue to get raises. In fact, the university system is seeking pay increases at the same time they are raising the tuition.
 

tvcraze

DTVUSA Member
#8
I don't know if I should be sad or be mad. It's hard to get by nowadays. Yes I can buy food and pay for my bills. But it seems like the buying power of dollar is not that "powerful" anymore. :(
 
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