Moving in the wrong economic direction

Last year, before the election of our new terrorist/communist President, 81% of Americans thought we were on the wrong track. What the f*$# were those other 19% smokin?

On every major measurement, the Census Bureau report shows that the country lost ground during Bush’s two terms. While Bush was in office, the median household income declined, poverty increased, childhood poverty increased even more, and the number of Americans without health insurance spiked. By contrast, the country’s condition improved on each of those measures during Bill Clinton’s two terms, often substantially. (@ The Atlantic)

So, aside from the clearly disastrous wars, we had good reason to think things were turning to crap.

But don’t worry too much, if you can survive a few more years with no job security or health care you might just enjoy some good times:

The incomes of the young and middle-aged — especially men — have fallen off a cliff since 2000, leaving many age groups poorer than they were even in the 1970s, a USA TODAY analysis of new Census data found.

People 54 or younger are losing ground financially at an unprecedented rate in this recession, widening a gap between young and old that had been expanding for years.

While the young have lost ground, older people have grown more prosperous over the years and the decades. Older women have done best of all.

The dividing line between those getting richer or poorer: the year 1955. If you were born before that, you’re part of a generation enjoying a four-decade run of historic income growth. Every generation after that is now sinking economically.

2 Comments

  1. Ian

    I get it now. Obama is implementing the death panels to get rid of the baby boomers thus ensuring that the money trickles back down. Obama and Reagan, visionaries.

  2. Chris

    That is pretty genius. It could solve our overpopulation, health care, environmental and fiscal problems all at once.