Household income drops to lowest point since '96 obamas problem (unemployment, illegal)

[Miborn]

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 annual report also said the number of families living in poverty rose 2.6 million to 46.2 million, the largest increase since Census began keeping track 52 years ago. Long-term unemployment has left millions of people out of work and struggling to find jobs.
"It's all about joblessness," said Timothy Smeeding, director of the Institute for the Research of Poverty at the University of Wisconsin. "Young guys don't have work, and poverty would be even higher if so many 25- to 34-year-olds weren't living at home with their parents."



Household income drops to lowest point since '96

[emilybh]

Originally Posted by Miborn

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 annual report also said the number of families living in poverty rose 2.6 million to 46.2 million, the largest increase since Census began keeping track 52 years ago. Long-term unemployment has left millions of people out of work and struggling to find jobs.
"It's all about joblessness," said Timothy Smeeding, director of the Institute for the Research of Poverty at the University of Wisconsin. "Young guys don't have work, and poverty would be even higher if so many 25- to 34-year-olds weren't living at home with their parents."



Household income drops to lowest point since '96

Of course when they adjust for inflation all they look at is housing. They don't look at the vastly reduced purchasing power of the dollar and the stratospheric rise of food and energy prices.

I'd say , in reality, it is comparable to the "Great Depression" considering, at least THEY had FREEDOM. THEY could plant a garden anywhere in their yard and not be hassled. THEY had mostly organic food. THEY had their "depression" when the Constitution was more in tact.

Their costs of living was geared towards one breadwinner being able to pay for EVERYTHING not like it is today where you need 2 just to scrape by.

[texdav]

Its really a result of wealth sharing prograqms started in teh mid 60's. When you have more dependent that inlarges the lower income class and widen the income gap. if not stopped it will be the elite and others.

[lifelongMOgal]

Originally Posted by texdav

Its really a result of wealth sharing prograqms started in teh mid 60's. When you have more dependent that inlarges the lower income class and widen the income gap. if not stopped it will be the elite and others.

That is generally the model for Marxist regimes. Obama has quickened the arrival time at the gates Socialism and the destruction of the Republic.

[malamute]

Obama just created a new work visa for illegals. In spite of millions of Americans out of work, Obama is doing all he can to encourage illegals to come here. He's owed by the cheap labor lobby.