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The past decade was the worst for the U.S. economy in modern times, a sharp reversal from a long period of prosperity that is leading economists and policymakers to fundamentally rethink the underpinnings of the nation's growth.
As a result, it's no surprise that the middle class took it on the chin.
Middle-income households made less in 2008, when adjusted for inflation, than they did in 1999 -- and the number is sure to have declined further during a difficult 2009. The Aughts were the first decade of falling median incomes since figures were first compiled in the 1960s.
Not only that but stocks/IRAs/retirement plans also had a lost decade... home prices had a lost decade... the only thing growing are companies and the poor receiving more money than ever from our government....
Bush and his war of agression has done its part to destroy this country. The Arabs have lured the idiot bush into a war thay wanted. To wear down the US, just as the indians lured the Fetterman expidition to its death so to the Bush idiot has run into its doom. Bush is a very stupid man who give all that the rich buddies asked for and more. How stupid are those people living in mobile homes or crap homes that support this fool just so they feel safe keeping a shot gun and a bible in their bedroom. Stupid people believing in stupid myths. If they really believed then they would want the end of the world to come and have the invisible man in the sky save them like the book of myth [bible] says. LMFAO
Its amazing to see people who disparage religion so much because of hate... I wonder if they look in the mirror lately... why would they care so much about someone else's religion? Its also amazing that they think "war" was the only factor that led to this, perhaps they have long-term memory problems...
Bush and his war of agression has done its part to destroy this country. The Arabs have lured the idiot bush into a war thay wanted. To wear down the US, just as the indians lured the Fetterman expidition to its death so to the Bush idiot has run into its doom. Bush is a very stupid man who give all that the rich buddies asked for and more. How stupid are those people living in mobile homes or crap homes that support this fool just so they feel safe keeping a shot gun and a bible in their bedroom. Stupid people believing in stupid myths. If they really believed then they would want the end of the world to come and have the invisible man in the sky save them like the book of myth [bible] says. LMFAO
If you disliked Bush's policies, you must be beside yourself with the Obama team and Democrat led congress.
The present myth seems to be government as saviour.
The past decade was the worst for the U.S. economy in modern times, a sharp reversal from a long period of prosperity that is leading economists and policymakers to fundamentally rethink the underpinnings of the nation's growth.
As a result, it's no surprise that the middle class took it on the chin.
Middle-income households made less in 2008, when adjusted for inflation, than they did in 1999 -- and the number is sure to have declined further during a difficult 2009. The Aughts were the first decade of falling median incomes since figures were first compiled in the 1960s.
That's hard to believe overall, but it's certainly understandable when you factor in the last two or three years. Keep in mind that we also had to go through 9/11 during that time, so that didn't help, either. Fortunately, I live in a state where there hasn't been that much decline (not that everything we had had escaped it), so we were lucky in a lot of ways. Will America make a comeback this coming decade? I hope so, but it won't happen under our current administration.
Between inflation and the "jobless" recovery yes I can believe it. People living high off debt don't notice when their paycheck isn't enough until that easy debt is gone like now.
Savings in the negative territory as well all those years.
How does one have a jobless recovery ? And we think we can do it again with this recession ?
this graph sums it up rather dramatically. the accompanying table shows the drop in employment from 1999 until now. a better picture emerges when you consider the employment-population ratio. This statistic measures how many people 16 and older have a job. And when you look at that number, it is very shocking what is going on in our nation.
That is one scary graph floridasandy. That number of 58% is as scary as the 47% that don't pay income taxes.
This next decade will be telling, very telling on which way America goes.
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