HOT BLAST: Americans losing financial ground
Sep 18, 2013 | 1010 views |  0 comments | 19 19 recommendations | email to a friend | print

Neil Erwin writes on the Census Bureau's latest update on U.S. poverty. He notes:

[T]he most depressing result comes when you look at the longer view of household incomes in the United States. This chart shows real median household income over the past 25 years; that is, the money earned, in inflation-adjusted dollars, by the family at the exact middle of the income distribution. ... 

In 1989, the median American household made $51,681 in current dollars (the 2012 number, again, was $51,017). That means that 24 years ago, a middle class American family was making more than the a middle class family was making one year ago. 

This isn't a lost decade for economic gains for Americans. It is a lost generation.

What, the most obvious question follows, will our elected representatives in Washington do about it? 

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