Data: So-Called ‘Recovery’ Worse for Household Income Than Recession
If this data is sufficiently aired and discussed before the American electorate, we will be attending and watching Mitt Romney’s inauguration in January:
Household income is down sharply since the recession ended three years ago, according to a report released Thursday, providing another sign of the stubborn weakness of the economic recovery.
From June 2009 to June 2012, inflation-adjusted median household income fell 4.8 percent, to $50,964, according to a report by Sentier Research, a firm headed by two former Census Bureau officials.
Incomes have dropped more since the beginning of the recovery than they did during the recession itself, when they declined 2.6 percent, according to the report, which analyzed data from the Census Bureau’s Current Population Survey. The recession, the most severe since the Great Depression, lasted from December 2007 to June 2009.
Obama approached our economic woes and gave it his best shot; his approach has failed. Another four years of his leadership guarantees another four years of similar results.
Need hope? Change presidents.