Income Declined More During “Recovery” Than Recession

[ScreamingEagle]

According, to a new study reported by the Washington Post, median household income has actually dropped more precipitously since the end of the recession than during the actual recession.

"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.

Overall, median income is 7.2 percent below its December 2007 level and 8.1 percent below where it stood in January 2000, when it was $55,470, according to the report."

This is what a Keynesian recovery looks like. For the purpose of achieving politically-motivated short-term gains with stimulus and other government interventions, Obama has created long-term stagnation.

Income Declined More During “Recovery” Than Recession | Madison Project

Household income is below recession levels, report says - The Washington Post

 

[eflatminor]

This is what a Keynesian recovery looks like.

Indeed.

Worth a read:

BARNES & NOBLE | Where Keynes Went Wrong: And Why World Governments Keep Creating Inflation, Bubbles, and Busts by Hunter Lewis, Axios Press | Paperback

 

[ScreamingEagle]

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.


Over the past three years.....

the inflation-adjusted median income of households headed by whites was down 5.2 percent, to $56,255.

Households headed by blacks sustained a staggering 11.1 percent drop in median income.

Hispanic-led households saw their real income decline by 4.1 percent over the same period, the report said.

Households led by the self-employed saw their income drop 9.4 percent, to $66,752, the report said.

Households headed by private-sector employees saw wages drop by 4.5 percent, to $63,800

households led by government workers saw median income decline by 3.5 percent, to $77,998, the report said.

 

[francoHFW]

Great meltdown/Depression/9% retraction., Pubs. Way to go. And the mindless obstruction makes this YOUR recovery. Pub dupes.

Austerity recoveries do worse than stimulus ones- see Sweden. This is a recovery without any jobs bills the GOP loves when the black Dem isn't in the WH. Assume the position, a-holes.

 

[SniperFire]

I would call Obama an abject failure, but that would be insulting to total losers everywhere.

 

[ScreamingEagle]

Great meltdown/Depression/9% retraction., Pubs. Way to go. And the mindless obstruction makes this YOUR recovery. Pub dupes.

Austerity recoveries do worse than stimulus ones- see Sweden. This is a recovery without any jobs bills the GOP loves when the black Dem isn't in the WH. Assume the position, a-holes.

"mindless obstruction"......?

you must mean the do-nothing Democrat Senate.....

These 32 job creating measures have been passed by the House and are awaiting action in the Democrat-controlled Senate.
The House Republican Plan for America's Job Creators - GOP.gov

 

[asaratis]

Great meltdown/Depression/9% retraction., Pubs. Way to go. And the mindless obstruction makes this YOUR recovery. Pub dupes.

Austerity recoveries do worse than stimulus ones- see Sweden. This is a recovery without any jobs bills the GOP loves when the black Dem isn't in the WH. Assume the position, a-holes.

"mindless obstruction"......?

you must mean the do-nothing Democrat Senate.....

These 32 job creating measures have been passed by the House and are awaiting action in the Democrat-controlled Senate.
The House Republican Plan for America's Job Creators - GOP.gov

The liberals are wearing blinders and will not admit that Harry Reid is sitting on perfectly good bills just because they were written by Republicans.

Liberalism is a mental disorder.