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FSN: Things Are Getting Worse: Median Household Income Has Fallen 4 Years In A Row

Thursday, September 13, 2012 3:31

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from The Economic Collapse Blog

New numbers that have just been released show that things are getting worse for American families. According to the U.S. Census Bureau, median household income declined to $50,054 in 2011. That is a 1.5 percent decline from the previous year, and median household income has now fallen for 4 years in a row. In fact, after adjusting for inflation median household income has not been this low since 1995. These new numbers once again confirm what so many of us have been talking about for so long – American families are steadily getting poorer. Incomes are going down and the cost of living just keeps going up. This dynamic is squeezing more Americans out of the middle class every single month. Others just keep going into more debt in an attempt to maintain their previous lifestyles. As Americans, we really don’t like to hear that things are getting worse and that we are in decline, but unfortunately that is exactly what is happening. Our economy does not produce nearly enough jobs for everyone anymore, the proportion of low wage jobs in our economy continues to grow, and the middle class is shrinking at an alarming rate. Our politicians can deliver speeches about how great we all are until the cows come home, but it isn’t going to change the reality of our situation. If we want different results we have got to start taking different actions.