Skip to comments.US incomes fall to 1989 levels. How did that happen?
Posted on 09/12/2012 6:44:33 PM PDT by nuconvert
A Census report signals that for much of America, the economic downturn has produced not one lost decade but two. But the data also show that federal safety-net programs helped keep people out of poverty.
The typical US household saw its income fall last year to 1989 levels.
That news, contained in a US Census Bureau survey released Wednesday, points to difficult questions of how the US can get back on a track of job growth and rising prosperity.
(Excerpt) Read more at news.yahoo.com ...
Well, I guess I can now proudly state “I’m Better Off than I was 21 Years Ago!!”
It took a lot of hard work by the Traitor-In-The-White-House.
“..It took a lot of hard work by the Traitor-In-The-White-House...”
You got the title correct. For those that did not know it BEFORE 2008, the events prior to, and during, in Egypt, Libya, etc are proof positive of your description.
1989. That was another year in which a lot of people were fooled by people who weren't quite what they seemed to be.
I don’t think this is what people were talking about when they said they wanted to go back to the Reagan years.
Why did it happen?
Far too much of the following:
According to Marx and Engels the first thing to do to “transform” a country is to destroy the Middle Class. Looks like it’s working.
The question of how the US can get back onto a track of job growth and prosperity might be difficult, but the answer is simple and straight forward. Kick Obama out of office.
Dennis Prager had a good line. The people in power care more about equality than they do prosperity. That everyone being “equal”, even if poor, is more important than the prosperity.
We’re seeing the middle class brought down to a lower level, despite the general impoverishment of society, as good because it is “more equal”.
So, it depends on if one is engaged in producing milk or sucking the teat.
We all need to buy American whenever possible. I am sick of jobs and production moving to China! I believe incomes have been backsliding. Liberals will try to say “not for the richest 1%” but they are the job creators.
Liberal Democrats and RINOs for $100 Alex.
Corrupt and controlling government at every level.
A government that has totally betrayed America.
This is not complex.
Hope for Spare Change
I’m sure I’m not seeing 1989 prices in the grocery store.
Nearly everything goes up except private sector wages.
Been this way for over 10 years now.
Reckless corrupt controlling government at every level is the cause of America’s decline.
Using an inflation calculator the 14500 would be 26000. So inflation isn't THAT bad right now.
Not that bad right now?
Were they offering people equity loans on their cars in 1989?
Adjusted for inflation cars have not really gone up that much. I am surprised too. Plus the 1989 Mustang is not near as good technology wise as a 2012.
Come on. Have ya seen private sector wages? We're talking tens years of late 1980s wages as prices of nearly everything launched.