Maybe you saw the report showing that the net worth of the average American family is down almost 40%. It’s down to the levels we had during the Original Bush Administration (oh, and Happy 88th Birthday to him).
Now, of course that’s partly because home prices are down to where they were a decade ago. But it’s also because unemployment is still over 8%. And even for those who are employed, last year inflation adjusted income is roughly what it was in 1968. And we’ve still got discouraged workers and the underemployed.
The nicest thing I can say is that at least household debt is going down. Of course, it’s going down for the bad reasons — like ditching the house that will never be worth what it sold for 5 years ago.
It is still the economy, “stupid.”
In Closing: how is this different than the Bush Administration, exactly?; has anything really changed about the Vatican since Alexander VI?; at least violent crime is down; the impossible dream; now I have really no reason to watch mainstream news unless it’s local; the disappearing phone booth; and illiteracy.