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Household Income Declines

The U.S. Census Bureau today announced that the median household income declined in 2011, presenting another challenge to President Obama has he seeks to convince the country that his economic recovery strategy is working and should be given more time.

According to the bureau, the median household income last year was $50,054, a 1.5 percent deline from 2010 and the second annual drop. The figures show that, well into the Obama economic program – and even as the nation has pulled out of recession – salaries are continuing to decline.

What’s more, income levels are now 8.1 percent below the pre-recession levels of 2007 and have even more ground to make up to return income to where it was before the crisis hit.┬áIncome declined last year for both blacks and non-Hispanic whites, while the changes for Asian and Hispanic households were not statistically significant.

Obama is also failing to reduce the poverty rate, the new number show. After three consecutive years of increases, the poverty rate remained the same at 15 percent, with 46.2 million people living in poverty.

The number of people without health insurance coverage declined from 50 million to 48.6 million, a small bit of good news in the data for Obama that the president will surely attribute to the passage of Obamacare.

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11 Responses to Household Income Declines

  1. When you figure in inflation just for food and gas I think it would be closer 15-20% less of disposable income. This administration has done an awesome job waging a war on the middle-class.

  2. Kinda hard for the political ruling class to see outside the bubble & realize there are hard times for most everyone… Our absentee president is too busy campaigning to meet with the leader of our most trusted ally in the middle east.
    I seriously doubt obambo could tell you the price of a loaf of bread..
    Sure wish Romney would take the gloves off & hammer barry hussein :
    1. our country’s S&P downgrade..
    2. barry’s complaining to the russians about Isreal.. to name
    3. barry’s lack of work ethic :no meetings with congressional leaders etc.
    …to name a few

    • Gosh, just wonder if Barry had been attending those boring old intel briefings instead of sleeping in late after those so very important fundraisers with George Clooney and all the other swells. Maybe he would have been a little more clued in to what was really happening out there in the Arab spring. Nah.

  3. Intensity of the economic crisis by country expressed as a value from 0 to 100
    (0 = null level of the crisis 100 = maximum level)
    Orlando Bisegna Index
    For more information visit http://www.orlandobisegna.org/

    1) Greece 39.54
    2) Portugal 31.12
    3) Ireland 29.08
    4) Spain 25.22
    5) Italy 23.68
    6) Argentina 15.72
    7) France 15.45
    8) Japan 15.11
    9) Netherlands 14.79
    10) United Kingdom 14.53
    11) United States 13.19
    12) South Africa 11.37
    13) Canada 11.21
    14) Saudi Arabia 10.85
    15) Brazil 10.63
    16) Germany 10.15
    17) Russia 9.87
    18) Mexico 9.81
    19) Sweden 9.40
    20) Turkey 9.19
    21) South Korea 9.06
    22) Indonesia 8.76
    23) Australia 8.43
    24) India 8.10
    25) China 6.14