Well, no crap! The reason for this is simple, Americans are earning less and less each year. The median household income over the last 30 years hasn't kept pace with the economic output of this country.
The Reagan-style free economy is not great for most Americans, eventually. Bubbles and credit expansion can only hide the truth only for so long.
Even by then, was it difficult to see through the rosy numbers? Why does this graph have no political impact?
Your right numbers do not lie. Here it comes though the formula to calculate each catagory can be analyzed to show the either reason or in my mind a scewd affects on data for both GDP and median income. What is GDP?(GDP = C + G + I + NX)C" is equal to all private consumption, or consumer spending, in a nation's economy
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"I" is the sum of all the country's businesses spending on capital
"NX" is the nation's total net exports, calculated as total exports minus total imports. (NX = Exports - Imports)
You can see C,G and NX are probably out of balance.
We have become a nation of comsumers, with almost unlimited credit. It got worse as years went on from a cash society to credit. Part of the reason for this credit bubble. Government spends more than it takes in. And well the trade inbalance is obvious.
Median income without analyzing it is deceiving too. The top culprit could be the watering down of the workforce by illegal immigrants(undocumented workers)and the growing inner city High school drop out rate, affects private and public sector the same. Illegals probably balance out the achievers at the top to make the median seem stagnat. Another could be technologies affect on efficiency, healthcare costs, and lastly if we dont produce it here and buy it from China, well there goes a job and adds consumption.
And as far as the top earners growing, as the saying goes " You cant make money without money" The whole class envy issue only bothers people if they let it.
I'm not argueing that wages were not stagnant to a point, but standard of living is up. There has to be a balance though. Stop the moving of jobs out of USA and bring some of the immigrants into the workforce legally.
Until I see some true change I can believe in, I'm retiring my opinions for awhile. In summary the culture of corruption has returned, or as I know never went away. The very 2006 platform Pelosi and Reed ran on to win the house and senate back is squarely in the Democrats lap. Tax cheats everywhere, questionable appointements everywhere(VAN JONES) just one of them , investigations(Vivek Kundra), zcars that answer to only the King BO, military planes for Pelosi's use, you name it this is Washington at it's worst. Targeting private citizens cause they want him(policies)to fail. No dinner, No joint press conf. and a gift of DVD's for Britain's Prime Minister. Teleprompters at most speaking engagements. That should be labeled as, he's stupid and who's telling him what to say(the Bush treatment). This is just scratching the surface. This is embarrasing and I'm not alone. I know policies should be the issue, but character and perception is what he got elected on, and neither impress me at all.
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