Economic Recovery??? The results of the Bush Boom

[Viking12]

Despite the fact that 2004 represented the third full year of economic recovery, the Census data released today (8/30/05) show that poverty increased again last year and median income failed to rise. The new data are particularly troubling for workers, showing backward movement for American workers on several fronts<1>:

Real median earnings of full-time year-round male workers fell by nearly $1,000 (from $41,761 to $40,798), a decline of 2.3 percent.

Real median earnings of full-time year-round female workers fell by over $300, or 1 percent (from $31,550 to $31,223), marking the second consecutive year of decline. This is the first time since 1995 that the median earnings of full-time year-round female workers have dropped for two years in a row.

Real median income among the working-age population — households headed by adults under 65 — fell by $600 (from $51,559 to $50,923), a decline of 1.2 percent. (Overall median income for all households was unchanged.)

The number of people who work but live in poverty increased by 563,000. The poverty rate increased among this group from 5.8 percent to 6.1 percent.

Among people age 18 to 64 who work, the number who were uninsured climbed by 772,000, and the percentage without insurance rose from 18.6 percent to 19.0 percent.

The percentage of people with employer-based health insurance coverage fell below 60 percent — to 59.8 percent — for the first time since 1993.

more

http://www.cbpp.org/8-30-05pov.htm

[sinkingfeeling]

1. The economy is on the march! It's all the liberal media's fault that

you just don't hear about all the good things that are happening. We must stay the course!! Freedom and terra!

[FloridaPat]

2. You're one of those people that look at the glass half empty. There

are lots of good things going on. Corporate profits are way up. CEO incomes are way up. Corporate profits for defense contractors are out of sight. Plus they have the added benefit that they are offshore companies and since they are making billions in Iraq, they don't even have to pay taxes on that! Housing prices in Washington DC are growing like crazy. Tons of new jobs to in Washington working for the government. Life is very good for the upper upper upper class folks. And high priced funders of the repub party.

[Viking12]

3. Yeah, I guess you're right.

Why should I care about 95% of the population when the top 5% are doing great. How shortsighted of me. :eyes:

[A Simple Game]

4. There now, wasn't that good Koolaid? n/t

[Viking12]

5. yummmmm...

tastes like chicken :toast:

[Hugin]

6. But, wait there's *more* good news!

Aren't jobless recoveries grand?

:eyes:

[FloridaPat]

8. Here's a question - we know there are a least 500,000 jobs gone

in NO and that many now unemployed. Will they adjust the unemployment figures for seasonal changes?

[RaleighNCDUer]

7. I read this and have to ask

what, exactly, does 'recovery' mean? Is recovery measured only by corporate wealth? That seems to be the only sector that is improving.

[FloridaPat]

9. Seems to be. And the stock market is up to 4 year highs - but not

by much. Unemployment keeps dropping because the number of people unemployed for long periods of time (like me) aren't counted. The job market has barely - if at all - kept up with an expanding population. So where did all the unemployed go?

Right now my Dad is paying all the bills. He lives with me but he had more to do with the SS and pension then pay my bills.

[trekbiker]

10. its the "Walmart'ing" of America...

losing good paying jobs and gaining shit jobs