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August 23, 2012

Obama Has Raped Median Household Income; Republicans Are Only Possible Mechanism to Shut That Down

He's doing great. Let's give him four more years.

Household income is down sharply since the recession ended three years ago, according to a report released Thursday, providing another sign of the stubborn weakness of the economic recovery.

From June 2009 to June 2012, inflation-adjusted median household income fell 4.8 percent to $50,964, according to a report by Sentier Research, a firm headed by two former Census Bureau executives.

Incomes have dropped more since the beginning of the recovery than they did during the recession itself, when they declined 2.6 percent, according to the report, which analyzed data from the Census Bureau’s Current Population Survey. The recession, the most severe since the Great Depression, lasted from December 2007 to June 2009.

Overall, median income is 7.2 percent below its December 2007 level and 8.1 percent below where it stood in January 2000, which was at $55,470, according to the report.

I read Nate Silver's election analyses and used to give him credit for being a liberal-leaning, but still very scientific and sharp, analyst.

However, he keeps on insisting that the economy is some kind of boon to Obama. A small one, but a positive one nevertheless.

He tried to poke holes in that U of Colorado study that predicted Romney would take 320 EVs.

He just can't seem to grasp that the economy is not "slightly positive for Obama" but in fact strongly negative.

It's amusing to watch him wrestle with this very simple badfact.


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posted by Ace at 06:48 PM

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