.comment-link {margin-left:.6em;}

Born at the Crest of the Empire

Thursday, February 23, 2006

Are you better off that you were 8 years ago?

It's not just your imagination.
WASHINGTON - The average income of American families, after adjusting for inflation, declined by 2.3 percent in 2004 compared to 2001 while their net worth rose but at a slower pace.

posted by mikevotes at 12:57 PM

4 Comments:

  • Bush says I am so ...It's like the GDP goes up but the standard of living goes down.

    By Blogger Yukkione, at 1:53 PM  

  • It's all about distribution. You give 100 50K family of four $100 and they spend it immediately. You give one rich person $10,000, and it just goes on the pile.

    My point being that the wealth distribution numbers are spreading.

    Mike

    By Blogger mikevotes, at 2:19 PM  

  • I heard on NPR yesterday that inflation news was good after economists determined that it had only increased by .2% in the last month or so. Of course, they didn't count increases in food and energy costs. Just what exactly does their number mean? and how is it good news?

    By Blogger Justin, at 1:19 AM  

  • Yeah, I've always been amazed by that. Economists strip out fuel and food because they're the most volatile elements, and it makes tracking inflation far messier, but to real people, are they able to strip out food and fuel? Good point.

    Mike

    By Blogger mikevotes, at 8:27 AM  

Post a Comment

<< Home