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Big Income Losses for Those Near Retirement
By CATHERINE RAMPELL
7:24 p.m. | Updated with additional details.

Americans nearing retirement age have suffered disproportionately after the financial crisis: along with the declining value of their homes, which were intended to cushion their final years, their incomes have fallen sharply.......................>>>>....................>>>>.................http://economix.blogs.nytimes.com/2012/08/23/big-income-losses-for-those-near-retirement/?hp

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Across the country, in almost every demographic, Americans earn less today than they did in June 2009, when the recovery technically started. As of June, the median household income for all Americans was $50,964, or 4.8 percent lower than its level three years earlier, when the inflation-adjusted median income was $53,508.

Some on this blog think it's still Bush's fault I guess.

Naive sheeps.

The Bush Recession started in 2007. It continued to this day but the recovery started shortly after Obama
took office.  Jobs started improving in April 2009.


The Gross National Debt as a % of GDP...
The graph depicts what happened under Reagan/Bush and how the economy improved under Clinton, then
the debt skyrocketed under GWB to the present.
The Green line shows what would have happened if Reagan & the Bush's had followed Bill Clinton's balanced
budget policy.
Obama is left solving the debt from the 12 years of Reagan/Bush and the 8 years of GWB.


It's pretty clear where the blame fall for America's disastrous economy.  The Tax cuts for the Rich and
the bogus 'trickle down' policies of the Republicans.  

C'mon box, the campaign slogan is FOWARD.  You aren't following your leaders orders by looking BACKWARD.  

Quoted from Box A Rox

It's pretty clear where the blame fall for America's disastrous economy.  The Tax cuts for the Rich and
the bogus 'trickle down' policies of the Republicans.  

Lol...Box failing at civics again.  The President proposes budgets and Congress passes budgets.  You of all people should know that, Obama has proposed one budget and it was shot down 96-0.  His whole first term there hasn't been a budget, how exactly is Obama allegedly balancing the budget without passing one?  

Most folks who are at retirement age are still working and will continue to work just to survive and keep their heads above water. And since it is the largest retiring group in history............this sad set of circumstances will keep jobs from opening up for the younger generation.