Bad economy continues to weaken Americans' earning power
The Kansas City Star
Anyone buying gas, groceries or clothes to send kids back to school has sung that old country song “too much month at the end of the money.”
The Census Bureau makes it official: Households took in less in wages with median incomes falling from 2008 to 2011. In the United States people saw a 2.9 percent drop with income slipping from $52,028 in 2008 to $50,502 in 2011.
Blame it on job losses, work hours being reduced, furloughs, pay freezes and painfully low interest earnings on savings. American workers have found themselves clinging to a greased creosole pole.
Not only are they sliding down in their standard of living, but they are picking up a lot of large, painful splinters in the process as they try to hang on to their houses, cars and keep up with maintenance and day-to-day living needs.
People will express in the November elections their frustrations and outrage over the terribly long siege of the bad economy and how it has plundered and looted their wealth, mobility and opportunity. They will pick the candidate for president and other offices who will likely free them from the suffering.
It comes down to austerity or stimulus and which holds the most promise for their future and that of the country.