The Huffington Post states today in an article:
“U.S. Median Annual Wage Falls To $26,364 As Pessimism Reaches 10-Year High
Americans’ wages are falling, perhaps a reason why pessimism about their personal finances is now the lowest it’s been in a decade.
The annual median wage fell in 2010 for the second year in a row to $26,364, a 1.2 percent drop from 2009, and the lowest level since 1999, according to David Cay Johnston at Reuters.
Meanwhile, U.S. households are growing increasingly concerned about their finances with more than 20 percent of adult Americans rating their financial situation as “poor,” a Gallup poll finds. That’s a larger share than the 16 to 19 percent of Americans who viewed their finances as poor during and after the recession. It’s also the highest percentage since 2001, the first year of the survey, according to Gallup.
In some ways, the financial crisis has taken more of a toll on the employed during the recovery. Indeed,Americans’ incomes have fallen more during the recovery than they did during the recession. Incomes dropped 6.7 percent during the recovery between June 2009 and June 2011, compared to a 3.2 percent drop during the recession from December 2007 to June 2009, a study from former Census Bureau officials found.
And it will take some time to get incomes back to where they were before the recession. The U.S. median income has declined 7 percent in the last 10 years and while economists expect incomes to rise over the next decade, it likely won’t be enough to return to pre-recession income levels, the Wall Street Journal reports.
Not everyone is suffering, however. The number of workers making $1 million or more actually rose to nearly 94,000 last year from 78,000 in 2009, according to Reuters.
Still, most employed workers don’t expect much in the near future. Nine out of 10 American workerssay they don’t expect to get a salary increase in the next year that will be enough to compensate for rising food and fuel prices, a June American Pulse survey found. Meanwhile, Gallup’s Basic Necessities Index — a measure of Americans’ access to food, shelter and health care — fell earlier this month to lows on par with recession levels.”
So Mr. Axelrod last night as you were on FOX News and were so busy pointing fingers at Mr. Romney saying he had no plan, what the hell is Mr. Obama’s plan? The same as he’s been doing? Oh, I forgot, he’s going to print more money to stimulate the economy…that’s right, that’s worked so well so far. Now that our dollar is worth so little as it is, if you print even more, perhaps soon it will only be worth about a dime?
Also, if you keep pointing fingers at Mr. Romney, instead of Bush, maybe nobody will notice the shortcomings in Obama’s plans. If Mr. Romney had covered everything in his acceptance speech as you wished a) he would have had to be omniscient and b) his speech would have had to be 10 hours long. I think Mr. Romney will cover all the things you want him to given all the states he will now cover in his campaign trail including what he’ll do concerning Obama’s Afghanistan debacle and his $16 trillion debt. as of tomorrow.
I can’t wait to hear the DNC speeches, especially Clinton’s turn around kissy make nice speech about Obama after he was heard making the comment a few years ago “this guy would have been carrying our bags!”
(C) Evelyn Garone 9/3/12