A Decade With No Income Gains
The typical American household made less money last year than the typical household made a full decade ago.
To me, that’s the big news from the Census Bureau’s annual report on income, poverty and health insurance, which was released this morning. Median household fell to $50,303 last year, from $52,163 in 2007. In 1998, median income was $51,295. All these numbers are adjusted for inflation.
Progress!
America, Crap, Economy, Embarrassing, Money
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There’s an easy way to not pay the bonuses, there is good legal footing to deny them. What is lacking is political will. Let’s help those spineless twerps in DC out.
I should note that there are rumors that if the bonuses aren’t paid, the managers (or the French, it’s unclear) will declare a default event and trigger hundreds of billions of dollars more to come due. To which I say to the AIG management: bullshit. Go ahead and try it and take your economic terrorism elsewhere. Go Galt on us, please, you worthless shitbags.
Team Obama needs to get out in front of this. It’s a position so easy to spot that even Bill Kristol can see it, and if Obama doesn’t deny the bonuses, then they just gave the GOP a 300 pound birthday cake. With balloons.
Corrupt, Economy, Politics
