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!

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.