Household incomes plunged in 2009. For the second year in a row, the number of poor people rose as households with incomes more than $100,000 declined. According to Carol Morello of The Washington Post, "Incomes are down about 4 percent since the recession began in December 2007." The median household income in 2007 was $52,384, while the median income last year was $50,221, which is down $1,500 from the median income in 2008. This isn't rocket science, and clearly there is a corollation between unemployment and household income. If you have no job or lost a job, then you have no income, especially with Congress toying with unemployment benefits. Perhaps if we paid more attention to real-world issues like unemployment and less attention to so-called moral issues tied to political rhetoric, then the numbers would not be so dire. Just a thought.
Read more at The Washington Post.