The current “recovery” rolls on but nothing is really changing—at least for the vast majority of people.
According to the U.S. Census Bureau, the 45.3 million people living at or below the poverty line in 2013, for the third consecutive year, did not represent a statistically significant change from the previous year’s estimate. And median household income in the United States in 2013 was $51,939, not statistically significant from what it was in 2012 ($51,759). This is the second consecutive year that the annual change was not statistically significant.
However, both numbers are significantly different from what they were before the onset of the current crises. Real median household income in 2013 was 8.0 percent lower than in 2007, while the number of people living in poverty has risen 21.5 percent since 2007.
What’s that they say about insanity? Doing the same thing over and over again and expecting different results. . .