A reality check on the US economy

This economic recovery is the weakest on record. Yes, the jobs sector is growing but at a much slower pace than when Jimmy Carter was president. From June 1980 through June 1981, the US economy added over three million jobs and average real employee compensation grew. That’s nearly three hundred thousand jobs a month that [...]

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30 Year Home Mortgage Rates Drop to Record Low-But What Does That Mean?

Thirty year home mortgage rates have plummeted to their lowest rate ever, to 3.87 percent. This shows how weak demand in the home market is, as well as how weak the demand for goods and services is. This is a reflection of how badly the United States government has redistributed income and wealth from working [...]

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The Middle Class Squeeze is a Middle Class Nightmare

The middle class is under siege because your government has been hijacked by the rich and corporations. See the article below for the full story. Click here for the The Middle Class Squeeze

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Time for Reality–Income distribution is Determined by Political Power

by John Hively The United States rates 75th in the world in terms of income inequality. That means a tiny minority receive a huge portion of all the income earned in the United States. Back in 1979, the top one percent received about 7% of the total income generated in the USA. Nowadays, that slice [...]

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Can America Survive Without Its Shrinking Middle Class? What is Happening to It?

My friend J grew up in Chicago, but spent his summers in a small town on a Michigan lake. His family, because they came from the city and because they were “summer” visitors, were slightly more privileged than those who lived in the town. Nevertheless, the town considered itself “middle class” and the children observed [...]

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Top 1% Saw their incomes rise 275% during the last 28 years

The top 1 percent of earners in the United States saw their average household incomes grow a whopping 279 percent from 1979 to 2007, according to a Congressional Budget Office (CBO) study (PDF) published this week. For the lowest earners, what the CBO described as the poorest fifth of America, average incomes grew just 18 [...]

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Middle Class Income Down in 2009–Thank you George W Bush and the Republicans

From Reuter’s U.S. incomes plummeted again in 2009, with total income down 15.2 percent in real terms since 2007, new tax data showed on Wednesday. The data showed an alarming drop in the number of taxpayers reporting any earnings from a job — down by nearly 4.2 million from 2007 — meaning every 33rd household [...]

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Gross Domestic Product Grew at 5.7 Percent Annual Rate–Can It Be Sustained?

In a good sign for the economy, and a bad sign for the hopes and dreams of Republicans, the economy grew at an annual rate of 5.7 percent. Historically, that is fairly average coming out of a recession, but it is better than negative growth. This suggests the stimulus plan of President Obama is working. [...]

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