Thursday, October 2, 2014

Paul Craig Roberts: Poverty Report Contradicts GDP Claims

http://www.paulcraigroberts.org/2014/10/02/poverty-report-contradicts-gdp-claims-paul-craig-roberts/

The US Census Bureau’s 2013 Income and Poverty Report concludes that in 2013 real median household income was 8 percent below the amount in 2007, the year prior to the 2008 recession and has declined to the level in 1994, two decades ago! http://www.census.gov/content/dam/Census/library/publications/2014/demo/p60-249.pdf Even though real household income has not regained the pre-recession level and has declined to the level 20 years ago, the government and financial press claim that the economy has been in recovery since June 2009.

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