Great GOP economic policy news - Average American Family Income Declines

[devilgrrl]

Average American Family Income Declines

By MARTIN CRUTSINGER, AP Economics Writer
Thu Feb 23, 9:57 AM ET

The average income of American families, after adjusting for inflation, declined by 2.3 percent in 2004 compared to 2001 while their net worth rose but at a slower pace.

The Federal Reserve reported Thursday that the drop in inflation-adjusted incomes left the average family income at $70,700 in 2004. The median, or point where half the families earned more and half less, did rise slightly in 2004 after adjusting for inflation to $43,200, up 1.6 percent from the 2001 level.

The median, or midpoint for net worth rose by 1.5 percent to $93,100 from 2001 to 2004. That growth was far below the 10.3 percent gain in median net worth from 1998 to 2001, a period when the stock market reached record highs before starting to decline in early 2000.

more: http://news.yahoo.com/s/ap/20060223/ap_on_bi_ge/family_finances;_ylt=AjuOtx5ab.MOyh7idtT0sAys0NUE;_ylu=X3oDMTA3b2NibDltBHNlYwM3MTY-

[datadiva]

1. Hey, my average family income

is $50 grand short.

[BurgherHoldtheLies]

2. To see it more graphically, here's what it looks like as a chart:

http://thinkprogress.org/2006/02/23/incomes-are-down/

[devilgrrl]

3. Thank you for posting that!

Very useful info! :-) If not depressing. :-(

[BurgherHoldtheLies]

4. Even more depressing in chart form...I've been emailing that chart today

and reminding people that these are the robber baron/rapturist right Republicans so, "Darling, you really aren't rich enough to vote Republican".