YOUNG families are better educated than ever before, but they are earning lower real incomes.
The Federal Reserve Board’s newly released 2013 Survey of Consumer Finances indicates that the median family headed by someone under 35 years of age earned $35,509 in 2013 dollars. Adjusted for inflation, that is 6 percent less than similar families reported in the first such survey, in 1989.
... The largest declines have come since the 2007 survey — the last one in which participants discussed their income in a year before the Great Recession began.
The following survey covered income earned during the recession, and it was not easy to know how much of the falloff was a cyclical phenomenon that would disappear when the economy recovered.
But the newest survey covered income in 2012, three years after the recession ended, and shows that most of the lost ground has not been recovered.
In fact, the real median income for all of the age groups except those in the 35-to-44 group declined from 2010 to 2013.REPEAT: MOST OF THE DECLINE HS OCCURRED AFTER THE RECESSION AND ONLY SINCE OBAMA'S POLICIES HAVE TAKEN HOLD.
IN OTHER WORDS: OBAMA'S POLICIES ARE WRECKING THE MIDDLE CLASS AND DESTROYING THE AMERICAN DREAM.
WE CAN STOP THE DECLINE IN NOVEMBER.
IN FACT; IT'S NOVEMBER OR NEVER.
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