Tuesday, December 9, 2008

Perhaps now it will all become clear

When the Bush administration and numerous supporters found time to focus on things other than pursuing needless wars, placing political hacks into positions they were not vaguely qualified for and various ways to expand presidential fiat at the expense of civil liberties, they often complained about how Bush was not getting enough credit for the supposedly burgeoning economy.

For all the economic growth which took place during the Bush year's according to various economic measures, people consistently reported that, on the whole, they were dissatisfied with their lot. The Bushies never seemed to figure out why, even though economists such as Paul Krugman repeatedly explained to them all that extra money was either going to corporations or being amassed in the hands of a very limited few, and not, in fact, "trickling down" the the citizenry as a whole.

Today, the Associated Press had an article laying out the numbers about as clearly as they can be presented, comparing data from 3 million households a year in the years 2005-2007 to data collected during the 2000 census. The key findings in the article:

* Median household income dropped in 79 percent of the cities and towns. Incomes dropped in the wealthiest communities as well as the poorest. Charleston, Ill., home to Eastern Illinois University, saw the biggest drop - 31 percent - to a median household income of just under $21,000.

* Nationally, incomes dropped by 4.3 percent during the period, to $50,007.

*The poverty rate increased in 70 percent of the cities and towns. Athens, Ohio, home to Ohio University, had the highest poverty rate, at 52.3 percent, in the 2005-2007 period.

Nationally, the poverty rate increased from 12.4 percent to 13.3 percent since the start of the decade.

* The unemployment rate increased in 71 percent of the cities and towns. Muskegon, Mich., a city of about 40,000 near Lake Michigan, had the highest unemployment rate, at 22.1 percent.

Nationally, the unemployment rate increased from about 4 percent in 2000 to 6.6 percent in the 2005-2007 period.

* Median home values increased in 92 percent of the cities and towns studied - doubling and tripling in many cities, mainly in California. Nationally, the median home value increased 26 percent, to $181,800.


Let's see ... lower incomes, higher unmployment, greater poverty ... no, I can't possibly see why people would think the great Bush economy wasn't helping them. Of course, all those negatives were offset by large gains in home values.

How's that working out?

No comments: