Recovery may be underway, but most American families aren’t feeling the love. The recent census report shows that despite (extremely slow) increases in national GDP and employment, inflation-adjusted household income—an indicator with far more impact on the lives of most Americans—has been dropping since 2009. As the New York Times notes, median household income is now 8.1 percent below its level in 2007.Obama has spent the past two years trying to make the case that his policies have made Americans better off. Reports like this one and last month’s abysmal jobs report don’t make that case any easier to make.
American Families Not Feeling the Recovery