New
Federal Reserve report
The yearly income of a typical US
household dropped by a massive 12 percent, or $6,400, in the six years between
2007 and 2013. This is just one of the findings of the 2013 Federal Reserve
Survey of Consumer Finances released Thursday, which documents a sharp decline
in working class living standards and a further concentration of wealth in the
hands of the rich and the super-rich.
The report makes clear that the drop
in a typical household’s income was not merely the result of what is referred
to as the 2008 recession, which officially lasted only 18 months, through June
2009. Much of the decline in workers’ incomes occurred during the so-called
“economic recovery” presided over by the Obama administration.
In the three years between 2010 and
2013, the annual income of a typical household actually fell by 5 percent.
Comments
This trend paints a bleak picture as multiple
federal government actions act in concert to decimate the US consumer.
Obamacare limits the work week to 29 hours. Bad trade agreements have resulted
in off-shoring US jobs. Excessive immigration policies are directly responsible
for systemic unemployment. Excessive federal spending on UN Agenda 21
implementation via grants to states adds $1 trillion a year to the national
debt.
The rats are leaving the sinking ship. I
think DC wants to switch from an income tax to a national sales tax, because
they have no confidence that our incomes will ever stop going down.
Norb Leahy, Dunwoody GA Tea Party Leader
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