Household Income Drops for the Fourth Straight Year

[Brigid]

This is not good news.

http://www.usatoday.com/money/economy/story/2012-09-11/median-household-income/57757352/1

[The Velveteen Ocelot]

1. It's not quite as bad as the headline sounds:

According to the article, "the median income for all households was reduced slightly because of the aging of the population, a trend that is expected to continue. Seniors make less than those in their prime earning years. That reduced the median income of all American households about $200 in 2011."

In other words, the baby boomers are retiring. It stands to reason that the median household income would be reduced slightly on that account.

And, of course, the 1% are doing better than ever.

[Brigid]

2. This is true.

The article states that this is an imperfect measure of how Americans are faring economically. But I don't think those in their prime earning years are doing that great -- except, of course, for the 1%.