Great news: Middle class sinks to all-time low in 2011

posted at 12:41 pm on September 13, 2012 by Ed Morrissey

Meanwhile, back at the US ranch, the economy is still the biggest issue on the minds of voters, or so we think, anyway.  If so, the middle class got some bad news yesterday from the Census Bureau — they earn a lower percentage of overall income than ever:

The middle class lost ground again last year, falling to an all-time low in their share of how much income they take in, new census data released Wednesday showed.

People with incomes between $20,263 and $62,434 collectively earned less than 24 percent of all income in 2011, even though they made up 40 percent of the population. The dip was part of a long, steady decline dating back to at least the 1960s, when the middle class shared 29 percent of all income.

In contrast, the census data shows, the bottom fifth held its own as the poverty level flattened out, while the top fifth increased its share to half of all income. The top 5 percent gained the most income, rising almost 5 percent in a single year.

“This is a huge drop,” said Tim Smeeding, director of the Institute for Research on Poverty at the University of Wisconsin in Madison. “It’s the working class. Their pay rate has gone down, the number of hours that everyone in the house works has gone down, their homes have lost value. These are the people really ravaged by the recession.”

Now why might that be?  Perhaps this comes from a reluctance of those holding capital to engage in risk-taking ventures, which produce growth and jobs.  Instead of reinvesting their capital and taking losses with the hope that they will earn a significant return on their investment in the long term while they build demand, those holding capital are waiting until demand presents itself before engaging in any risk at all.  That holds down the distribution of capital, retards economic growth, and leads to the decline of the middle class, which depends on risk takers to provide employment.

The only way to reverse this trend is to get capital back into risk-engagement ventures.  However, the current regulatory and tax environment in the US is so opaque and ambiguous that there is no way to rationally estimate costs past the next year for such efforts — and perhaps not even that long as we approach Taxmageddon with no solution in sight.  We need to eliminate the ambiguities, stop trying gimmicky short-term tax tricks, and accomplish real long-term tax and regulatory reform.  Only then will investors be able to price the risk and put capital in play, generating demand rather than waiting for it to materialize, and restart the engines of real economic growth.

Otherwise, we will continue to see weekly jobless claims reports with “unexpected” small increases:

In the week ending September 8, the advance figure for seasonally adjusted initial claims was 382,000, an increase of 15,000 from the previous week’s revised figure of 367,000. The 4-week moving average was 375,000, an increase of 3,250 from the previous week’s revised average of 371,750.

The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending September 1, unchanged from the prior week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending September 1 was 3,283,000, a decrease of 49,000 from the preceding week’s revised level of 3,332,000. The 4-week moving average was 3,316,500, a decrease of 7,500 from the preceding week’s revised average of 3,324,000.

I expected to see a decline in the report, since Labor Day would have shortened the reporting week to four days.  The jump upward may be hiding a slightly worse level of new unemployment, but it’s still all within the now-consistent 360-385K range we’ve seen for over a year.  Still, it got the attention of economists, who were expecting something significantly less, as Reuters reports:

The number of Americans filing new claims for jobless benefits rose more than expected last week, with several states reporting an increase related to Tropical Storm Isaac.

In a separate report, a sharp rise in gasoline costs drove up wholesale prices last month by the most in more than three years. But outside energy and food, price gains were mild. …

A Labor Department official said Tropical Storm Isaac, which drenched parts of the country, accounted for about 9,000 of the claims filed last week. The number is unadjusted.

But even accounting for the storm, the report suggested little improvement in the labor market after job growth slowed sharply in August. The four-week moving average for new claims, a better measure of labor market trends, climbed 3,250 to 375,000, the highest since the middle of July.

The labor market isn’t improving.  It hasn’t been improving at all since the recession ended.  We have added an average of less than 85,000 jobs per month in the private sector for a population that requires 130,000 or more jobs a month just to keep up.  We are falling behind, thanks to the stagnation economics of the Obama administration.  We are literally worse off than we were four years ago, and three years ago at the beginning of the recovery, in both jobs and income.  The middle class squeeze is the inevitable result.

Update: Investors Business Daily says this puts a fork in Obamanomics:

If President Obama had run in 2008 promising to cut family incomes, shove more people into poverty, create greater inequality and make people more dependent on the federal government — and that black Americans would fare worse than everyone else — would he have won that election?

Well, the latest Census Bureau report shows that these are precisely the results Obama has delivered since taking office. ….

You might try to blame these lousy numbers on the recession that started under Bush.

Except for the fact that the recession ended five months after Obama took office, and all these dire results occurred during Obama’s “recovery,” when his policies were in full effect.

Any wonder President Obama wants this to be a “choice” election, rather than a referendum on his record?

Indeed.


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Great news: Middle class sinks to all-time low in 2011

Great! Another Downgrade.

Chip on September 13, 2012 at 12:43 PM

QE3 to the rescue!!!!

FusDoRah on September 13, 2012 at 12:44 PM

Inflation is the only thing growing at a high pace. The misery index is going be en vogue again soon.

MTF on September 13, 2012 at 12:45 PM

Obama is winning his war on the middle class.

tommer74 on September 13, 2012 at 12:45 PM

We must save the Middle Class by destroying the Middle Class!

Nethicus on September 13, 2012 at 12:45 PM

But Bernacke is gonna purchase more bonds now until the economy improves.. Yipee more “stimulus!”

sandee on September 13, 2012 at 12:46 PM

If so, the middle class got some bad news yesterday from the Census Bureau — they earn a lower percentage of overall income than ever

So where is the Left carping about the rich getting richer? They aren’t silent because that would have happened under a Democrat President, would they?

Bitter Clinger on September 13, 2012 at 12:46 PM

If President Obama had run in 2008 promising to cut family incomes, shove more people into poverty, create greater inequality and make people more dependent on the federal government — and that black Americans would fare worse than everyone else — would he have won that election?

He would’ve actually done what he intended to do.

Destroy America and re-build her – his and the Commie way.

OhEssYouCowboys on September 13, 2012 at 12:46 PM

But outside energy and food, price gains were mild. …

Given that energy and food are a large part of the budget of any household this statement is of little encouragement.

chemman on September 13, 2012 at 12:47 PM

Focused like a laser.

a capella on September 13, 2012 at 12:49 PM

Flora, ya beat me to it – QE3, keep doing what hasn’t worked, over, and over, an over again — Stupid Obama.

Schadenfreude on September 13, 2012 at 12:49 PM

Instead of reinvesting their capital and taking losses with the hope that they will earn a significant return on their investment in the long term while they build demand, those holding capital are waiting until demand presents itself before engaging in any risk at all.

Hey, I know: Let’s double the capital gains tax rate, so that investing money becomes even less attractive!

Fabozz on September 13, 2012 at 12:49 PM

IRONY ALERT (your picture/new Fed news).

Fed announces it’s going to keep the Mortgage market from imploding to the tune of 1/2 a TRILLION $$$$$ with no end in sight.

Hope you don’t own a home.

PappyD61 on September 13, 2012 at 12:50 PM

Romney needs to start talking about this.

Punchenko on September 13, 2012 at 12:50 PM

Say hello to QE3

Fed announces new round of bond buying in bid to shore up sluggish economy.

Flora Duh on September 13, 2012 at 12:47 PM

There’s nothing like a blank check when you are trying to force the middle class into dependency:

The Fed said it will buy $40 billion of mortgages per month in an attempt to foster a nascent recovery in the real estate market. The purchases will be open-ended, meaning that they will continue until the Fed is satisifed that economic conditions, primarily in unemployment, improve.

Difficultas_Est_Imperium on September 13, 2012 at 12:50 PM

Say hello to QE3

Fed announces new round of bond buying in bid to shore up sluggish economy.

Flora Duh on September 13, 2012 at 12:47 PM

So, we can also now say hello to $6.00 a gallon gas. I think we’d better get another cord of wood in. A lot of people will be making a choice between heat and food this winter.

Is Ed Bernake one of George Soros’s men?

Portia46 on September 13, 2012 at 12:51 PM

It’s almost like Social Justice means upper and middle class people get poorer or something.

trubble on September 13, 2012 at 12:51 PM

Middle class sinks to all-time low in 2011

…we’re waiting for the MSM to support us…pay our mortgage…fill our gas tank…buy our food…because it takes time and they think we are headed in the right direction or something

KOOLAID2 on September 13, 2012 at 12:51 PM

Flora Duh on September 13, 2012 at 12:47 PM

President Romney is going to have a helluva inflation problem to deal with, when the economy does take off. One of the many land mines the donks have laid for him.

a capella on September 13, 2012 at 12:51 PM

Job situation was just adjusted, “unexpectedly”, by 20,000 more losses.

USG, United States Gypsum, just announced the layoff of 4000 people – bad sign for construction.

Have any of you been at Lows or Home Depot lately? The wind is blowing in there, the employees greet you at every step and are otherwise twidling their thumbs.

Schadenfreude on September 13, 2012 at 12:52 PM

I’m waiting for the sales reports on Vodka.

In Utopia – vodka will ease your happiness.

OhEssYouCowboys on September 13, 2012 at 12:52 PM

Great news: Middle class sinks to all-time low in 2011

This is not a bug, it is a feature. See Cloward-Pivens Strategy. We all belong to the government now, remember? The Fifth Column Treasonous Media wouldn’t lie to us. All is peace and safety thanks to Barack Insane Obama.

SWalker on September 13, 2012 at 12:53 PM

Great news: Middle class sinks to all-time low in 2011

This is not a bug, it is a feature. See Cloward-Pivens Strategy. We all belong to the government now, remember? The Fifth Column Treasonous Media wouldn’t lie to us. All is peace and safety now thanks to Barack Insane Obama.

SWalker on September 13, 2012 at 12:54 PM

Clint Eastwood was right – Obama is the biggest hoax upon the land and the world. Watch the economy and the int’l hellfire in front of your eyes.

Media, suffocate from what you eat, Obama’s sh*t, mistaking it for Beluga caviar. You are the reason the people are so uninformed.

May the devil strike you, most of you, and may you lose your jobs.

The Dept of Truth, er Propaganda, is already staffed by the likes of Axelturd and DWS.

Goebbels laughs is deasd azz off.

Schadenfreude on September 13, 2012 at 12:54 PM

Well, we all know what this means. We need more socialism to spread the wealth to these poor poor souls.

As far as Romney controlling inflation, do not count on it. He will likely do nothing to stop a bubble building that makes his job creation numbers appear promissing, at least, nothing until it pops, then it will be more crony TAPR Capitalism!

Huray for the Obamification of the Republican party.

Only a constitutional Amendment preventing the socialist spending will stop the socilaist spending at this point. Will Romney go big and make that his signature drive for a first term? It would garner my vote.

astonerii on September 13, 2012 at 12:54 PM

the weekly unemployment rate may not take into account the people that gave up looking for work, making the unemployment rate not look as bad as it really is, but i think this really shines the light on where the economy is really at.

jetch on September 13, 2012 at 12:54 PM

Have any of you been at Lows or Home Depot lately? The wind is blowing in there, the employees greet you at every step and are otherwise twidling their thumbs.

Schadenfreude on September 13, 2012 at 12:52 PM

Yup, I live one mile from a HD, and it’s been a ghost town inside for at least the last year.

Difficultas_Est_Imperium on September 13, 2012 at 12:55 PM

The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.

– Vladimir Ilyich Lenin

Obamuh has learned, very well. He knows just what to do.

Utopia is near, everybody. Just hang in there.

OhEssYouCowboys on September 13, 2012 at 12:55 PM

Middle class sinks to all-time low in 2011

Precisely what Obama wants. This is all intentional.

Only fools don’t grasp the intentional destruction by this hoax and charlatan.

He loves the lambs in modern day plantations, just voting for handouts and him.

Schadenfreude on September 13, 2012 at 12:56 PM

These sad job and income numbers describe me and my family rather well. Our income has declined 40% since three years ago, due to the loss of my wife’s job. We survive, but oh how much harder life is than it was.

Oh, and she and I both lost our jobs in Louisiana when the oil moratorium made it impossible for our employer to retain us. I was lucky enough to find employment since. Hopefully, after the crushing regulations of this administration have been removed, she will be able to do so as well.

Just thought I might add my personal story into the statistics.

Warmest regards,
Dr. Urchin

DrUrchin on September 13, 2012 at 12:56 PM

But outside energy and food, price gains were mild. …

Given that energy and food are a large part of the budget of any household this statement is of little encouragement.

chemman on September 13, 2012 at 12:47 PM

They stopped being part of the inflation calculations under Jimmy Carter. After the gas lines and the inflation rate hit double digits. So instead of using the “fluxuating” commodities, they use the “stable” core—like those things we buy very infrequently, like refrigerators—which have remained very steady for 30 years.

Portia46 on September 13, 2012 at 12:57 PM

but, but, but, he says he is fighting for us…so that is good enough for me…back to my I/phone 5 search and time to find me some Birkenstock, u know Winter is a coming…

Sincerely,
Libtard

hillsoftx on September 13, 2012 at 1:01 PM

Rush just reported that Bernake has OK’d the new stimulus.
Called it Obama’s rescue tactic.

Yeah, that’ll help.

Meanwhile, those EEEEVIL rich are killing the middle class.
Singlehandedly.
Yup.

pambi on September 13, 2012 at 1:01 PM

Yes, but Mitt Romney once said something stupid. Also, Boooooosh.

SAZMD on September 13, 2012 at 1:01 PM

Darn President Bush. He just doesn’t care.

pat on September 13, 2012 at 1:02 PM

And Obama is up in the polls? What a sick and sorry testament to the character of the American voting public. We sure have a lot of idiot citizens walking among us. It troubles me deeply to see the character of America sink to such a sorry state. My pride as an American has really taken some hits lately. My hat is off to the military that continues to fight for our country even though it is deteriorating right before our very eyes.

We need a change big time, and I worry the American public is too rotten to see the obvious. What a sorry shame.

saiga on September 13, 2012 at 1:05 PM

Time to pull on that cardigan, Barky, because you ARE Carter now.

Bishop on September 13, 2012 at 1:05 PM

Only a constitutional Amendment preventing the socialist spending will stop the socilaist spending at this point. Will Romney go big and make that his signature drive for a first term? It would garner my vote.

astonerii on September 13, 2012 at 12:54 PM

Straight from Romney’s Policy Plans

Pursue a Balanced Budget Amendment

We also must put controls in place to ensure that we never see a repeat of the explosive spending and borrowing of the past few years. A Balanced Budget Amendment to the Constitution is necessary to ensure that our nation embarks on a path of long-term fiscal discipline, and as president, Mitt Romney will introduce
one in Congress and fight for its passage. A properly constructed amendment would guard against the use of net revenue increases to achieve balance by requiring a super-majority for the passage of any tax hike. And it would include only very limited exceptions, such as for war or national security emergencies. As some economists and political scientists have argued, powerful incentives sometimes motivate our legislators to enact expensive programs that may not be in the long-term interests of their constituents, let alone our society as a whole, once costs are taken into account. But with the public unwilling to support higher taxes, Congress pays for the programs with borrowed funds. There is thus a mismatch between what Congress does to advance its own short-term interests and what is in the national interest. If new programs had to be paid for with taxes, legislators would be exceedingly reluctant to enact them absent widespread consensus that they were worth the cost. A Balanced Budget Amendment to the Constitution would eliminate the incentives that drive Congress to spend ever more money on programs while asking future generations to pay for them.

Let me guess..not good enough for you.

HumpBot Salvation on September 13, 2012 at 1:06 PM

Obama treats the middle class like Lenny treats puppies, er, like Obama treats puppies, too. “Tough.”

Fallon on September 13, 2012 at 1:08 PM

Have any of you been at Lows or Home Depot lately? The wind is blowing in there, the employees greet you at every step and are otherwise twidling their thumbs.

Schadenfreude on September 13, 2012 at 12:52 PM

We lost a Lowes and a Best Buy nearby, and the next closest Lowes is struggling to survive; I’m mobbed by employees the moment I walk in. Too bad because I really like Lowes and the people have always been friendly, but yeah the place is a ghost town now.

Bishop on September 13, 2012 at 1:08 PM

OBAMA: HITS ROCK BOTTOM, THEN GRABS A JACKHAMMER.

Mutnodjmet on September 13, 2012 at 1:11 PM

No question the middle class income report will be spun as the rich taking advantage of the middle class. For the next week, all we’ll hear about is how we’ve GOT to raise taxes on these greedy SOBs in order to save middle class families and middle class jobs. And the obstructionist Republicans like Paul Ryan who consistently vote for tax breaks for the rich.

We’ll pivot back to economy because foreign policy is a hot mess.

Not likely any of this helps Romney.

BKeyser on September 13, 2012 at 1:15 PM

Let me guess..not good enough for you.

HumpBot Salvation on September 13, 2012 at 1:06 PM

Unless he is corned into it, it will not happen. I want Read my Lips level accountability.

If I could, I would ask him on national telvision. Standing with my daughter in my arms. Promise my daughter that you will stop the generational theft this country is commiting. Promise that you will get a constitutional Amendment stopping deficit spending to the states for ratification. Honor your Cut, Cap and Balance pledge you made in the primaries.

If he waffles, screw him. If he can stand tall and say it will be done. Then vote vote vote and promote!

astonerii on September 13, 2012 at 1:16 PM

Obama is predictable… following Alinsky.

Alinsky was … convinced that large-scale socialist transformation would require an alliance between the struggling middle class and the poor. The key to radical social change, Alinsky thought, was to turn the wrath of America’s middle class against large corporations.

The goal is to foment enough public discontent, moral confusion, and outright chaos to spark the social upheaval that Marx, Engels, and Lenin predicted -

faraway on September 13, 2012 at 1:17 PM

Thanks Obama bots.

wargamer6 on September 13, 2012 at 1:19 PM

These sad job and income numbers describe me and my family rather well. Our income has declined 40% since three years ago, due to the loss of my wife’s job. We survive, but oh how much harder life is than it was.

Oh, and she and I both lost our jobs in Louisiana when the oil moratorium made it impossible for our employer to retain us. I was lucky enough to find employment since. Hopefully, after the crushing regulations of this administration have been removed, she will be able to do so as well.

Just thought I might add my personal story into the statistics.

Warmest regards,
Dr. Urchin

DrUrchin on September 13, 2012 at 12:56 PM

God bless you. Hang in there and if you believe in prayer, pray.

My complaint with the Romney campaign and with most conservative commentators is that they concentrate on the macro figures and refer to Obama’s policies as a vague, nonspecific problem. They need to find you and put you in a commercial.

Jobs are not being added because of shutting down off-shore drilling and closing coal powered plants and blocking the pipeline. Businesses are hoarding everything they make in an attempt to stay open after Obamacare hits as well as taxes. Families aren’t making it because the essentials are eating up what income they do have.

It cost $15 to buy the ingredients for peanut butter sandwiches and a glass of milk–without jelly. We’ve closed America’s breadbasket in the Central Valley for a tiny fish and so Californians can have green lawns and farmers are battling gas prices, EPA regulations (and apparently drones), drought and fire. So while the government is putting folks in jail for digging ponds to catch rain water, the disaster is just a few months away.

I do not understand how anyone can support this puppet in the White House. We are living the disaster and watching it unfold in the Middle East, yet half the population believes Sandra Fluck’s sex life is a major issue.

Very scary. Worse even than Jimmy Carter.

Portia46 on September 13, 2012 at 1:19 PM

Meanwhile in China

(Be nice – I might be being forced to link this)

DarkCurrent on September 13, 2012 at 1:19 PM

In a separate report, a sharp rise in gasoline costs drove up wholesale prices last month by the most in more than three years. But outside energy and food, price gains were mild. …

Pish, tosh, who needs gas and food?

Don’t you see, people, this is the key to solving our epidemic of obesity while at the same time spurring Volt sales!

Genius, pure genius. Thank you President Obama!

Lily on September 13, 2012 at 1:25 PM

Of course the economy is bad. Who in their right mind would throw down a huge chunk of their own money to start up or expand when you have no idea what the short term playing field will be. It’s like making rules as you go.

When there are 15 foot waves in the gulf, you stay in port. Any jackass knows that, except for Democrat politicians like Obama.

saiga on September 13, 2012 at 1:25 PM

Yesterday one of our major employers in the county announced they were closing. That is a loss of nearly 600 jobs. A few weeks ago another company announced it was shutting down – a loss of 300 jobs. We have seen many of our significant employers leave over the last 4 years.

This area that was in past decades driven by the textile industry. Most of them are gone resulting in higher than average unemployment. We have always experienced higher than average unemployment, and now we’re losing companies we managed to attract in order to replace the textile business.

The competition for low-paying jobs is fierce. Most of the job postings are for minimum wage positions in food service. I spoke to an acquaintance who works with DSS who quipped that 75% of the county was on Food Stamps. I said she must be joking, and she replied that she was not, that it was true.

Retailers are continuing to close, and managers are reporting record numbers of shoplifting.

And on another cheerful note, I’ve noticed that my neighborhood supermarket has half empty shelves in the meat department. They’re selling cheaper and cheaper cuts of meat, but they’re not selling. So….. the displays are often rather empty.

This is why politicians, the MSM and pundits enrage me. They have no idea what is going on in this country. They behave as if we don’t exist.

Cody1991 on September 13, 2012 at 1:27 PM

astonerii on September 13, 2012 at 1:16 PM

Yep, just as I thought.

HumpBot Salvation on September 13, 2012 at 1:29 PM

Cody1991 on September 13, 2012 at 1:27 PM

Sigh… my post was not well written, but you get my point. The situation is desperate with no end in sight.

Cody1991 on September 13, 2012 at 1:30 PM

Every day the news is bleaker and bleaker…

I wish someone anyone would walk up to Obama and grab his shoulders and shake him awake!

Personally, I’d like to just kick his butt to the curb…

I tried for so long to not want to believe that what is happening wasn’t his plan… I no longer live under that illusion… haven’t for a while now…

Some things just boggle my mind…

Him save the middle class? Pfffttttt… I see skittle coloured Unicorns running around making believe all is well… and we sink lower and lower into the wells of dispair whilst like Nero, Obama fiddles, and America comes to a screeching halt…

Incompetently incompetent…

Scrumpy on September 13, 2012 at 1:33 PM

Welcome back Carter.

Feels like the same disaster is coming our way. I remember the gas lines and the unrest.

Will Americans be smart enough to send O’Carter away in a helicopter to Hawaii on Jan 20, 2013.

Time to choose—America or Obama.

bailey24 on September 13, 2012 at 1:33 PM

Well said Cody… great comment… :-) I can tell it came from your heart and I can feel your frustration…

Scrumpy on September 13, 2012 at 1:37 PM

We lost a Lowes and a Best Buy nearby, and the next closest Lowes is struggling to survive; I’m mobbed by employees the moment I walk in. Too bad because I really like Lowes and the people have always been friendly, but yeah the place is a ghost town now.

Bishop on September 13, 2012 at 1:08 PM

You know what would turn that around for them? A FFL and a good inventory of firearms and ammo for sale.

a capella on September 13, 2012 at 1:39 PM

OT: We stumble and flail with our economy, the ME and other countries are erupting into a firestorm… and it’s not Friday yet.

Scrumpy on September 13, 2012 at 1:41 PM

4-week average on first time claims still stuck around 375K, right in the middle of the 350-400K range. No one will get excited about these numbers until that average moves out of that range. The real news this morning was the Fed finally pulling the trigger on QE3 … low rates through 2015, and the bulls are off and running again with the Dow approaching 13,500 … we’ll see what Ben has to say in his news conference, but so far the markets are applauding …

TouchdownBuddha on September 13, 2012 at 1:44 PM

OT: We stumble and flail with our economy, the ME and other countries are erupting into a firestorm… and it’s not Friday yet.

Scrumpy on September 13, 2012 at 1:41 PM

Oh, yes….. they’re just getting started.

BTW, check out Ace. Lots of flaming skulls today.

Cody1991 on September 13, 2012 at 1:44 PM

Well the line for this is: “This is all due to those obstructionist Republicans”…….

I wonder how much worse it would be if it wasn’t for the obstructionists?

flstc on September 13, 2012 at 1:47 PM

Alinsky was … convinced that large-scale socialist transformation would require an alliance between the struggling middle class and the poor. The key to radical social change, Alinsky thought, was to turn the wrath of America’s middle class against large corporations.

The goal is to foment enough public discontent, moral confusion, and outright chaos to spark the social upheaval that Marx, Engels, and Lenin predicted -

He is a disciple of the 1st Community agitator. As is Hillary.

This should be pasted and retweeted everywhere.

PappyD61 on September 13, 2012 at 1:54 PM

Maybe Barry should just print some more money and “re-distribute” it.

GarandFan on September 13, 2012 at 2:06 PM

It cost $15 to buy the ingredients for peanut butter sandwiches and a glass of milk–without jelly.

Really???

You need to shop at a different grocery store.

Old Fritz on September 13, 2012 at 2:16 PM

Welcome back Carter.

bailey24 on September 13, 2012 at 1:33 PM

Welcome Back, Kotter 1975-1979 (four years)

Welcome Back, Carter 1977–1981 (four years)

Welcome Back, Obama 2009-2013 (four years)

So let it be written. So let it be done.

Fallon on September 13, 2012 at 2:31 PM

The number of Americans filing new claims for jobless benefits rose more than expected last week, with several states reporting an increase related to Tropical Storm Isaac.

*clink*

Axe on September 13, 2012 at 2:37 PM

Well the line for this is: “This is all due to those obstructionist Republicans”…….

I wonder how much worse it would be if it wasn’t for the obstructionists?

flstc on September 13, 2012 at 1:47 PM

This.

I have thanked God many times over the last year and a half for those stubborn Tea Partiers in the House. Without them, I think we’d be over the cliff with complete economic collapse instead of just hanging on by our finger tips.

Portia46 on September 13, 2012 at 2:37 PM

Meanwhile in China…

(Be nice – I might be being forced to link this)

DarkCurrent on September 13, 2012 at 1:19 PM

Perhaps it’s easier for a person to afford really expensive furniture if they opt to skip first buying a house.

Axe on September 13, 2012 at 2:40 PM

Really???

You need to shop at a different grocery store.

Old Fritz on September 13, 2012 at 2:16 PM

Outside Washington, D.C. suburbs: Peanut butter $6 a jar. Bread $4.60 a loaf. Milk $4.30 a gallon.

Those prices are consistent at Food Lion, Giant and Safeway.

Portia46 on September 13, 2012 at 2:44 PM

So the top 5% incomes grow 5% and the author of this article thinks the answer is the Republican themed “more tax cuts”. Okay, so that 5% their income grew this year isnt enough. Their income needs to grow MORE AND MORE AND MORE and then maybe sometimes after they have all of the money they could ever hope for maybe theyll decide to start pis..opps..letting their good fortune “trickle” down on the rest of us.

Lol.

Meanwhile, back on planet earth the rest of us see it as The rich get richer. The poor get poorer.

Romney is not the guy to stop that tide.

Obama/Biden ’12

Politricks on September 13, 2012 at 3:32 PM

Outside Washington, D.C. suburbs: Peanut butter $6 a jar. Bread $4.60 a loaf. Milk $4.30 a gallon.

Those prices are consistent at Food Lion, Giant and Safeway.

Portia46 on September 13, 2012 at 2:44 PM

I feel your pain.

Move to Arizona. Milk price matched at walmart $1.57 a gallon EVERY WEEK.
Eggs price matched at walmart, 99c, every single week.
70% lean hamburger, price matched at walmart, 99c/lb 1/3 months.

Here in NC the price matchable prices are effectively double accross the board. It is not quite as bad as yours. Milk, generic is 3.74 price match 2.99, bread Natures own is 2.89 and peanut butter is about $4.79 for a 27 oz. I can’t stand it without jelly, raspberry to match peanut butter usage 2 jars is about 2.79 a jar.

I feel your pain, I feel your pain.

astonerii on September 13, 2012 at 3:33 PM

Meanwhile, back on planet earth the rest of us see it as The rich get richer. The poor get poorer.

Romney is not the guy to stop that tide.

Obama/Biden ’12

Politricks on September 13, 2012 at 3:32 PM

You do understand what is happening is happening under obama/biden, right? So if Romney won’t stop the tide, who will? omaba/biden? Are you really this dense?

I know, I know….pretty obvious answer….

runawayyyy on September 13, 2012 at 4:09 PM

Politricks on September 13, 2012 at 3:32 PM

May you languish in poverty forever and ever.

tom daschle concerned on September 13, 2012 at 4:11 PM

astonerii on September 13, 2012 at 3:33 PM

Dude, your credibility is completely shot. First you insist that only a Romney pledge to try to get a balanced budget amendment passed will garner your vote, then when it’s pointed out to you that he’s made that very pledge you insist you still won’t vote for him. That happened on this very thread, dummy.

Oh, and let’s not forget this little gem….

People like you should get no vote.

astonerii on October 4, 2011 at 11:58 AM

Thought I’d forgotten about that, didn’t you. You suck, go away.

runawayyyy on September 13, 2012 at 4:12 PM

Middle class sinks to all-time low in 2011

Tell me about it. I’m bouncing from temp job to temp job since getting laid off back in December of last year and it took me 6 months to line up one of those (if nothing else, I got a LOT of practice doing job interviews). All of this in a State (Nebraska) where the employment situation isn’t as bad as it is across the rest of the nation. I probably wont even break $20K this year. The house payment, utilities and medical expenses remain of course.

I deliberately avoid certain family functions now. I may choke the next family member who goes on about how great Obama has been for the nation…

Yakko77 on September 13, 2012 at 4:23 PM

I deliberately avoid certain family functions now. I may choke the next family member who goes on about how great Obama has been for the nation…

Yakko77 on September 13, 2012 at 4:23 PM

I’m going to tell you the same thing I told a co-worker of mine. STOP HIDING FROM YOUR LIBERAL FAMILY MEMBERS. Your situation is the perfect one to illustrate to them how disastrous Obozo’s policies have been for this nation. They expect that we’ll just sit down and be quiet and eat this crap sandwich with a smile on our faces because that’s what our side has been doing for the last 100 years. It’s time to stand up and shout, “NO MORE!!!”

Dominion on September 13, 2012 at 4:58 PM

So the top 5% incomes grow 5% and the author of this article thinks the answer is the Republican themed “more tax cuts”. Okay, so that 5% their income grew this year isnt enough. Their income needs to grow MORE AND MORE AND MORE and then maybe sometimes after they have all of the money they could ever hope for maybe theyll decide to start pis..opps..letting their good fortune “trickle” down on the rest of us.

Lol.

Meanwhile, back on planet earth the rest of us see it as The rich get richer. The poor get poorer.

Romney is not the guy to stop that tide.

Obama/Biden ’12

Politricks on September 13, 2012 at 3:32 PM

Meanwhile America’s Corporate Tax Rate is the Highest Tax Rate in the entire World…..

America’s Regulatory Expenses due to Growth in Regulations up almost 7.5% under Obama….

That’s on top of being the HIGHEST TAXED in AMERICA.

But I suppose your Obama/Biden ’12 could just take money of the “Rich”‘s pockets to pay for more Turtle Underpasses, and Solyndras.

Varchild on September 13, 2012 at 7:03 PM

I sympathize Dr. Urchin. My family is in much the same situation. My husband and I are both among the long term unemployed. I was laid off once, found another job, and then that business closed. My husband worked in military contracting which Obummer has killed, and he cannot seem to accept the fact that he is going to have to go into some another kind of work. We have a special needs child so one of us must be home at all times. We are surviving on my husband’s meager military pay, drawing down our savings, and having to accept money from relatives. I see no hope for things to get any better for us unless Romney wins. We are in the worst financial shape we have ever been in and we have been married 25 years. Even in the early years of our marriage our financial situation was never this bad.

sherrimae on September 14, 2012 at 4:05 PM