- Median income for those under 65 fell again in 2005 and is now $2,000 lower in real (inflation-adjusted) dollars than in 2001. That's a 3.7 percent cut.
- The poverty rate is higher today (12.6 percent) than in 2001 (11.7 percent).
- Health Insurance coverage is lower. The number and percentage of people without health insurance was much higher at the start of 2006 than in 2001.
So who is recovering?
A second CBPP white paper released Thursday has a positive ID on that.
- In the first half of 2006 the piece of the pie going to corporate profits was bigger than at any time since 1950, having grown under Bush at twice the average rate of other recoveries.
- The share going to wages and salaries was at its lowest level on record (77 years).
- Hourly private nonsupervisory wage earners (four out of five of us) made less now than when the "recovery" began in 2001 in real (inflation-adjusted) terms. This came in spite of productivity numbers growing faster than in all but one of the previous recoveries. This blows up the official line that productivity gets translated directly into wage gains.
The economy is not stronger, but much weaker.
Prediction Tuesday says any more of this kind of "recovery" and we'll all be dead. For our scare story on what happens if we borrow too much see scare story post. And for our early warning about when a recovery is not a recovery, see "A Jobless Recovery is not a Recovery," Parts 1, 2, and 3.