It's OK By Me
"President Bush on Monday tried to reassure an edgy public that the economy is 'pretty good' despite the dreary mix of a failing housing market, a national credit crunch and surging energy costs. 'There's definitely some storm clouds and concerns, but the underpinning is good,' Bush said at a Rotary Club meeting, an informal setting chosen to show the president engaged with local communities. 'We'll work our way through this period.'" Bush Says US Economy Is Safe and SoundOK by us, too. Well some of us. NYTimes (12.15.07):
"The increase in incomes of the top 1 percent of Americans from 2003 to 2005 exceeded the total income of the poorest 20 percent of Americans, data in a new report by the Congressional Budget Office shows. The poorest fifth of households had total income of $383.4 billion in 2005, while just the increase in income for the top 1 percent came to $524.8 billion, a figure 37 percent higher." Report Says That the Rich Are Getting Richer Faster, Much Faster"The total income of the top 1.1 million households was $1.8 trillion, or 18.1 percent of the total income of all Americans, up from 14.3 percent of all income in 2003. The total 2005 income of the three million individual Americans at the top was roughly equal to that of the bottom 166 million Americans, analysis of the report showed." So how are you doing? UPDATE: h/t to Kevin Drum for the link to this amazing graph ("an easy way to look at income distribution and how it has changed over the years"). Have you seen the little piggies?
Labels: rich guys