Numbers

On occasion, speaking as a "statistician", I've observed that Numbers is one of the most unreadable books in the Bible - it is NOT a page-turner; and that G-d was very unhappy with David for conducting a census.

Today's post risks another Biblical reference:

For ye have the poor always with you...
[Matthew 26:11]

Here are some numbers derived from the U.S. Census Bureau's Current Population Survey.

From 1967 to 2006 (last year available), the income of the lowest 20% of American households has increased by about 30%, in constant (2006) dollars.

From 1967 to 2006 (last year available), the income of the 40th percentile of American households has increased by about 25%.

From 1967 to 2006 (last year available), the income of the 60th percentile of American households has increased by about 40%.

From 1967 to 2006 (last year available), the income of the 80th percentile of American households has increased by just under 60%.

From 1967 to 2006 (last year available), the income of the 95th percentile of American households has increased by about 78%.

All of these percentile-groups are better off today (or in 2006!) than they were in 1967... But the upper 5% of quite a bit more better off then the lowest 20%.

There have been two periods in this 40-year span that saw all household income brackets stagnating:

During the Presidency of George H.W. Bush (1989 - 1992; years of negative income growth for all household groups)
and
During the Presidency of George W. Bush (2001-2006: years of negative growth for 20th-, 40th-, and 60th- percentile groups; years of very modest - less than 0.5% - annual growth-rate for 80th- and 95th- percentile groups)

It's hard to look at these numbers and not conclude that the Bushes, father & son, have been a disaster for American households!

Contrast this with the first six years of Clinton's Presidency: all household income groups saw household income increase between 2.0% and 2.6% annually. Over the entire 8 years of Clinton's Presidency, incomes in each group increased at an annual rate of between 1.8% & 2.4%.

Stop the madness!