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http://www.truthdig.com/report/item/lost_decade_lost_generation_20110914/

Posted on Sep 14, 2011

By Richard Reeves

"Soaring Poverty Casts Spotlight on ‘Lost Decade’ ” was the lead headline on Tuesday’s New York Times.

The story, by Sabrina Tavernise, got worse, paragraph by paragraph. More than 46 million Americans were living under the government’s official poverty line. That was the highest number in the 52 years the Census Bureau has recorded such data.

"This is truly a lost decade," said Lawrence Katz, a Harvard economics professor. "We think of America as a place where every generation is doing better, but we’re looking at a period when the median family is in worse shape than it was in the late 1990s."

"Median income fell across all working-age categories," reported Tavernise, "but the sharpest drop was among young working Americans, ages 15 to 24, who experienced a decline of 9 percent."

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Recommend "Richard Reeves" - Lost Decade … Lost Generation? (Email)

Email Article Link

http://www.truthdig.com/report/item/lost_decade_lost_generation_20110914/

Posted on Sep 14, 2011