Think You're Poorer? Guess What? You Are

The starkest measure of economc policiess in the income of American homes - and using that metric, we really messed up.

For the first time since the 1930s, the average American home has less money than it did ten years ago. The median income is now $50,303 versus $51,295in 1998 and $52,163 last year.

The annual report from the Census Bureau has all the information, with some really good summations from the New York Times. While there are a number of factors involved in this drop in income, one fact jumps out more than any other - the rich are getting richer.

In the past 40 years, the richest 90 percent of all American homes saw their median income rise 33 percent. The richest half of American families saw a24 percent increase. The top 10 percent? A whopping 63 percent! Is this a case of money growing exponentially, or is it just greed?

Unfortunately, the trends in heath care didn't make anyone richer (except the insurers and pharma companies). The number of people on employer-based on private coerage fell, while the number of ininsured and government healthcare recipuents grew. The former number is easy to understand - fewer people and companies can afford insurance - but the latter number could be explained as people qualifying for Medicaid, or more baby boomer aging into Medicare

Either way, those of you who don't believe the government should be involved in health care - even, ironically, those who actually receive ir - are in for a BIG disappointment. We're getting poorer, health care costs more, something has to be done.