Saturday, January 2, 2010

Well, this should come as no surprise...

Neil Irwin of the Washington Post (link is to the Columbus Dispatch) confirms what we all know -- workers and families went backward economically since 2000. Here is one telling quotation from the article:

“This was the first business cycle where a working age household ended up worse at the end of it than the beginning, and this in spite of substantial growth in productivity, which should have been able to improve everyone’s well being,” said Lawrence Mishel, president of the Economic Policy Institute, a liberal think tank.

Another expert attributes it to "macroeconomic mismanagement." I wouldn't expect the liberal Washington Post to call it what it really is -- a calculated theft of resources from those who earn the money to those who simply play with it.

Of course this is not all new...

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