Be sure to look at the (3) charts below.
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This is the latest data we have and we should spend some time on the above chart. 20 percent of American households make more than $100,000 per year. The median income is $52,029. In other words over 56,500,000 households make due with $52,029 or less per year. This is the average American consumer and also helps to explain why things are still in a troubled state. I put together a budget before for someone making the median income and given the updated income figure, things haven’t changed much.
Keep in mind the above data reflects the 2008 year. A troubled year no doubt, but we have yet to factor in the increased unemployment brought about in 2009. This data will be reflected in September of 2010 and we already know that incomes are going to fall yet again. With 27,000,000 Americans unemployed or underemployed, we know the recession is deep and pervasive. But what is usually missed, is even the employed in those 56.5 million households are struggling with rising costs of healthcare and education. Housing costs may be going down but not because of a healthy economy. What we are seeing is debt destruction.
http://www.mybudget360.com/how-565-million-households-live-52000-median-household-income-in-2009-crushed-by-a-decade-of-debt-a-decade-of-lost-wages-and-financial-debt-servitude/
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