Listening to lies about the economy

CNN had extensive coverage of Biden banging the drum for a depression, and the sooner the better. Yes, he actually was doing that even when the August 2008 report read thusly:

Real median household income in the United States climbed 1.3 percent between 2006 and 2007, reaching $50,233, according to a report released today by the U.S. Census Bureau. This is the third annual increase in real median household income.

Meanwhile, the nation’s official poverty rate in 2007 was 12.5 percent, not statistically different from 2006. There were 37.3 million people in poverty in 2007, up from 36.5 million in 2006. The number of people without health insurance coverage declined from 47 million (15.8 percent) in 2006 to 45.7 million (15.3 percent) in 2007.

However, I went in an looked at the 2007 Census report and was charmed to see what I realized my last few years of working. We were in a recession in 1999 and 2000; then the 9/11 attacks took place in 2001, we went to war, and although the economy struggled, Bush took on the burst bubble from Clinton, as the next president will take on this burst bubble. (U.S. Census Bureau, Current Population Survey, 1968 to 2008 Annual Social and Economic Supplements., p. 5)

Household income is going to continue to go down, Mr. McCain and Mr. Obama--hello! Have you heard? Baby Boomers are retiring! They certainly aren't poor, but they aren't living on salaries, but on investments, that item Obama wants to tax more (i.e., the rich). They aren't buying high end consumer goods; they aren't buying new houses; they don't need new clothes and new cars. I bought my van in 2002, I love it, and see no reason to trade. My income (a pension check) is about 1/3 of my (fabulous) salary. They're taking money out of the country and spending it in Europe and Asia.

And we continue to import poor people to flood our social services at the bottom. Neither McCain nor Obama have a plan to stop a huge economic and social problem created by bad legislation in the 1960s when socialist brain surgeons decided the country was too white and too European.

Change? Hope? You bet. And you'd better hope someone is paying attention to demographics, or you'll be as famous as FDR following Hoover, dragging us down, and down and down for a full decade.