by Ryan Streeter on September 14, 2012. Follow Ryan on Twitter.
The attacks on our embassies in Libya and Egypt, and the surrounding politics, have dominated the news the past few days. So it’s not surprising that a few other big items have slipped by with little notice.
This Pew post on the post-recession “recovery” is one of them.
Obama’s Clintonian teflon coating has kept the constant parade of lousy jobs reports from sticking to him. He’s likely to escape the repercussions of what’s in Pew report, as well, given everything else going on. Pew writes:
In the two years since the end of the recession, median household income has fallen by 4.1%.
The decrease in household income from 2009 to 2011 almost exactly equaled the decrease in income in the two years of the recession. During the Great Recession, the median U.S. household income (in 2011 dollars) dropped from $54,489 in 2007 to $52,195 in 2009, a loss of 4.2%. By this yardstick, the recovery from the Great Recession is bypassing the nation’s households.
This breaks with the historical pattern of recovery after recessions. This chart sums it up:
Obama may blame his predecessor for the recession, but that -4.1% number is a 2009-2011 figure, clearly on his watch. He’s getting enough of an assist from the media on this, however, that no one will likely notice, or care, in any way that affects the presidential race.