Inspector: As always, great info!
You made me think about buying power. If I'm making 3 times as much per hour today as I made 10 years ago, my immediate response is "yippee". But if the cost of what I buy is 5 times as much as it was 10 years ago, I'm losing.
So let's look at Consumer Price Index plus a few other sources for our expenditures.
First problem with Consumer Price Index is that it only covers urban areas. (According to US census, 20% or 1/5 of all Americans live in established "rural" areas. Bureau of Labor info does not address them in any way. I would argue this is statistically significant.)
Same problem with the wage stats.
But let's take the wage stats as gospel, just for argument's sake. Since they're adjusted to 1982 dollars, we'll do the same with the Consumer Price Index. (See
ftp://ftp.bls.gov/pub/special.requests/cpi/cpiai.txt for Consumer Price Index figures since 1913; see
http://data.bls.gov/servlet/SurveyOutputServlet for income figures)
Average wage in Jan., 1982/all workers: $7.88
Average wage in Jan., 2004/all workers: $8.27
Percentage Increase: Approx 5%
Consumer Price Index, 1982: 94.3 (As a percentage of 1982-1984 figs.)
Consumer Price Index, 2004: 185.2 (As a percentage of 1982-1984 figs.)
Percentage Increase: 197%
In short, according to these stats coming directly from the US government, hourly income for the average American has increased 5% in the last 20 years or so, while the cost of the primary items they buy has almost doubled.
So, either our economy is fucked, or our government reports are. And the sad thing is, I'm not confident in saying which is the case.
All I know is that nobody I talk to is saving more than they were, as a percentage of their income, as they were during the Clinton years. How about you?
Re: Who am I voting for? Kerry by default. I'm a Howard Dean man, myself. But bottom line, it's anybody but Bush. And I'm an ex-republican who never thought he'd vote democrat, but the neocon faction has turned the party into a facist front. What we need is a real 3rd party... and a 4th, and 5th. But until that can be translated into real power -- ala the Canadian system -- it's only a win or lose proposition, and the stakes are too high this time around to play with my sentimental vote: Ralph Nader.
Speaking of Nader, did anyone see Bill Mahr's show on HBO with Michael Moore, Bush's campaign director, and Ralph?
That show and the John Stewart's Daily Show are reason enough to pay for cable.