Household income fell

The Census Bureau reports, Income in the United States: 2022 and Poverty in the United States: 2022 , show that before taxes, median household income declined 2.3% to $74,580 and the poverty rate (11.5%), as measured by the official poverty measure, was not statistically different from 2021…

Real median household income after taxes fell 8.8% to $64,240 from 2021 to 2022 and the poverty rate after taxes as measured by the Supplemental Poverty Measure (SPM) increased 59% to 12.4%.



We read or heard two weeks ago Macy’s announced their credit card holders are maxed out. Just like the rest of the retail CC-provided cards.

We are going in for a crash landing but it won’t be bad. Seriously a demand-side recession is shallow. By mid 2024 new factories should be chugging along.

I am sure that one group of politicians and pundits will make hay out of this ignoring that they were the group of politicians and pundits who killed the program or argued for its demise.