That's median income, folks. Despite the fact that the economy has been growing at a slow but consistent rate, median income has been dropping in nearly every state, in some cases, quite dramatically -- in excess of 10% (!) in five states. Obviously, there has been a tremendous looting of the great majority of Americans by the ultra rich, who not only have absorbed all that economic growth for themselves, but are actually *taking away* the small gains made since the early seventies. Indeed, we have heard for years that incomes have barely risen since then, but now it seems quite likely that under Bush, we have seen an absolute income drop, returning to the levels of the 1960s.

I suspect that many readers of this blog are professionals, who regard steadily increasing income as a given. Can you imagine if you had to take a 10% income cut? This is stark, terribly bad economic news: most of America is effectively living through an economic depression.