Bush Years Hard on Middle Class

LIBERTY, September 20, 2010 – According to Census Bureau Reports released today, the Bush years from 2000 thru 2008 were hard on the middle class.

During those years as Republicans passed tax cuts for the rich, the median income fell nearly $3,000 dollars per year.

During those same years the poverty rate increased from 11.3 per cent to 13.2 per cent and the number of uninsured in the US increased from 13.7 per cent to 16.7 per cent.

Bill Clinton left the White House in 2000 leaving the Republicans with a balanced budget and the middle class in the US in relatively good shape.

The middle class had a persistent decline in income and living standards as budget deficits passed by Republicans in Congress and supported by President Bush exploded.

It is the spending by the middle class that keeps our economy prospering which is the major difficulty we are currently experiencing since the economic collapse of 2008 where the middle class has lost jobs, lost money in savings and 401 K plans lost money due to reduced home values, lost their health insurance and suffered other similar setbacks.

Bankers tell i-dineout.com that it will take 5 years to work through the problems of the housing crisis caused by the activities of the Wall Street Bankers and get housing back on a stable footing.

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Income, Poverty and Health Insurance Coverage in the US: 1999 to 2009