Monday, February 11, 2008

these few presidents, frowning in my pocket

"WITH markets swinging widely, the Federal Reserve slashing interest rates and the word “recession” on everybody’s lips, renewed attention is being given to the gap between the haves and have-nots in America. Most of this debate, however, is focused on the wrong measurement of financial well-being.

"[...]Looking at a far more direct measure of American families’ economic status — household consumption — indicates that the gap between rich and poor is far less than most assume, and that the abstract, income-based way in which we measure the so-called poverty rate no longer applies to our society."

The top fifth of American households earned an average of $149,963 a year in 2006. The bottom fifth earned just $9,974, but spent nearly twice that — an average of $18,153 a year.

[You Are What You Spend]
title: WHY? lyrics

1 comment:

Jay said...

hey that's a feltron graphic! (see here too)