Income Down, Poverty Up, Youth Hit Hard

A new Census report shows that the Great Recession continued to pound away at American living standards in 2010. Compared to the prior year, the real median income of all households ($49,445) was down 2.3 percent—for a total decline of 6.4 percent since 2007. This number has not dropped below $50,000, in today’s dollars, since 1996. Not since the Great …