You are poorer than you may know

Posted by    |    September 19th, 2012 at 5:40 am

homeless man sitting on stoop head in arms with all his belongings (Credit: fmalot via Fotolia.com)Our median annual household income has fallen for the fourth straight year, back to 1995 levels.  In other words, the typical America is now making as much money as he or she did 17 years ago.  However, costs have risen dramatically over these years.  I did some research: a gallon of gas in 1995 cost $1.09; now it costs $4.13.  The average cost of a new car in 1995 was $15,500; it has doubled to $30,748 today.  The average new home in 1995 cost $113,150; it is now $263,200, which is actually down from a year ago.

In other news, Israel’s prime minister is calling on America to draw a “red line” with Iran before it’s too late.  And our education system continues to struggle: almost 65 percent of those at four-year schools have no degrees within six years, while two million college students are taking remedial courses to study what they should have learned in high school.

Read the entire story at You are poorer than you may know on the
Denison Forum on Truth and Culture