Median income DOWN by more than $2K under Obama's first term
Record 46,496,000 Americans classified as living at poverty level in new high
Are things a little bit tighter at your house? Have you found that to be true, over the past five years? According to the U.S. Census Bureau, the average median income for most U.S. households were down more than $2,000 for the first four years that President Obama was in the White House.
Approximately 46,496,000 people in the U.S. currently live in poverty - which is more than twice the population of Syria, which, according to the CIA, has 22,457,336 people.
When Obama took office, real median household income in the U.S. in 2008 was $53,644. The last full year of Obama's first term -- 2012, median household income was $51,017. Thus, real median household income dropped $2,627, or 4.89 percent, from 2008 to 2012.
The statistics are uniformly grim: Real median household income dropped in every year of Obama's first term. In 2008, it was $53,644. In 2009, the year he was inaugurated, it dropped to 53,285. In 2010, his second year in office, it dropped to $51,892. In 2011, his third year in office, it dropped to $51,100. And, in 2012, his fourth year in office, it dropped to $51,017.
People living in poverty in the U.S. during this period increased. There were approximately 39,829,000 people living in poverty in 2008. In 2012, there were 46,496,000. That is an increase of approximately 6,667,000, of 16.73 percent, from 2008 to 2012.
The bureau defined poverty on the size of a typical U.S. household. If a person lived by themselves and earned less than $11,270 in 2012, they were considered to be in poverty. A family of two people was considered in poverty if they earned less than $14,937. The threshold for a family of three was $18,284, for a family of four it was $23,492, and for a family of five it was $27,827.
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