Close Close

Life Health > Life Insurance

Why many Americans feel like they’re getting poorer

Your article was successfully shared with the contacts you provided.

The Commerce Department released data last week that showed that personal income dropped in January by 4 percent, once factoring in taxes and inflation. It’s the biggest monthly drop in 50 years, and on one hand, it’s a statistical blip, really. (Year-end bonuses in December tend to scotch January figures). But there is also the very real problem of a slow U.S. economic recovery and the fact that for many Americans, in the long term, their overall quality of life is declining, not improving. That bodes ill for everybody.