American families are experiencing very difficult economic times – the toughest in terms of stagnant incomes since World War II. Real median household income is 0.6 percent lower in 2007 than it was at the end of the 1990s. Even though incomes grew by 1.3 percent ($665 ) between 2006 and 2007, this was not enough to make up for prior years' income losses. Since the Bush administration took office there has been a large increase in income inequality, with the poorest households’ income declining even as the richest households’ incomes rise. The data confirm that the vast majority of Americans have not benefited from economic growth over the past seven years.
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