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Ezra Klein surveys yesterday’s report from the Census Bureau and says: “Median income dropped a bit, poverty rose a bit, and so too did the number of Americans without health insurance. But the actual changes aren’t very large.”

Based on the reporting I saw yesterday, which initially caused me to think that income had dropped only slightly, this is a widespread view.  But it just isn’t true.  In fact, the 2008 drop in median household income was the biggest since the Census Bureau started tracking this stuff in 1976.  Income dropped $1,860 in 2008, and the next closest competitor is 1980, when it dropped $1,439.  Last year was the worst year for household income in both absolute terms and percentage terms in the past three decades.

And, as Ezra says, that was only 2008.  This year is likely to be as bad — or possibly worse. Income drops typically persist for several years during a recession, and the combined impact of this recession is almost certain to do more damage to middle class incomes than any recession since World War II.

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THE TRUTH...

is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

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