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The Economy? Funny You Should Ask.

4:44 PM, Sep 12, 2012 • By GEOFFREY NORMAN
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According to the Census Bureau:

The proportion of people living in poverty was 15 percent in 2011, little changed from 15.1 percent in 2010, while median household income dropped 1.5 percent. The 46.2 million people living in poverty remained at the highest level in the 53 years [it] has been collecting that statistic. 

The election is, of course, about more than the economy.  But, then, the economy is about more than the economy.  The combination of the debt/entitlement crisis and a stagnant GDP means less of what we are all told we need and what we already know we want.  Less money for education.  Less for health care.  Less for infrastructure.  

This means more demoralization, more debt, and more fights over portion sizes of a shrinking pie.  More of the same, in other words.  For, perhaps, four more years.

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