[Smlr_net] (NYT) Opinion: For Americans, Being ‘Better Off’ Is a Matter of Perspective

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Title: Opinion: For Americans, Being ‘Better Off’ Is a Matter of Perspective Date: Sept. 28, 2012 Source: NY Times

*Author:* James B. Stewart Summary: The unemployment rate in August was 8.1 percent, down from 10 percent reached in October 2009 but higher than the 7.8 percent in January when President Obama took office. Gross domestic product increased an estimated 2 percent rate in the first quarter and 1.3 percent in the second. While slow, that was a substantial improvement from the 3.8 percent contraction reported in January 2009, which was the worst drop in 27 years. Inflation was 1.7 percent in August, well within the Federal Reserve’s target range, and much better than the modest but worrisome deflationhttp://topics.nytimes.com/top/reference/timestopics/subjects/d/deflation_economics/index.html?inline=nyt-classifierof early 2009. Median household income for 2011 was an estimated $50,054, compared with $50,112 for 2008, according to the Census Bureau. About the best the Obama administration has been able to say is that trends show slow but steady improvement. Link: http://nyti.ms/QjJtzO