No surprise here:

Family Incomes Slipped In 1st Part Of Decade

After the booming 1990s when incomes and stock prices were soaring, this decade has been less of a thrill ride for most American families.

Average incomes after adjusting for inflation actually fell from 2001 to 2004, and the growth in net worth was the weakest in a decade, the Federal Reserve reported Thursday....

Average family incomes, after adjusting for inflation, fell to $70,700 in 2004, a drop of 2.3 percent when compared with 2001.

That was the weakest showing since a decline of 11.3 percent from 1989 to 1992, a period that also covered a recession.

And a Bush presidency.

...The gap between the very wealthy and other income groups widened during the period.

The top 10 percent of households saw their net worth rise by 6.1 percent to an average of $3.11 million while the bottom 10 percent suffered a decline from a net worth in which their assets equaled their liabilities in 2001 to owing $1,400 more than their total assets in 2004.

"This is the continuing story of the rich getting richer," said ...

...some Commie, right?

...David Wyss, chief economist at Standard & Poor's in New York.

And this is worrisome:

...The Fed survey found that debts as a percent of total assets rose to 15 percent in 2004, up from 12.1 percent in 2001....

Most of that is mortgage debt, and yes, I know -- we're all supposed to think that every home in America will be worth more next week than it is this week, and that this will never stop being true, so it's just fine if we just live our lives owing more and more every day. Of course, maybe it'll all come crashing down on President Hillary's watch -- I'm sure that would be fine with the current crowd, right?