Recessions & Recoveries

At the turn of the year the United States avoided careening over a fiscal cliff - which would have triggered recession-inducing automatic tax increases and spending cuts - by passing legislation that raised some taxes, but did little to cut spending.

Overview With Washington making little apparent progress in efforts to avoid going over the “fiscal cliff,” public opinion about the situation has changed little over the past three weeks. The latest national survey by the Pew Research Center for the People & the Press and The Washington Post, conducted Nov. 29-Dec. 2 among 1,003 adults, […]

In the two years since the end of the recession, median household income has fallen by 4.1%, decreasing by about as much as it did during the recession itself.

The median income of American households decreased by as much in the two years after the official end of the Great Recession as it did during the recession itself. The latest estimates from the Census Bureau show that the median income for U.S. households in 2011 was $50,054.1 In 2009, the year the Great Recession […]

Americans do not rate their personal finances any better –or worse – than they did when Barack Obama took office nearly four years ago. And while income is a major factor in people’s views of their personal finances, so too is their partisan affiliation. The Pew Research Center has been tracking personal financial well-being for […]

Chapter 1: Overview As the 2012 presidential candidates prepare their closing arguments to America’s middle class, they are courting a group that has endured a lost decade for economic well-being. Since 2000, the middle class has shrunk in size, fallen backward in income and wealth, and shed some—but by no means all—of its characteristic faith […]

Add faith in the work ethic and in capitalism to the lengthening list of casualties from the Great Recession. Four years after the Lehman Brothers’ fiasco and the ensuing global economic downturn, the idea that effort in a competitive economy can lead to success is seriously questioned in a number of major economies, including Japan, Russia and Greece, especially among those who have suffered the most.

The Great Recession seems to have accelerated the tendency of today’s young adults – sometimes labeled the “boomerang generation” – to move out of the family house for a time and then boomerang back.

As the G-8 leaders prepare to meet at Camp David on Friday, the dominant topic of conversation will be the European debt crisis. Yet it is a crisis that has attracted minimal interest or concern among the U.S. public, despite warnings from economists that Europe’s problems may threaten this country’s fragile recovery. Last week was […]