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Friday, January 25, 2013

Tom Brokaw, Bobblehead

A lot of people don't realize in large urban and suburban areas of America, $250,000 doesn't make you rich. You have got two kids in college at $60,000. If you're a boomer, you may have a dependent parent of some kind you're spending another $20,000 or $25,000 on.  So we have to have a definition of what is the middle class.
-- Tom Brokaw, Meet the Press12/30/12.

For the record, median household income in the US in 2011 was just over $50,000, according to the Census Bureau.  Nearly 10% lower than it was in 1999.  (Good luck with that college thing.)