Zuyan’s Summary

Summary of “Income Slides to 1996 Levels”
By CONOR DOUGHERTY
http://online.wsj.com/article/SB10001424053111904265504576568543968213896.html
According to Conor’s article “Income Slides to 1996 Levels?” (SEPTEMBER 14, 2011) critics have argued that the income in the typical American family has dropped from the last 3 years and the economy went back to the point of the 1996 level. Because the economy was bad, more families were living below the poverty line and more people lose their jobs. This article is argues about how the economy changed in these years and how the bad economy influence people’s daily life.
First, according to the Census, Conor showed the income of average family fell 2.3% compare to 2010; compare to the year 1999, the income now was 7.1% below the year 1999, which showed us how the economy went bad in these years and the gain boom age in 2000s has gone. The full-time year income fell, but in the other hand, median income went up in women recent years even though they still make 77 cents of a dollar earned by men.
Conor also mention about the fraction of Americans living in poverty went up to 15.1% and around 22% of the children are now living below the poverty line. From 2007 to 2010, the nation’s per capita net worth gained which is good to people; in the other hand, the biggest asset in American family is their homes, but now the value is decreasing. However, the recovery is slow and it going to take a while for the economy to recovery.
Conor showed the examples of people lose their jobs and people moved from big house to apartment because the bad economy. From the census report, more and more people are worried about the American economy in the future. More than 140’000 people lose their jobs, poverty rates among people younger than 18 grew 20% more than year 2010 and more people lacking in their health insurance. Meanwhile, the gap between the rich Americans and poor Americans did not change much.

Response
In my opinion, the economy caused a lot of problem to people and their families. For those who live in the top level, it is not a big deal for living and having extra family activities. For the middle-class people in the America, they are having hard time looking for the jobs and they have to be hard work even though the full-time job will not pay that much like in the past. As for the people who live below the poverty line, I think the government will help them from the anti-poverty programs, such as subsidized housing, food stamps and the Earned Income Tax Credit.