Regarding Lowering Expectations for Lifetime Earnings

This posting by the WSJ On-line lays out what we all have been sensing about the generation in their thirties being less well off than their parents' generation. Here are the bad news factoids:

American men in their 30s today are worse off than their fathers' generation, a reversal from just a decade ago, when sons generally were better off than their fathers, a new study finds.

In 2004, the median income for a man in his 30s, a good predictor of his lifetime earnings, was $35,010, the study says, 12% less than for men in their 30s in 1974 -- their fathers' generation -- adjusted for inflation. A decade ago, median income for men in their 30s was $32,901, 5% higher than 30 years earlier.

And the kicker, of course, affecting all is the direct result of the Bushie's policies to reward the rich and punish the poor:

The study, the first in a series on economic mobility undertaken by several prominent think tanks, also says the typical American family's income has lagged far behind productivity growth since 2000, a departure from most of the post-World War II period.