Most Americans Just Treading Water

New report from the Center on Budget and Policy Priorities:

"Widely reported data on Americans’ incomes paint a disappointing picture of the current economic expansion, especially for low- and middle-income families.  By most measures, Americans’ real (inflation-adjusted) incomes in 2005 were still below their level in the recession year of 2001.  Less-well-known data on consumer spending — including newly released Labor Department data for 2005 — add an important element to this story, showing that only high-income households have been able to raise their living standards in recent years."  [RJ]