Today's the day that the Census Bureau issued the annual report on poverty, income, and health insurance. The year-over-year changes from 2006 to 2007 were pretty modest -- a slight growth in median family income, no statistical change in the overall poverty rate.
But the big story is how little most people benefited from the economic growth of the Bush years -- as my colleagues at EPI point out, median income is still not back up to where it was in 2000. And I don't think there's anyone who doubts that the income and poverty numbers are going to look significantly worse in 2008.
Moreover, as Cheryl at DemoMemo notes, the only reason that median family income rose from 2006 to 2007 is because of the increased income of household heads aged 55 or older. And that's because they were more likely to be working. That's a good thing if it's because they're in better health and able to keep working, not such a good thing if it's because they can't afford to retire.
It's also worth noting that the only reason the number of uninsured fell is because of the increase in coverage under public programs -- Medicaid, SCHIP, and Medicare. And that's in spite of the Bush Administration's attempts to prevent states from expanding coverage.