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Crunch by Jared Bernstein

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Notes

PREFACE

1. Since I’m auditioning to be your economic tour guide, some disclosure is in order. I’ve been employed as an economist since the early 1990s, but my PhD is in social welfare. This means I studied economics through the lens of social policy, which gave me a chance to learn the rules and models of economics along with the real-life impact of those rules once they’re implemented.

CHAPTER 1: THE BIG SQUEEZE

1. Source: Economy’s growth is measured by real gross domestic product, see http://www.bea.gov/national/nipaweb/Index.asp, table 1.1.6. Real median weekly earnings are for full-time workers, Bureau of Labor Statistics, http://www.bls.gov/cps/cpswktabs.htm, series No. LEU0252881600.

2. Source: U.S. Bureau of the Census,http://www.census.gov/hhes/www ...

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