Government Issues Gloomy Report on Household Incomes

The Census Bureau today reported that 2.6 million people dropped below the poverty rate last year and that 1 million lost their employer-provided healthcare. But another figure may be ever more dramatic: household income in 2008 was $50,000, $2,000 less than it was in 1999. Justin Fox, who writes the "Curious Capitalist" blog for Time magazine, is author of the new book, The Myth of the Rational Market.