The U.S. Census Bureau report released this week shows that the typical U.S. household saw income fall last year to 1989 levels. Liberal economists blame the growing income gap on the decline of labor unions and a minimum wage that doesn’t keep pace with inflation, conservative economists point to an increase on government dependency and a huge debt crisis. The Fed hoped to split the difference Thursday, moving forward with another round of stimulus – QE3. The stimulus is not met with cheers from all economists on both sides of the aisle though, as some claim the action will have the opposite effect of what is intended, and further efforts driving interest rates lower could lead us into “liquidity trap."
On "Real News From The Blaze" Will Cain broke down revelations from the census report, and the panel debated why household income has stagnated in the U.S. over the last two decades: