Elizabeth McNichol, senior fellow at the Center on Budget and Policy Priorities, says during a conference call on income inequality that the growing income gap is highlighted by the nation’s current economic problems. She says that “before the recent downturn hit” the economy showed income gains, but “the economic recovery was not experienced by much of America.” (0:23)
During a conference call to discuss the new report on income inequality by the Center on Budget and Policy Priorities (CBPP) and the Economic Policy Institute (EPI), Elizabeth McNichol says the incomes of the poorest families in Alabama experienced a decrease that showed a “considerably larger decline than the two and a half percent drop for the nation.” She said Alabama had the second largest divide between the richest and the poorest families.
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The Center on Budget and Policy Priorities (CBPP) and Economic Policy Institute (EPI) held a conference call to discuss their joint study that examines family income inequality on state and national levels. Elizabeth McNichol, senior fellow at CBPP, said that the gap between the richest families and the middle and poorest families is widening. She said the long standing trend in the growing inequality gap has accelerated since the late 1990s. The study is based on inflation-adjusted Census data, and McNichol said incomes fell for poor families, stagnated for middle income families, and climbed by nine percent for the nation’s richest families.
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