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David Sirota is a political journalist and nationally syndicated newspaper columnist at Creators Syndicate. David writes about political corruption, globalization and working-class economic issues often ignored by both of America's political parties.

  • May 18, 2007 12:34 PM

    CNN: $162,100 A Year Is “Modest” Income

    Check out this exchange between CNN reporters John Roberts and Jackie Schechner for proof that the Beltway media is totally and completely divorced from economic reality in America:

    SCHECHNER: What's interesting is Barack Obama and his wife, Michelle, report a significantly lower income when it comes to their personal assets.

    ROBERTS: Pretty modest with them, isn't it?

    SCHECHNER: Very much so. $457,000 up to $1.14 million. That's what the estimate. And then his book is really accounting for a lot of that. That's about $180,000 of assets for an advance and then for -- oh, I'm sorry, for royalties in advance of the $500,000.

    ROBERTS: All right. So they, obviously, they've got a very modest property and the income that you get, too, when you're a senator is modest.

    According to the U.S. Senate's website, Senators are paid $162,100 a year. By contrast, median household income in the United States is $46,326 per year. Yet, CNN would have us believe that $162,100 a year is "modest."

    (h/t Oliver Willis)

    Posted by David Sirota
    Permalink | Comments (8) | del.icio.us | digg
    Tags: Media Bias/Idiocy

Discussion

  • whatever [TypeKey Profile Page] :

    Most of the people who I know would love to find themselves "struggling to survive" on a similar modest income. You're right. They, the media and our political representatives, are completely divorced from the reality that most of us live with on a daily basis and quite probably might consider most of us to be a lesser life form.

    Posted on May 18, 2007 2:40 PM
  • waltc [TypeKey Profile Page] :

    I would love to know what Roberts and Schecner are being paid to call $160k "modest". It might also explain why reporters have turned into rich people's sycophants and lackies.


    Posted on May 18, 2007 2:53 PM
  • jrozzelle [TypeKey Profile Page] :

    I suspect these comments may have been in the context of the incomes and net worths of presidential candidates. Let's hope they're not that out of touch.

    Posted on May 18, 2007 3:43 PM
  • butte [TypeKey Profile Page] :

    Don't bet on it. Kind of reminds me of a supervisor who told me I should have been investing my money for retirement, back when I was in my thirties, so I'd have have a few hundred thousand for my retirement.
    I was too dumbfounded by his ignorance to tell him that, in my thirties, I was feeling lucky if I had $1.50 in my checking account the day before payday.
    Let's see, hmmmm, I guess I shouldn't have kept buying all those groceries for the kids, a retirement account is sooooo much more important ;-P

    Posted on May 18, 2007 6:01 PM
  • maxpayne [TypeKey Profile Page] :

    In states like CA and NY, that kind of a sum could be considered as able to withstand super-high costs of living.

    Posted on May 19, 2007 7:33 PM
  • waltc [TypeKey Profile Page] :

    Most folks in CA(with the exception of Orange county) don't make $160k, most are lucky to bring in half that.

    Now if you bought your home before sub-prime mortage lenders poisoned the real estate market, you can by on $40-80k a year if your companies offers bennies.

    But a lot of californians have also went apeshit and borrowed against their houses to buy Cadillac Escalades, Lincoln Navigators(replete with $16,000 wheel sets) and Dodge Avengers by the tens of thousands. There are more high end SUV's and pickup trucks on the road today in So.Cal than ever before.

    You also ought to see the number of folks making 100 mile commutes in their Excursions, Titans and F-250's and this when gas is at $3.48 a gallon. Dropping a $100 bill to fill up their gas guzzler doesn't even faze them.

    You'd think its party time out here the way folks are buying crap. But it begs the question who in the fuck is offering credit to these fools?

    Posted on May 19, 2007 10:37 PM
  • Benameliasdad [TypeKey Profile Page] :

    These corporate media Parrots/shills/dipshits, are so out of touch its not even funny. I feel so gratefull for the income we managed, approx. $80+K last year.

    Yet with a 300K mortgage, two kids, trying to put a little away for kids college, IRAs, and me going back to school, there is hardly anything remaining for "fun", and we honsetly haven't been living an extravagant lifestyle. It is crazy to think that 80k would be as tight as it is. I'd kill for a 'modest' $160k per year.

    I feel for people less fortunate than me!

    Posted on May 21, 2007 4:49 PM
  • Benameliasdad [TypeKey Profile Page] :

    Almost forgot, thank god democrats/phonies like Maria Cantwell voted for the '05 bankruptcy bill to protect the poor, poor banking industry from losing their shorts from middle class bankruptcies, while keeping the less restictive rules in place for millionaires like herself

    Posted on May 21, 2007 4:55 PM

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