Are you better off after 8 years of a GOP president?

[MikeWaters]

America's middle class is increasingly squeezed by sagging incomes and soaring expenses, experts told Congress on Wednesday.

Adjusted for inflation, median household income dropped by $1,175 between 2000 and 2007, said Elizabeth Warren, professor at Harvard Law School, in written testimony before the Joint Economic Committee.

At the same time, the average family is spending $4,655 more on basic expenses, such as gas, housing, food and health insurance. Gas alone costs $2,195 more for a family making the same commute in May 2008 as it did eight years earlier.

http://money.cnn.com/2008/07/23/news...ion=2008072313