Sobering National Economic News -- Household Incomes Down Again

A recent article from the Washington Post (9/27/10) summed up what many people have recently surmised.  Household buying power was diminished for a second straight year.
“Nationwide, incomes went down for the second year in a row, as did the proportion of households earning more than $100,000. The ranks of people living in poverty and near-poverty grew, and more people went without health insurance.  Nationally, the median income of $50,221 was down about 4 percent last year from the start of the recession in December 2007. In 2007, the median household income was $52,384. Last year alone was responsible for about $1,500 of that loss.  From 2008 to 2009, real median household income fell by 2.9 percent nationwide, decreasing in 34 states and increasing in one (North Dakota), the data showed.  Almost one in five households had an income of $100,000 or more last year, the census data showed. That was down almost a full percentage point from 2008. In contrast, almost one in four families earned less than $25,000, an increase of one percentage point. The number and percentage of people in poverty rose in 31 states from 2008 to 2009, with no state showing a statistically significant decline.”

What are the implications of this continued national economic downturn for Brookdale Community College?  Will we see more students selecting us for their first two years over more expensive four-year college choices?  Will we see fewer students who come from poorer families and can no longer afford community college tuition and textbooks?  Is this situation an opportunity, a threat or both for Brookdale?  What strategies make sense for the different departments and areas of the College?