fallen 8.2 percent since Obama took office and continue to drop despite the recession "ending" in 2009. This only tells a fraction of the story.
With inflation running at 6-8% per annum since the financial crisis (that's right, 6-8%), median incomes have actually dropped not from $55,198 to $50,678, as Fox has reported, but from $55,198 to $42,062 in inflation-adjusted dollars (Jan. 2009 baseline), a decline of 24%. This decline of 24% is due to the loss of 2 million jobs since Obama took office and the erosion of job quality. (The majority of jobs created since Obama took office have been of the part-time, low-wage variety.)