It is official. The New York Times has acknowledged that the middle class is fading and falling to its knees, while back pedaling to give lip service to the administration that swears the economy is getting better. http://www.msn.com/en-us/money/markets/middle-class-shrinks-further-as-more-fall-out-instead-of-climbing-up/ar-AA8Aqit
Most would not tell you that they are surprised. Especially those who have suffered decline during what they call the “Great Recession”.
The “plan” to stimulate the economy did nothing but fill the pockets of the wealthy and strip any real wealth from the middle class.
By real wealth, I mean people’s homes and savings.
By sending all of the manufacturing overseas, and eliminating middle management positions, the middle class found itself unemployed or underemployed. They were unable to make their financial obligations and began to lose the real property they had accumulated.
The administration touts job creation, but the majority of the jobs that have been created in the last six years have been minimum wage jobs.
The last of the Baby Boomers and Generation X are looking at a bleak future.
Many are mature adults who have had to move into their parents’ homes and try to manage on little or nothing.
Most are earning around 40% of what they had taken home in the years prior to the recession. Some have left the job market completely and will never recover. Their overall net worth has declined and there is no way to earn or save the way back to prosperity.
http://www.reuters.com/article/2015/01/18/us-usa-obama-economy-idUSKBN0KR0HD20150118
There is a large amount of moaning and false empathy for the middle class by the administration, but very little real effort has been put into restoring the pocketbook of the American people.
Until a real plan is presented by someone, anyone that will create real jobs for everyone who would like to have one, nothing is going to change.
At best, it is wasteful for a worker with specific skills and education to be languishing in an underpaid position as a sales person in a coffee house or retail store.
At worst, it is a soul-wrecking drain on a person who made a concentrated effort to prepare for their life.
Now that the truth has been somewhat stated by the New York Times, who or what will provide a solution?
Image: http://www.flickr.com/photos/donkeyhotey/5789908005/
