Skip to comments.American middle class dream is slipping away
Posted on 01/27/2010 10:59:50 AM PST by Cheap_Hessian
New York, Jan 27 (IANS) The American middle class dream is fast getting out of reach for more and more people as tough economic times take toll on their incomes and quality of life, says a study by the US Commerce Department.
More than 90 percent Americans consider themselves to be middle/working class, with only one percent calling themselves 'upper class' and seven percent 'lower class', according to a 2005 survey by the New York Times.
But according to the new report titled Middle Class in America, the Americans' dream to reach the middle class is becoming increasingly difficult.
The report, prepared by the Commerce Department for Vice President Joe Biden's Middle Class Task Force, compares current incomes and living costs of the middle class with those two decades ago.
'The American dream is attainable, but if we don't attack the big problems today, whether it's health insurance, education, childcare or housing, it will be harder for more and more American families to reach the middle class,'' said Commerce Secretary Gary Locke.
(Excerpt) Read more at in.news.yahoo.com ...
Since the 1990s, according to the report, housing prices have risen 56 percent, college tuitions 60 percent and health insurance premiums and out-of-pocket costs 155 percent.
But government tells us inflation is at 2% a year and that the Federal Reserve is indispensible and doing a great job.
That’s what happens when you put Marxists in charge of education and/or government....
You must be in California, like me.
oh— and media...
No question; BO is winning the war on the middle class. Never have a seen a more detestable tyrant rise to power in this country.
College, and medicine are basically arms of the government.
Land use, zoning, building codes all government controlled. Plus as we know, floods of finance money, or now, drought.
If something doesn’t work, is too expensive....look for the government label.
Hmmm, wonder if it could have anything to do with the fact that we are being run (and have been run) by economic losers with no ability except “public service” for the last 50 years or so.
Naaaaah, couldn’t be.
Got laid off yesterday so I would have to say yes. Kid in college and we will likely end up bankrupt considering the devastion we incurred when my wife lost her job a few years ago.
20 years of work down the drain and reboot.
American middle class dream is slipping away
All brought to us by our ever expanding, bloated, all controlling government.
Rush gave an interesting and accurate description of the diffence between the liberal definition of “working class” and “middle class”.
“Middle class” is what they mean by “non-union workers”, and “working class” is “union workers”.
So while the 0bama cabal is trying to destroy the “middle class” they are protecting the “working class”.
at least now we know what Commerce Secretary Gary Locke does all day....feeds Obama economic propaganda to the Indian press....
At 2% interest over 20 years you'd expect to see about a 50% increase in the original principal.
Is landing in the middle class really a dream of the masses? I guess limiting one’s goals is a way to avoid disappointment. I need to look through my old high school yearbook and see how many classmates identified the middle class as their ambition in life.
In reality today there are only 2 classes; ruling and non-ruling. But if the middle class is your dream then I recommend starting out in the upper class, much easier to go from upper to middle nowadays.
Never, in a million years, did I think that I'd be pulling down the salary that I'm making now, and pinching pennies. Not just clipping coupons and shopping the sales (I'd likely be doing that if we were zillionaires, old habits die hard)....but really pinching pennies.
We've cut out the easy stuff - We've cut out vacations. We've cut out restaurants - no more grab a breakfast on the way in / lunches out while I'm at work, either. The entertainment budget has gone to near zero. Both Mrs WBill and I have cars that are 10+ years old and that'll stay so long as maintenance is cheaper than payments. Retirement has taken a fair hit over the past year. The next choices to whack are going to be a little more difficult.
And, we're putting every nickel that we can into savings because frankly, I'm concerned for my future over the next few years. I think we're in for some rough times.
I never thought that it would happen, but it has, in 12 short months. Amazing.
Can anyone be a bigger nitwit? This idiot lays out the things people desire as big problems, but fails to mention the thing that enables people to obtain all those things for themselves: economic opportunity and good jobs.
With a Commerce Secretary like that character, one could justify being pessimistic.
I didn't even need to read further. Typical liberal blather. "Oh no!!! The American dream is unobtainable due to [fill in liberal cause here]. We need a new government program....yada, yada,yada
In reality all we need to obtain the American dream is , cut taxes accross the board, cut unconstitutional spending and get out of the way,
Sorry to hear that, I've been out since Sept with 1 in college. As another disgrace to the nation once said, "I feel your pain.".
I'd need to think about it, but "Health Insurance" might not even make my top 5 in expenditures. And I pay out of pocket for mine.
#1? Taxes, easily. I pay far more in income tax than I made at my first professional job. And that doesn't include gas tax, sales tax, property tax (that's huge!), city services taxes, and a bunch of other ones that I'm forgetting.
IMO, it's all about jobs - a big company has got to step up and see the devastation for American workers when we ship everything possible overseas and ignite the foreign middle class (which is akin to the American lower class in most cases). If you work for a company that doesn't outsource, they cannot compete with companies who do.
Short sighted on salaries too - love it when common wisdom says that Americans make too much money (yet look at the article above and explain how we attain 'middle class') but yet supposedly we need much more education like the people have overseas where the jobs have been shipped. Which costs Americans a lot of money - kids are graduating with major college loans. The companies don't pay the overseas people enough to buy their products and slowly but surely, we can't afford it either when we have no job (or take a cut in pay).
Can't just blame Obama for this either - Bush & most Repubs are on the same page as far as the global economy mindset.
Good luck to you - I sincerely hope your fortunes change soon.
I spent a lot of time around people like Locke. Due to their liberal idiocy, they cannot appreciate that the more gummint meddles, the more the end product/service costs.
Housing, health insurance, and childcare are indeed valuable and important. If we want to control costs, gummint needs to meddle less and let the free market work.
I agree with your comment about 2% inflation.
My parents purchased their house in the 1960s and had it paid off in about 5 years. It is a 4 bedroom ranch on about 4 acres of land. My dad also has a cabin a few miles away on 8 acres of land. My dad worked in a factory and had a very modest income. He also sent me and my twin brother to college simultaneously.
There is no way a working class blue collar Joe these days could possibly afford to do all that.
Response: Not slipping away but being taken away.
Comment: The middle class, commencing at the end of WWII, accumulated enormous wealth expressed in the form of realty and personal property such as pensions. This pool of wealth had to be taken to provide income for political supporters. In general, the taking is being accomplished through taxation,destruction of wealth producing employers, collapsing stock,realty values and 401k's etc.
The new Demonrat mantra! Woof, woof, let granny eat dog food...spoof on 'let them eat cake'. obama's war on seniors
See the links in post 43-46 and on the last page.
Expanding support for families balancing work with caring for elderly relatives with a $102.5 million Caregiver Initiative adding $52.5 million in funding to Department of Health and Human Services caregiver support programs that provide temporary respite care, counseling, training, and referrals to critical services. The administration says the extra funding will allow nearly 200,000 additional caregivers to be served and 3 million more hours of respite care to be provided. It also adds $50 million to programs that provide transportation help, adult day care, and in-home services, such as aides to help seniors bathe and cook, help which eases the burden for family members and helps seniors stay in their homes.
There is a lot more economic trouble and agony out there than we are seeing—courtesy of our Dear Leader’s Media.
This is inexcusable in the USA. We know who is to blame and they MUST be held accountable.
This is what they want, you know. I mean, if you hate capitalism and wealth, then what is the alternative?
That’s me giving these communist bastards the benefit of the doubt. That’s me doing my best to avoid sounding like an alarmist.
Having said that...
I will add that the time for us to resist with everything we have might be just after some big event. One big “terrorist attack”, for example, and these power mongers might get all they need to end our way of life, forever. Don’t let it surprise you.
“American middle class dream is slipping away”
No, it’s been shipped away. Off-shored. Out-sourced.
Our loss of manufacturing is the loss of our middle class. Textiles, steel, electronics, cars & parts, produce, etc., etc., etc. And it’s been shipped away by business leaders. The reasons are many, including excessive taxation and regulation, but it is they that sent the work away.
The “middle class” is a very recent and unique thing.
In the past there was those who had wealth, and those who were slaves.
That’s a good point. I guess inflation does compound.
hide income...cheat on taxes...fudge numbers....apply for govt disability early and lie if you have too.....the zero govt gives the real workers no choice but to become dishonest...
I think it’s time for a government shut down, like what happened when Clinton and Monica hooked up.
Maybe if we’re lucky, Barack and Rahm will get caught in the act! ;^)