Middle Class Crisis – Consent of the Governed
Middle Class Crisis
Interesting facts about the Middle Class in the US under Stress
Two recessions, a couple of market crashes, and stubbornly high unemployment are all wreaking havoc on America’s middle class….
Here are just some of the sobering facts:
– There are 8.5 million people receiving unemployment insurance and over 40 million receiving food stamps.
– At the current pace of job creation, the economy won’t return to full employment until 2018.
– Middle-income jobs are disappearing from the economy. The share of middle-income jobs in the United States has fallen from 52% in 1980 to 42% in 2010.
– Middle-income jobs have been replaced by low-income jobs, which now make up 41% of total employment.
– 17 million Americans with college degrees are doing jobs that require less than the skill levels associated with a bachelor’s degree.
– Over the past year, nominal wages grew only 1.7% while all consumer prices, including food and energy, increased by 2.7%.
– Wages and salaries have fallen from 60% of personal income in 1980 to 51% in 2010. Government transfers have risen from 11.7% of personal income in 1980 to 18.4% in 2010, a post-war high.
The middle class is shrinking, which threatens the social composition and stability of the world’s biggest economy.
More people are being pushed into lower standards of living as homes are being foreclosed upon and people remain out of work.
The worst part of all of this is the dependency on government that is being created, as well as the expectation that government should somehow pay for food, clothing, education and housing. In the meantime, everything that government is doing – printing more money, and spending more on entitlement programs, creates even more of a tax burden for people and the businesses that employ them. And as an added bonus, as businesses are taxed and regulated more, they will continue sending jobs overseas, further fanning the flames of unemployment here at home.
Destroying the middle class is not a good thing for this country.
Read original post on Judy’s blog: http://yedies.blogspot.com/2011/05/middle-class-crisis.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+blogspot%2FCOTG+%28Consent+Of+The+Governed%29
Judy Aron lives with her husband Michael in CT. They have three grown children who were homeschooled and are now successfully pursuing careers.
Judy earned her Bachelor’s degree in Economics, Magna Cum Laude, with minors in Business Administration and Computer Science from the State University of New York at New Paltz.
Judy has been involved in politics for over 15 years. She has been involved with the West Hartford Republican Town Committee and the West Hartford Taxpayer’s Association. She belongs to the West Hartford Toastmasters Club and she volunteers for the Hartford Symphony Orchestra.
Judy has written many articles on various aspects of education at home and in public and private schools. She has been published in magazines and online, and has been widely interviewed by the media. She served as Vice President of Connecticut Homeschool Network (CHN) and was their legislative liaison. She now serves as Research Director for National Home Education Legal Defense (NHELD) providing parents across the nation with important information on legislative issues concerning parental rights and education.
Judy has a cable TV show on West Hartford Cable TV entitled: “What You Should Know” and she is the author of the blog “Consent of the Governed“.
Most recently, Judy has been involved in various organizations and efforts to Restore the Republic, End/Audit the Federal Reserve, and to educate the public about the issues regarding their Liberty and Freedom, and is working to put a halt to the erosion of our rights.
Judy is a fan of Ayn Rand, Seinfeld, Star Trek, Peter Schiff, Judge Andrew Napolitano, The Founders, JPFO, Appleseed, Von Mises, John Taylor Gatto, Wallace and Gromit, Dick Heller and Ruger (not in that order).
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