From an article that appears in the Christian Science Monitor.
America remains a “yes, we can” kind of nation, but the aspirations of the vast middle class are under strain – enough to be the subject of a presidential task force.
President-elect Obama made it official earlier this week. Come January, a key job of Vice President Joseph Biden will be to come up with ways to boost middle-class incomes and to address related concerns about job and retirement security.
Of course, the very phrase “middle class” is a fuzzy one, and a topic perennially on the minds of politicians. But ordinary Americans are confronting a real economic squeeze.
Pay isn’t rising as fast as it used to, relative to economic growth. And over the past decade, households have stretched their debt loads to historic highs. Now an economic downturn is amplifying concerns about the security of careers, health insurance, and pensions.
In November, consumers pulled back on their spending for the fifth straight month, the Commerce Department reported Wednesday. Polls suggest widespread feelings of financial insecurity among working families – not just the direct impact of job losses – are a big reason.
The American public now appears to be on the fence about which way the country is headed. Six in 10 consumers who are cutting back say the reason is worry that things might get worse, according to a Pew Research Center poll taken earlier this month. Half that many said they had curbed spending because their financial situation actually is worse.
But can-do optimism endures. Some 68 percent of poll respondents agreed with the statement, “As Americans, we can always find ways to solve our problems and get what we want.” That number is higher than it was in 2004.
Mr. Obama announced the so-called White House Task Force on Working Families on Dec. 21. The selection of his vice president to head it suggests that Biden, known also for his foreign-policy expertise, will have a big role on domestic policy as well.
Biden said the task force would look to set policies that will improve basic benchmarks: “Is the number of these [middle-class] families growing? Are they prospering? President-elect Obama and I know the economic health of working families has eroded, and we intend to turn that around.”
The task force identified five areas for new policies:
•Expanding education and lifelong training opportunities.
•Improving work and family balance.
•Restoring labor standards, including workplace safety.
•Helping to protect family incomes.
•Protecting retirement security.
Policies on health insurance, another middle-class concern, will be crafted by Obama’s Health and Human Services secretary, Tom Daschle.
Similarly, the job-creating stimulus plan – expected to involve massive government spending – isn’t being crafted by this task force.