Gone to foreclosure……gone to food stamps….gone to unemployment…..every one…..and the sad part of the saga is that it will most likely never return…..nothing being offered up by the government will protect or strengthen the middle class…it is a dying breed….it is dying slowly and most painfully…
I have heard economists and economic journalists say that part of the problem is the rise of China….this I agree with…..then they say that jobs are sent overseas because labor is cheaper and more profit can be made…..I also agree with this….but then they lose me….they say that the answer to our diminishing middle class is education….and education is the only way to save our faultering economy and middle class….sorry, no matter how I say it…….I can only hear the word BULLSH*T!
Still if they all believe that education is the answer……try to find an explanation for me…..how would a more educated people be a way to save jobs from going overseas? Would that not make more jobs flee? I mean with the cost of education and the cost of living in the US so high….jobs would still be sent overseas….a more educated middle class would not bring jobs back and would not make for a stronger economy….what business needs is less educated workers….why?….they will work cheap….that would help bring jobs home….
The Middle class is disappearing thanks to the politics of the country….why?……Massive national and personal debt. The US national debt has risen more in the last five years than in the entire history of the country. Even worse than the debt are the unfunded obligations of the US government in future years. Trump and Kiyosaki say that the unfunded obligations for Social Security are roughly $10 trillion, and those of Medicare are roughly $60 trillion. They compare these to the estimated value of the entire New York Stock Exchange at $35 trillion. These massive obligations are the result of unfunded promises to the large generation of baby boomers who are approaching retirement age. There is simply no way out of this morass that is without significant pain. Second, personal debt is also at an all-time high. One of the reasons for so many home mortgage foreclosures was homeowners using their home equity as a “piggy bank” to fund cars, vacations, luxury items, home improvements, etc. When the housing bubble burst, many of them could not keep up with their mortgage and credit card debt.
All the above causes are directly the fault of the politicians and their attitudes toward the people….absolutely NO ONE in Washington is working to sure up the middle class….banks got it….auto makers got it…..workers got diddly. The Middle Class will be a course taught in grad school for economics……