Boom Leaves Middle Class Behind

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New York TImes   |  DAVID LEONHARDT   |   April 9, 2008 08:37 AM


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How has the United States economy gotten to this point?

It's not just the apparent recession. Recessions happen. If you tried to build an economy immune to the human emotions that produce boom and bust, you would end up with something that looked like East Germany.

The bigger problem is that the now-finished boom was, for most Americans, nothing of the sort. In 2000, at the end of the previous economic expansion, the median American family made about $61,000, according to the Census Bureau's inflation-adjusted numbers. In 2007, in what looks to have been the final year of the most recent expansion, the median family, amazingly, seems to have made less -- about $60,500.

Read the whole story here.

 
 

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This is the inflation Tax Ron Paul warns about but instead America votes in folks that will continue the trend out of sheer ignorance or spite. People prefer to listen to the tv and not think, they let the media companies tell them who is and who isn't "electable" and then the media drives the wedge issues to make sure you do not vote for anyone honest.

    Favorite    Flag as abusive Posted 03:22 PM on 04/10/2008

The systematic, intentional extermination of the Middle Class has been going on at least since Nixon went to China. It was put into high-gear by Reagan and his antics (who the MSM knew had been a paid anti-labor propagandist for GE among others)

Contrary to popular belief, Bill Clinton is more accountable than the GOP led congress since he willingly turned the key on eliminating jobs U.S. by ratifying GATT, NAFTA, giving China MFN and affording many other Corporate Wetdreams and the MSM HAD TO HAVE KNOWN this would put most Americans into poverty and still. GE had millionaire so-called journalists like **Alan Greenspans wife Andrea Mitchell** report that Globalization is Great and the working-class in the U.S. are paranoid.

Yes, things were better in the 90s but the fallout of those trade agreements had yet to be felt.

It was a **radical, aggressive and mean-spirited** attack on working-class Americans by a handful of pompus, silver-spooned elitists......and, as a citizen/voter, - I **demand** that much effort be put in to REVERSING IT !!!

We need Left-wing heroes now, - being "Moderate" = sold out to the Corporate Oligarchy.

    Favorite    Flag as abusive Posted 10:14 AM on 04/10/2008

Deficits transfer money from the poor & middle to the rich.
Tax cuts, a la Bush, make the wealth transfer worse.

    Favorite    Flag as abusive Posted 10:54 PM on 04/09/2008

The most important aspect of living today in America is that the average citizen gets to support all the bad in this government while allowing our rich to get richer. What better reason to support what is.

The upper crust are better than you and have the attributes to lead followers. Simply put, you deserve what you accept. McCain's warmongering, Hillary's lies and pandering, almost every elected representative representing themselves, while collar crime acceptable, white collar pay exorbidant while they cringe about paying a minimum pay scale, the list is endless.

    Favorite    Flag as abusive Posted 03:54 PM on 04/09/2008

Let's not forgive the Dems their part in this economic fiasco. While the 'Limousine Liberal' branch of the party is busy fighting over their pet causes like amnesty for illegals, they ignore what should be the core issue for their base, the stagnant standard of living for the majority of workers.
The revolution is coming, trust me.

    Favorite    Flag as abusive Posted 01:15 PM on 04/09/2008

The bush administration considers you and I middletrash, and could care less what you think...............

    Favorite    Flag as abusive Posted 01:05 PM on 04/09/2008

Soon there will be no Middle Class.

    Favorite    Flag as abusive Posted 12:35 PM on 04/09/2008

Every 5 years or so I switch jobs and get large increases in my salary . All my friends who have played the safe route and stayed with their companies their entire lived have far lower salaries. There is no loyalties for companies towards workers and for me, I feel the same to the companies that hire me. Am I over paid, maybe-it depends on your perspective. My view is, I'm always underpaid. As long as the CEO's make all that money, it means I should ask for the same. It's my view the salary I'm currently making is the lowest salary the company is willing to pay me unless I keep asking for more.

When I leave a company, my former managers see their hardest and most productive worker leaving for a better paying job because their company is too cheap to pay me what I'm worth.

As I go up the ranks, there is no chance I will ever hire any manager that failed in giving me the raise or salary increase I was promised or deserved. I need people who I can trust and consistently come through and I believe can support me.

If I'm looking for a higher paying job in my current company, you can bet I'm looking on the outside too. My only goal in working for someone else is to get the maximum compensation I possibly can. This is the exact opposite of the person hiring me.

    Favorite    Flag as abusive Posted 12:02 PM on 04/09/2008

Do you have a point Harrier, or are you just posting to satisfy your ego?
Not everyone can switch jobs or careers at will, and there's no evidence that it would have any real effect on overall income levels if they did. Let's not pretend that switching jobs has no downside, many people simply find the sacrifices outweight the benefits when their families are factored in to the equation. Perhaps if more of those who "played the safe route" could play your game instead, you'd find fewer companies interested in your abilities, as they'd have a larger pool from which to choose.

    Favorite    Flag as abusive Posted 01:10 PM on 04/09/2008

Millions of middle class Americans did not think gays and lesbians were entitled to equal protection under the law, so they voted for a president who shared their views. Now they are paying the price. Maybe if they pray extra hard, God will bail them out. As bad as these people think they have it now, things will even be worse for their children. Of course, the Democrats aren't entirely blameless in this fiasco either. They keep funding the war in Iraq, they keep voting for pork barrel spending, they support the use of corn to make ethanol (driving up the price of food) and they are largely responsible for all those environmental rules that drive up the price of gasoline in California to levels well above the national average.

    Favorite    Flag as abusive Posted 10:45 AM on 04/09/2008

John McCain says we should all just get a 2nd job. See, another problem solved

    Favorite    Flag as abusive Posted 10:26 AM on 04/09/2008

But, he neglected to add that while we work those 2nd jobs, our 1st jobs will be sent overseas.

    Favorite    Flag as abusive Posted 10:58 AM on 04/09/2008

Apparently this is a surprise only to the New York Times and to the trolls who infest the blogs supporting the Bush Crime Family.

I've always been mystified by working people who were wearing cheerleaders outfits for the criminal gang that was trying to ruin them.

    Favorite    Flag as abusive Posted 10:22 AM on 04/09/2008

Middle class? What middle class? After all of his destructive criminal policies, all that remains is Bush's base and the rest of us.

    Favorite    Flag as abusive Posted 10:06 AM on 04/09/2008

The 1% and nobody else will profit -- it has been decreed by the King

    Favorite    Flag as abusive Posted 10:25 AM on 04/09/2008

This is only news to the elites of this country(and they don't care), the middle class has been living it for 20+ years. It started with the dismantling of our manufacturing base and has not stopped since. Also, the middle class has been using their homes like an ATM, a big no-no in my book. Learn to live within your means(you don't need all the latest garbage).

p.s. Huffpo, I don't understand why my comment to Speake Palosi's blog was not displayed, everything I said was true, and I didn't insult anyone.

    Favorite    Flag as abusive Posted 09:41 AM on 04/09/2008

The headline should read "Boom Engineered by Bush Co. to Eliminate the Middle Class".

    Favorite    Flag as abusive Posted 08:56 AM on 04/09/2008

It was actually engineered by the Reagan Administration and finished off the the Bussh Admin.

    Favorite    Flag as abusive Posted 09:42 AM on 04/09/2008

I agree, and it amazes me more people don't see it.

    Favorite    Flag as abusive Posted 05:39 PM on 04/09/2008

The very morons that elected him. Go figure?

    Favorite    Flag as abusive Posted 09:12 AM on 04/09/2008

too bad they can't afford that beer they wanted to have on the porch with their boy

    Favorite    Flag as abusive Posted 10:26 AM on 04/09/2008

Bush backers mistakenly thought he'd be buying!
Morons.

    Favorite    Flag as abusive Posted 12:33 PM on 04/09/2008
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