On Friday, Arianna Huffington joined New York Times columnist Thomas Friedman and economist Jeffrey Sachs to discuss America's shrinking middle class on 'Morning Joe.'
Cohost Willie Geist prompted the panelists with numbers from a recent Census report, which showed that nearly half of Americans have fallen into poverty.
"We now have 1.6 million children that are homeless, and 5.6 million children living in poverty," Arianna said about the survey, remarking that the increase had occurred during a Democratic administration, a sign that no president is able to confront the country's starkest challenges.
"It's not about right and left, it's not about Democrats and Republicans, because whoever is in power right now, we still cannot deal with the biggest crisis we're having, which is the squeezing of the middle class and downward mobility -- 100 million people today are worse off than their parents were."
Friedman said that America's priorities are out of wack with prevailing economic trends around the globe.
"If you look at the biggest trends in the world right now," he said, "the fact that we're in the third high-tech revolution, the hyperconnectivity going on, the fact that we've got companies thriving at that, but so many people left behind by it -- that to me should be at the centerpiece of our discussion, and it's simply not."
As for solutions to the country's crisis, the panelists proposed a new stimulus package (Friedman), more taxes for the wealthy (Sachs) and a re-emphasis on the need for growth to solve the deficit crisis (Arianna).
Watch the whole segment below:
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Thank you again for shedding desperately needed light on this devastating trend. How can we possibly turn away from a darkness that is eating at the very soul of our nation?
Heartrending Report on America’s homeless children from CBS’ 60 Minutes:
“Hard Times Generation”
http://www.cbsnews.com/video/watch/?id=7389750n
“Sharp Rise in Homeless Children, Study Says”
http://www.npr.org/2011/12/15/143781048/sharp-rise-in-homeless-children-study-says
But what is your clever comeback for someone who loses their effing house because they can't pay the property taxes on it? I guess that's just their fault huh?
Currently the revolt has been a very peaceful middle class Occupy Wall Street. But if these pleasant middle class protesters are not heard and action taken, the revolt will move to the lower class. The lower class people are the one who have nothing left to lose. They have lost their jobs and their savings and homes have been ripped off by wall street. There people need basic essentials: food, clothing and shelter. They now make up 20+% of our population. Many of them are vets, who are living in our streets and parks. When this group revolts, it will not be pleasant.
We need elected officials that have the morality and backbone to stand up and make the changes needed to save our country. Spending $600 billion on a military budget will not save us. We need to move 50% of this to restoring our middle class.
Correct economic inequity by admitting to and ending policies that got us here - however painful that change may be. In education, end social promotions and give parents choice. It took us a couple of decades to get here and it will take us a couple of decades to get out; but we have to start.
Some inequities are created by govt taking money from working Americans (aka taxes- 50%). That money is used to provide programs to the poor; but in reality money goes directly to corporations. Follow the money in education (school and college), food stamps (including Ag subsidies), Medicaid and Medicare, Military, foreign aid, transportation, etc. Some of this money gets back to politicians as campaign contributions.
Regards housing, most people bought homes as part-investment. People loose on their investment all the time; especially now in the stock market. Does the govt have a bail-out plan for them? Is the govt helping the poor home-owner; or are they rescuing bankers and corporate interests?
The home-owner in financial difficulty can find ways to rent part of their home. Most NY city residents do so! Or ask one's parents or siblings to move-in in an help-help and win-win relation.
Arianna and the others know exactly what's happening in our country today.
This required the Fed to react and increase money supply to save the economy from total collapse. As a result, interest rates fell. It's cause/effect.
If you understand economic reality, then you know Bush caused the rates you're looking for to fall as an unintended consequence of his actions.