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The New Poor
Here's a rather depressing article from the New York Times.
BUENA PARK, Calif. - Even as the American economy shows tentative signs of a rebound, the human toll of the recession continues to mount, with millions of Americans remaining out of work, out of savings and nearing the end of their unemployment benefits. Economists fear that the nascent recovery will leave more people behind than in past recessions, failing to create jobs in sufficient numbers to absorb the record-setting ranks of the long-term unemployed. Call them the new poor: people long accustomed to the comforts of middle-class life who are now relying on public assistance for the first time in their lives — potentially for years to come. NYT: Millions face years without jobs - The New York Times- msnbc.com |
Rather than be depressed, one might think "The Old Grey Tramp" might conclude that many decades of increasingly viral taxation, spending and debt is not the path to increasing investment and economic growth.
I doubt they will ever reach that conclusion. |
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AHhhh yes.. good old FDR and Woody Wilson *barf*
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Like it or not, Rome has fallen..........again!
atp |
Does anyone think that the unemployment rate will stay the same or rise with more and more college grads going into the market for the first time?
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The Heritage Foundation took a look in 2007 at the 'new poor'. ??
How Poor Are America's Poor? Examining the "Plague" of Poverty in America | The Heritage Foundation |
Originally Posted by mmaviator
(Post 791381)
Does anyone think that the unemployment rate will stay the same or rise with more and more college grads going into the market for the first time?
What I find interesting is that this country's manufacturing is in such a irreversible trend and that the service sector with it's low rates of income is expected to increase and therein lies the problem for this country's future and I,m beginning to think that this is all by design . Who would have thought 20 years ago that we as a nation would get to the point of borrowing money from a communist country . Ally |
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