America’s Middle Class Crisis: The Sobering Facts

This stunning article and video shows what globalization and all the bail-outs have done to America's middle class.

If the American people don't wake up, they will find themselves living in a third world country's economy very, VERY soon.

Link to Video

Here are just some of the sobering facts:
-- There are 8.5 million people receiving unemployment insurance and over 40 million receiving food stamps.
-- At the current pace of job creation, the economy won't return to full employment until 2018.
-- Middle-income jobs are disappearing from the economy. The share of middle-income jobs in the United States has fallen from 52% in 1980 to 42% in 2010.
-- Middle-income jobs have been replaced by low-income jobs, which now make up 41% of total employment.
-- 17 million Americans with college degrees are doing jobs that require less than the skill levels associated with a bachelor's degree.
-- Over the past year, nominal wages grew only 1.7% while all consumer prices, including food and energy, increased by 2.7%.
-- Wages and salaries have fallen from 60% of personal income in 1980 to 51% in 2010. Government transfers have risen from 11.7% of personal income in 1980 to 18.4% in 2010, a post-war high.

The party is OVER!

If some knowledgeable ATSer knows how to embed this Yahoo video, I would be grateful!

I wonder if more people will opt out of going to college if there is no jobs to support there field of interest.

Dangerous cycle this creates.

reply to post by Elostone


The party may be over but we still keep trying. I, like you, most likely know of friends and family members who have suffered over job losses and loss of homes. Me, I keep fighting the good fight and hope that things will improve. I do believe that working middle class Americans are going the way of the dinosaur but I also know that we will do everything we can to not fall into the depths of poverty and public assistance. I personally would work two, three nasty jobs so I wouldn't lose everything because I want to succeed. Some of us give up, some of us stand up and fight harder. No one ever promised me that life would be easy. Yeah, the facts are sobering indeed.

Originally posted by StarformNJ
I wonder if more people will opt out of going to college if there is no jobs to support there field of interest.

Dangerous cycle this creates.

I think more young people are opting out of four year college. I think that the young people today need to be smart about their careers. Sometimes a technical degree that is a shorter term degree and less expensive is the way to go. I would probably have a fit if my son decided to major in Ancient Art History, I mean how valuable is that going to be? I feel that a very specific degree that teaches you an actual trade is the way to go.

I believe it has been dead, since soon after 9/11. Finally admitting to it just confirms what has been covered up.

There was a recent thread on exactly this subject and source. Please continue the discuss there, thank you.

Thread Closed.