Monday, October 22, 2007

Real people vs. The Economy

More proof that everything's just not as great as they say. This article is on the classic paycheck to paycheck lifestyle that many middle class Americans live everyday. More and more those people are finding it difficult to make their paycheck last due to rising costs for basic needs. This goes along with two topics we've touched on earlier. One, that a huge difference between now and 20 years ago is how much it costs just to live in the United States. Sure we still have such a rich economy and resource base that less people are starving or without basic shelters than in other countries, but simple necessities like toiletries and clothing are getting to be priced so highly that some people are skipping meals and whatnot in order to afford buying things like gas and paying rent. The other topic this touches is the economic disparity between upper and middle classes. In the 60s, things reached a nice happy medium thanks in large part to the New Deal years earlier. The top earners in the country held approx. 50% of the country's wealth, while middle income wage earners held the rest. Now that disparity has increased to pre-depression eras wherein the top 10% of the country now has 90% of the wealth, leaving that remaining 10% to be divvied out to the rest.

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