Sunday, May 13, 2012
What about the middle class woes?
Since this economic crisis the world over and especially in the U.S. the class which has been squeezed the most has been the middle class. Their wages have either been cut or reduced or they have suffered the most in terms of job losses. Everybody talks about how the middle class is being effected and how they can help them but in reality, there is very little help that can be done since the jobs which were a pathway to middle class are vanishing in alarming numbers either outsourcing or being replaced by jobs which either pay very less or are highly technical to begin with. The construction industry which use to employ a lot of people have been devastated by this economic downturn and it has hit the middle class really hard. For once there is a fear that this generation of middle class people will be worse off than the parents who enjoyed the great manufacturing boom after World War II. The changing economic landscape is not only effecting the present generation of middle class but also their offspring since they are unable to help their offspring's achieve their dream of going into top notch colleges or graduate debt free or get help in buying a new house. There is no answer to these problems just plain empty rhetoric which does not help in anyway the plight the middle class is in.