Bending the Third Rail
Because We Should, We Can, We Do
Monday, October 02, 2006
Middle Class is Losing Ground
What middle class?

WASHINGTON (Reuters) -- The typical double-income family is worse off financially than ever, a study released Thursday said, warning that few Americans have saved enough to brace for financial setbacks.

Middle-class families are struggling to pay for a home, health insurance, transportation and their children's college with wages that have not kept pace with higher prices, according to the study by a think tank headed by a former top aide to President Bill Clinton.

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Higher prices for a range of things - including health care, energy, transportation, food and education - have put Americans in this position as corporate profits have risen, the study said.

It said, that five years into the current economic recovery, average job growth is one-fifth that of previous business cycles and wages are flat when inflation is factored into the equation.


Even as corporate profits have risen. How nice. And if the past five years have been considered an economic recovery, I'm not sure we can take much more 'recovering'. Sounds like the whole country needs a meeting.

Written at 9:29 AM by Lynne.
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