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Why Americans Have to Work Longer Hours and Borrow to the Hilt Just to Keep Afloat

Business  (tags: economy, middle class, immiserization of the middle class, recession, recession crushes poor, politics, society, news, money, government, finance, consumers, business, usa )

- 2844 days ago -
The fundamental economic challenge ahead is to restore the vast American middle class.


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AWAY AWHILE Cal M (1065)
Monday June 6, 2011, 3:47 pm
An incredible challenge, for sure

Shelly Peterson (213)
Monday June 6, 2011, 4:34 pm

Carol H (229)
Monday June 6, 2011, 5:37 pm
thanks Cal, noted

Monday June 6, 2011, 7:49 pm

Barbara Erdman (63)
Monday June 6, 2011, 8:52 pm
OH MY and noted Cal :-0

chris b (2474)
Tuesday June 7, 2011, 12:24 am
Disregarding the blame game played by politicians the primary reason for working long hours is no different to the UK. The race to enjoy all beyond one's means in the first place in the "live now pay later" society that first evolved in the US and spread elsewhere! Everyone aspires to not only keep up with the Jones but even exceed their profligate lifestyle! It is evidenced by the political parties of the US and UK that as they go in and out of office little changes for the man or woman in the street and the parties expend so much energy blaming the last lot in office that they appear to forget what they were elected to do and seeing as the current Governments of our two great nations are at opposite ends of the political spectrum I would find it hard to differentiate their aims from that of the previous administrations in both cases if I were to be honest but that is a word not associated with politics The credit problem which is the real root of all the monetary problems is a combination of bankers speculation and gambling at one end of the scale and the advertising industries relentless assault on the citizen fueled by big business on a daily basis to borrow more and have more that we cannot really afford all dressed up in the verbiage of material achievement thus we have 4x4's we don't need kitchens are discarded with no real reason makeovers are generated by the plethora of TV pro-grammes encouraging us to gut out our homes on an annual basis according to some designers whim and of no practical need! Nowhere is this more ably demonstrated than the vast array of electronic junk and gizmos foisted on our children and us as the latest must have in perpetual line of obsolescent rubbish that elicits a child abuse trauma if not instantly provided! What ever happened to those old fashioned values of thrift and discipline beloved of my parents and grandparents! Oh yes they where disposed of by the right and left and religious extremists in pursuit of the riches of subjugating the masses for gold and lining their own pockets with the gaudy metal of their own hypocrisy!

beba h (89)
Tuesday June 7, 2011, 2:37 am
Naomi Klein's book the "Shock Doctrine" tells the real story.

Sara L (23)
Tuesday June 7, 2011, 4:07 am

Alexandra Rodda (180)
Tuesday June 7, 2011, 7:48 am
Americans have brought this on themselves. They'll have a chance in 2012 to undo it. Vote for the Democtrats already!

William Y (54)
Tuesday June 7, 2011, 2:38 pm
Roger that Alexandra

Myron Scott (70)
Tuesday June 7, 2011, 2:58 pm
Better yet, vote for true progressives when possible. That will preclude voting for some Democrats, but these days it will preclude voting for ALL Republicans.

Myron Scott

. (0)
Tuesday June 7, 2011, 4:22 pm
America became great because there was no competition. Once there was competition, we were too arrogant to change and were eventually outdone by numerous other countries. Then our upper class with the help of the government, starting with Reagan, started squeezing all they could from the middle class and poor. Now, they can't squeeze anymore from the middle class and poor without enslaving them so they move onto other countries that care even less for their middle class and poor.

Kimberly Bennett (8)
Tuesday June 7, 2011, 4:50 pm
Can't blame it on us to keep up with the Jones! That started when credit cards etc everybody had to have one etc. Outrageous rates and gov finding reason to demand more money from us while they get rich off of us. It got to stop somewhere! If u got a credit card cut the dam things you don't need it and you don't need to borrow from Paul to pay Peter either. That is the cause of financial hardships. That is what the gov has done beside taking away our money and property.

April Thompson (2)
Tuesday June 7, 2011, 5:15 pm
Noted sadly and shared!

Susan Stebbins (11)
Tuesday June 7, 2011, 5:42 pm
Hmmm, does the term "trickle down economics" remind you of this?

Craig Zimmerman (86)
Tuesday June 7, 2011, 7:26 pm
I have had the feeling for years that America is running on empty. We have been borrowing like crazy to try and maintain our lifestyle while exporting jobs overseas, but it's not working anymore.

Edward Catterton (14)
Tuesday June 7, 2011, 8:07 pm
noted, aho.

leanne Torio (244)
Wednesday June 8, 2011, 6:53 am
When the economy is in the sewer then we are really going to see the voiceless hurt even more and it is imperative that we stand up for the animals, children and elderly ever more vigilantly, because they will take the full brunt.
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