The Startling Truth About How Working Families Are Truly Faring In This Economy

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Family Photo - Public DomainIt is hard to live the American Dream when the deck is stacked against you.  Our politicians stood idly by as millions of good paying jobs were shipped overseas, our economic infrastructure was absolutely gutted and multitudes of small businesses were choked to death by miles of red tape.  Now, we are reaping the consequences.  In America today, nobody has a job in one out of every five families, and there are more than 100 million working age Americans that are currency not working.  And thanks to our transition to a “service economy”, many of those that are actually working are deeply struggling too.  According to the Social Security Administration, 51 percent of all American workers make less than $30,000 a year.  And the Federal Reserve says that 47 percent of all Americans could not pay an unexpected $400 emergency room bill without borrowing the money from somewhere or selling something.  That means that about half the country is flat broke, and things get even more precarious for working families with each passing day.

 

Of course the plight of working families is not something that is new.  Back in the 1950s and 1960s, wages and salaries earned by workers accounted for around half of all gross domestic income.  But since 1970 there has been a precipitous decline, and during the Obama administration we hit an all-time low.  In other words, the share of the pie being enjoyed by working families just keeps getting smaller and smaller and smaller.

Share Of Gross Domestic Income

All over the country, median incomes have been falling for years.  This is putting an incredible amount of financial stress on working families, and we have seen poverty grow explosively in the United States during the last couple presidential administrations.  According to one study, median incomes have fallen in over 80 percent of the major metropolitan areas in this nation since the year 2000…

A major new analysis of income in America published by Pew earlier this month found that more than 80% of the country’s 229 metropolitan areas have seen real (inflation-adjusted) incomes fall steadily since the start of this century. Some of the steepest declines in median incomes have been seen in cities hit by industrial decline – for example a 27% drop in Springfield, Ohio and 18% in the conurbation that includes Detroit. But, ominously, even fast expanding success stories have seen incomes falling.

The area around Denver, Colorado, has seen its population grow by 600,000 since 1999, but its median income has fallen from $83,500 to less than $76,000. Similarly Raleigh, North Carolina, is a fast-growing city buoyed by a cluster of research universities and biotech firms; the population has shot up from 800,000 to 1.3 million this century. Yet its middle class has shrunk from 55% of the population to 50%, and median incomes have fallen by more than $11,000 to about $74,000.

Once upon a time, the middle class was a solid majority in this country.

In fact, 61 percent of all Americans were considered to be middle class back in 1971.

But now, the middle class in the United States is becoming a minority for the first time ever

“After more than four decades of serving as the nation’s economic majority, the American middle class is now matched in number by those in the economic tiers above and below it,” the Pew report said. “Since 1971, each decade has ended with a smaller share of adults living in middle-income households than at the beginning of the decade, and no single decade stands out as having triggered or hastened the decline in the middle.”

One of the big things that is destroying the middle class is the death of entrepreneurship.  For decades, small business creation was one of the primary engines that helped fuel the growth of the middle class, but in recent years small business creation has fallen to depressingly low levels

Fewer new businesses were created in the last five years in the US than any period since at least 1980, according to a new analysis (pdf) by the Economic Innovation Group (EIG), a bipartisan advocacy group founded by the Silicon Valley entrepreneur Sean Parker and others. Businesses that did form are also far more concentrated than ever before: just 20 counties accounted for half of the country’s total new businesses. All of them were in large metro areas.

It’s hard to put into scale the collapse of new business formation. We have no precedent for that rapid and steep of a collapse,” said John Lettieri, co-author of the report and co-founder of EIG, in an interview. “It will have a ripple effect in the economy. You‘re going to feel that impact five, 10, and 15 years in the future.”

Of course just about every other economic indicator shows the dramatic decline of the middle class as well.  As you can see from this set of charts from Zero Hedge, median family income, the labor force participation rate and the rate of homeownership are all way down over the last decade.  Meanwhile, the U.S. national debt, the number of Americans on food stamps and healthcare costs are way up.  Does that sound like a “healthy economy” to you?

Obama Economy - Zero Hedge

Unfortunately, this is about as good as things are going to get.  A major new economic downturn is already brewing, and layoff announcements at major firms are running 24 percent higher this year than they were last year.

The America that most of us grew up in is dying, and what we have seen so far is just the tip of the iceberg.  If you follow my work closely, then you already know that I believe that much, much worse is coming.  But our leaders just continue on with business as usual.  They keep doing the same things over and over again, but they keep expecting different results.

What they are doing to “fix” things is not going to work, and that should be exceedingly apparent to everyone by now.

We need to start valuing working families again, and that means encouraging the growth of small businesses and encouraging the creation of middle class jobs.

Sadly, we have already entered the early stages of the next great economic crisis, and so things are going to get a whole lot worse for the working class before there is any chance of them getting better.

*About the author: Michael Snyder is the founder and publisher of End Of The American Dream. Michael’s controversial new book about Bible prophecy entitled “The Rapture Verdict” is available in paperback and for the Kindle on Amazon.com.*

  • VigilanteCaregiver

    Not much else to say: did a really good job on this, Mike. Well done! :)

  • Earth is a spiritual planet not a material one. We have seen similar empires collapse. America was built against God Principles but not Americans. Americans still have opportunity to be spiritual.

    So what’s the big deal here. It was bound to happen. It’s just that Americans were not told that this is how it’s going to play out. We know the elites conspiracy to kill America etc but they too are bounded by laws of Earth.

    No Material wealth has ever stood the chance against the might of God. I think Americans should be happy. Americans have not lost anything. Just fakeness have been destroyed around them :)

    Cheer up guys…

    • Jim Davis

      Last time I checked, Earth was made of earth. What UB smoking?

    • James

      earth is made up of all the elements in the periodic table up to uranium, the heaviest natural element.
      America was built against God Principles but not Americans. Americans still have opportunity to be spiritual.
      America is not spiritual to the point of stupidity? LOL. Explain the Hobby Lobby case, the idiotic temperance movement, the resistance to public education and government services, anti-intellectual religious nutjobs, people rallying against the Roe case, the hatred towards evolution, climate change, genetics, and gene sequencing. Yeah, America is spiritual.

      There is alot of religion and spirituality in the USA

      • 123vbe

        As far as climate change goes maybe we don’t want a carbon tax!

        • James

          What do carbon taxes and religion have to do with each other?
          Climate change can be solved with other methods that do not contain a carbon tax.

          • 123vbe

            but carbon tax is what elite would most likely push 4 right?

          • James

            who are these elite?
            And if they are elite, they probably own industrial facilities and don’t want carbon taxes. Maybe the elites such as Koch and the executives of manufacturing companies push hard for the non implementation of carbon taxes.

    • charlie

      “No Material wealth has ever stood the chance against
      the might of God.”

      Really? Tell that to the people who run this country, They have the wealth, thus the power and make the rules, not god.

  • Robert

    It is a matter of redistribution of wealth only it is the middle class footing the bill. The rich protect themselves as they always have and and always will.

    • iris

      I think this has been the plan all along: Destroy the nuclear family, Print fiat money, Tax and regulate small businesses to the point that they must fold, Ship good jobs oversees, Kill the children who would have been born, and in turn, let illegal immigrants join the labor force to replace them (Europe has done this, also), I’m sure there’s more to the list. We have been incrementally, but very certainly, and now, quickly, probably soon, very quickly, moving towards a one world governance, religious paradigm and economy. This was prophesied long ago, in Daniel, and in Revelation. Christians can look up, for our Redeemer’s return is near. He will bring true equity, peace and justice to the planet. No matter how dark it gets, He is still in control.

  • greanfinisher .

    America was never a great nation, but it certainly went down the tubes fast since the 1963 Kennedy coup d’etat.

    • James

      America was never a great nation, but it certainly went down the tubes fast since the 1963 Kennedy coup d’etat.

      Ha no. The majority of pharmaceutical drugs were approved after 1963, rural utility access is increased, computing, communication, and computation are also improved. I like living in a world with pharmaceuticals, scientific advancements, and computers over some religious dogma B.S about coffee, dancing, reading, education, and college attendance being a sin.

      Unfortunately life expectancy is also up for religious leaders, working class people, and blue collar workers which means that they live longer to vote for their stupid religious, anti-intellectual ideals on to everybody else and stop scientific progress, and societal advancement.

      • Gay Veteran

        hey moron, life expectancy now on the decline

        • James

          According to what right wing rag? Average life expectancy is increasing according to both CDC and NIH.
          If you could provide a reputable non CDC, non NIH source, then we may debate.

          • 123vbe

            Always making atheists look bad!

          • James

            When you don’t have objective statistics, go straight to ad hominem I see.
            Also it is nonbeliever not unbeliever.

          • 123vbe

            nonbeliever unbeliever is basically same
            so you’re doing like a political correctness lol!

          • James

            ad hominem when you can’t attack my points.
            LOL

          • 123vbe

            typical james, maybe i;m tired of wasting life online

          • James

            Can’t find problems. Quits

          • 123vbe

            always has to have the last word

          • James

            Reverts back to ad hominem because s/he can’t find data to support

  • John

    Stockman’s Corner

    Losing Ground In Flyover America——Wanting For Work, Buried In Debt, Part 4

    by David Stockman • June 1, 2016

    prime working age

    “There are currently 126 million prime working age persons in the US between 25 and 54 years of age.”

    How many men of prime working age have bread winner jobs ?

    • James

      It’s called Flyover America for a reason. The people there are stupid, anti-intellectual, pious, and can’t analyze for crap and won’t go to college even though the colleges will give them full rides for 2.0 GPA’s and a 12 on the ACT.
      And then they are poor with no education due to their anti-intellectualism and hate Obama. Go figure

      • Gay Veteran

        troll.

        • James

          Ad hominem without attacking my point.
          Typical emotional trash that can’t do anything

  • James

    Good for them.
    Anti-intellectual, religious, scumbags that are the working class are getting what they deserved

    • Mistanick

      James, so you equate “religious” people with ” scumbags”.

      Well, I will defend to the death of me the kingdom of Jesus Christ who I serve.

      The basis of a man is spiritual. He either faces it and worships his creator or walks away and rejects it. You are the one to choose. When you die, your soul will live on and your acceptance or rejection of God will determine where you will abide for eternity.

      • James

        Data please

  • James

    Perhaps, if these working class people are so poor, they could go to college for very low cost and get a degree in something that pays well.
    Computer Science, Finance, Accounting, Biotechnology, Engineering, etc.
    Oh right, they are anti-intellectual idiots who vehemently hate all education; murder people with books; and think that a 25 on the ACT is a sin

  • James

    And thanks to our transition to a “service economy”.
    That’s bad? Looks like anti-intellectual middle class crap values are at it again.
    Manufacturing and agriculture jobs are not civilized, and cause society to regress at a exponential rate. They are cesspools of filthy, low paid workers.

    On the other hand, services such as
    finance, investment banking, biotechnology actually make society better and civilized while not giving people chronic diseases that actually pay well! WHO KNEW?

  • James

    Perhaps, if these working class people are so poor, they could go to college for very low cost and get a degree in something that pays well.

    Computer Science, Finance, Accounting, Biotechnology, Engineering, etc.

    Oh right, they are anti-intellectual idiots who vehemently hate all education; murder people with books; and think that a 25 on the ACT is a sin

    • Gay Veteran

      troll

      • James

        Ad hominem

        • DelmarJackson

          James, I do not agree with you but I am enjoying your comments. I have a different tack. I think a big part of the loss of the middle class has been due to offshoring, immigration and automation.

          • iris

            Agree.

  • James

    Good for them.

    Anti-intellectual, religious, scumbags that are the working class are getting what they deserved

    • ISA41:10

      Spoken like a socialist loser!

      • James

        Nah, I don’t like anti-intellectual non-analytical people that can’t look at data yet expect large paydays

      • James

        I also am not a loser. I’ve done bond analysis, international finance, and workforce streamlining.

        • Mr. Cipher

          We’re e all impressed.

          • James

            Thank you

          • Mr. Cipher

            I’m an astronaut.

          • James

            Congrats.
            What is your alma matter?

          • pulltheweeds

            lol

  • James

    And thanks to our transition to a “service economy”.

    That’s bad? Looks like anti-intellectual middle class crap values are at it again.

    Manufacturing and agriculture jobs are not civilized, and cause society to regress at a exponential rate. They are cesspools of filthy, low paid workers.

    On the other hand, services such as

    finance, investment banking, biotechnology actually make society better and civilized while not giving people chronic diseases that actually pay well! WHO KNEW?

    • Mistanick

      James, service jobs such as banking and banking
      ( finance) and biotech (big pharma??) never will make society better nor will fast food jobs, motel workers, or other unskilled work. They serve society in their own special way, but they don’t result in a rise in goods and gross domestic product which is the basis for a robust economy. They serve, but need people to serve to.

      When a shirt is made, it results in jobs in factories that make it, other jobs that make the fabric, machinery that sew it, bundle it, and ship it. Manufacturing jobs create a ripple effect in an economy that service jobs do not do. Sure, an insurance company or bank buys copier paper and ink and chairs to sit people on, but selling their product requires a customer. Banks won’t make much money selling their loans to their own employees. Hotels won’t make much money housing the cooks and maids who work there.

      When WWII broke out, the USA was able to respond with great force because of our industrial base at a rapid rate. This industrial base has been eliminated. Service economies won’t go very far to fill this need.

      • James

        Lets debunk your first point that finance and biotech don’t help anyone..
        Finance does make society better by better funding the enterprises and institutions that require capital. How could Gilead Sciences or Google originally gotten of the ground if it wern’t for finance companies capital..
        Biotechnology in the form of pharmaceuticals have helped countless Hepatitis C, hemophilia, cancer, Alzheimers, rare disease and HIV patients.

        . They serve society in their own special way, but they don’t result in a rise in goods and gross domestic product which is the basis for a robust economy. They serve, but need people to serve to
        You conveniently forgot that GDP includes goods AND services.

        • Mistanick

          Gosh, James, you sound like a Clinton or Bush apparatchik. Doesn’t work anymore, James. Does not.

          Big pharma or “Wall St.” will never build a robust society. Never. A “service” economy will ultimately fail when no one can buy the services that are being sold.

          Maybe you haven’t driven through the midwest of the USA and seen the closed up shops, factories, and decaying infrastructure in our heartland. Maybe you haven’t spoken to the folks who lost their homes and businesses due to the sell out by our elected representatives (Repubs and Demos) who allowed TAX INCENTIVES for the off shoring of their manufacturing. It’s pure corrupt evil politics and there is nothing you can say to defend it.

          Take your Wall St. banks and big pharma and try to build a society. Can’t be done. The impetus behind it all is to localize the wealth behind the few and destroy the middle class that made our country great. Period.

          • James

            Gosh, Mistanick, you sound like a union leaader apparatchik. Doesn’t work anymore, Mistanick. Does not.

            Big pharma, technology, or “financial centers.” will never build a robust society save the obvious examples of San Francisco, Seattle, New York, Switzerland, Tokyo, and London. All these cities/countries are near deserted, poor, and bankrupt, oh wait…they are some of the worlds most prosperous settlements.

            Maybe you haven’t driven through the CBD’s of Seattle, San Francisco, or New York of the USA and seen the florescent lighted office buildings trawling with office workers, vibrant buildings, bright street lighting, and congested roads in the non-heartland trash. Maybe you haven’t spoken to the folks who got bachelors from flagship state, and regional universities and whom are now living life prosperously as DINK’S. Due to the sell out by our culture and government that funded financial aid and removed the stigma of not having children It’s pure corrupt evil politics and culture and there is nothing you can say to defend it.

            Try building a factory without funding from financial institutions and providing healthcare without pharmaceutical companies. Can’t be done. The impetus behind it all is to localize the wealth behind urban areas and then make everyone migrate to the urban areas

          • Gay Veteran

            hey Einstein, how many people actually work in Big pharma, technology, or “financial centers”?

            “…providing healthcare without pharmaceutical companies….”

            ROFLOL, we spend nearly 20% of GDP on “health” care when it should be 5%.
            the “health” care system are bigger frauds than the banksters

          • pulltheweeds

            put down the sunday new york times

          • James

            What are you talking about. I don’t read NYT, I look at data. San Francisco, Seattle, and New York City are full of DINKS with college degrees enjoying the high life.

            Also, stop committing the genetic fallacy and actually criticize my points.

        • Gay Veteran

          explain to everybody how 10s of MILLIONS of Americans can just go into finance, investment banking, biotechnology

          • James

            Get a degree, and then apply for some of the multitudes of unfilled jobs. Simple.

            And I never said those were the only three fields.
            Finance, investment banking, biotechnology, information technology, engineering, business management, accounting, sales, marketing, advertising, health care, publishing are all jobs that pay well

        • Gay Veteran

          “…Finance does make society better by better funding the enterprises and institutions that require capital….”
          when they aren’t busy engaging in FRAUD

          • James

            The majority of banks do not engage in fraud. I never hear a story of mid-size, or regional banks engaging in fraud, nor have I heard a story about Morgan Stanley, NASDAQ, or CME ripping off a biotech company in IPO

    • Gay Veteran

      oh yeah, 10s of MILLIONS of Americans can just go into finance, investment banking, biotechnology

      • James

        Get a degree in the right field.
        Undergraduate degrees are not hard to earn, but you need to pay attention and do the assignments, something working class america is not capable of doing. Afterwards apply for some of the multitudes of unfilled jobs. Simple.
        And I never said those were the only three fields.
        Finance, investment banking, biotechnology, information technology, engineering, business management, consulting, accounting, sales, marketing, advertising, health care, publishing are all jobs that pay well

        • Martin

          I pray that the bravado whatever job you currently have, Mr. Career Counselor, has created doesn’t come crashing down around you in your mid fifties, and leaves you in a condition where you DON’T know everything.

          • James

            Nah. I already have enough cash and stock options to ride it out. I can also depend on my large stash of treasury bonds, and dividend stock income

        • L O

          All of your examples are jobs that lack any sort of tangible skill… while the accountant and business major is out pounding the pavement looking for someone to hire him… the plumber is quietly knocking down 100k a yr.

  • braindiseasecalledliberalism

    This erosion / evisceration of the American Middle Class and Small Business is not just “occurring” by “happenstance”!

    It’s by the design of the NWO elitists!

    You cannot destroy a country (the elitists’ sole burning desire) without:

    -Spending / wasting the country’s resources / money on frivolous spending and all out corruption, destroying the Middle Class and Small Business, etc. all under the guise of “wealth redistribution” and “equality” for all.

    -In a similar vein, they need to create division by economic class – they continue to bolster / give unending money to the fat cats on Wall Street, while at the same time – not only ignoring – but deliberately hurting Main Street.

    -Create racial and gender division and perverting society as a whole by transgender, destruction of the American traditional family, etc.

    Not to be a pessimist, but it appears that Evil is in the driver’s seat and is destroying all that is GOOD and pure on a daily basis!

    Sadly, I see no indication at all that any of this is going to change – only get much, much worse!

  • rmc9

    James, you feel better now? You got to let it out…or it will kill you. :)

  • Isaac

    Dave Hodges said on the Common Sense Show to someone who asked what his college-bound daughter should major in, “tell her to apply for welfare.”

    Is the situation so bad that people have to resort to welfare now?

    Is the prospect of getting a decent paying job an illusion?

    Are college graduates in for a rude awakening?

  • Mistanick

    “We need to start valuing working families again, and that means encouraging the growth of small businesses and encouraging the creation of middle class jobs.”

    Wow, huge topic and many good theories as to what happened and why. The solution as noted above is not enough, not nearly so.

    Cause of the destruction of the middle class: Feminism and Globalization.

    Take the woman out of the home and take Godly influences out too. It worked. With feminism driving women to compete with men for the same job, more folks were seeking jobs than existed. Job creation did not keep up and lower wages resulted overall. The middle class lost.

    With “globalization”, we got a re- birth of cheap, but civilized, slave labor in China and other places. Cheap slave labor degraded lower and middle class incomes. No accident in any of this. Destruction of the middle class was and is done purposefully by greed, but ultimately by satan who seeks to conquer and destroy. It worked.

    • James

      Cause of the destruction of the middle class: Feminism and Globalization.

      Take the woman out of the home and take Godly influences out too. It worked. With feminism driving women to compete with men for the same job, more folks were seeking jobs than existed. Job creation did not keep up and lower wages resulted overall. The middle class lost. Wage earning men were emasculated and in their weakness, learned to accept it and adopt a feminine limp- wristed view as the wage earner. Men are not men anymore.

      FALSE! The expansion and normalization of women in the workforce greatly benefited the growth of fields in business administration, human resources, psychology, library science and other female dominated fields. No discernible decrease in household income, or personal income were noted by economists after assimilation by females into the workforce. Female wages were later pumped into the economy via consumption, and the virtuous cycle of economic prosperity ensued. As for your point about men being weakend, maybe that is so because sometimes females can do things better than males, and since employers care more about can you work vs the sequence of chromosome 23. If females have skills that employers value, I see no problem with females being the primary wage earner. What do you mean men are not men anymore? Men still have a XY chromosome sequence, and the sequence of nitrogen bases has not changed. Men can still work, but now it is based of their merits, not their 23rd chromosome sequence

      With “globalization”, we got a re- birth of cheap, but civilized, slave labor in China and other places. Cheap slave labor degraded lower and middle class incomes. No accident in any of this. Destruction of the middle class was and is done purposefully by greed, but ultimately by satan who seeks to conquer and destroy. It worked.

      Yes, globalization put all the uncivilized factory jobs with anti-intellectual, union scum out of work. That is a giant plus for society.
      Globalization also led to the great expansion of finance, biotechnology, publishing, telecommunication, and information technology to cross international borders creating plethora’s of well paying service job to anyone with an applicable bachelor’s degree. It is really easy to get a bachelor’s degree, college calculus, and organic chemistry can only get so hard.
      These service jobs did not help the piece of trash middle class flourish and instead created the much more civilized professional class.

      • Gay Veteran

        those “uncivilized” factory jobs (what planet are you from???) provides jobs to millions of Americans

        • James

          Oxford Dictionary
          Uncivilized: (of a place or people) not considered to be socially, culturally, or morally advanced.

          Yep, that defines factory workers.

          Why does the number of jobs matter?

        • iris

          Yep. Holding down an honest, steady job is something to be proud of.
          Education is important, and should be taken advantage of when possible, but it can only go so far.

    • iris

      Agree. Aaron Russo made a documentary titled, America, Freedom to Fascism. At the time, he had a friend in the Rockefeller family who told him that the women’s lib movement was planned, not to free women, but to broaden the tax base. He also told Russo that when the mark of the beast came, he would make sure that since they were buddies, one would be issued to Russo which said KMA. Think this documentary was made in the 80s or 90s.

  • VigilanteCaregiver

    How’re we faring? It’s #$%&.

  • Gay Veteran

    “It is hard to live the American Dream when the deck is stacked against you. Our politicians stood idly by as millions of good paying jobs were shipped overseas, our economic infrastructure was absolutely gutted and multitudes of small businesses were choked to death by miles of red tape….”

    That is NOT true. The politicians voted FOR the “free trade” deals and continue to do so to this day.

  • L O

    I have been a simple painting contractor for the last 25 yrs ( service industry ) while the rest of the nation has been scratching their heads trying to figure out how to stay in the middle class, without any real tangible skills or doing any actual work. My income and lifestyle has taken giant steps forward in leaps and bounds, to the point where I have literally 3 or 4 thousand bucks left over at the end of the month after I pay my bills.Before the bubble burst I was painting for homeowners, after the bubble burst, my customers switched to apartment complexes and property managers..as baby boomers are retiring, im getting retirement communities for customers.

    I am constantly approached by people with 4 year degrees asking me for a job, trouble is they lack real world skills and work ethics, and grit. I’m 53 yrs old, and I honestly don’t know how the up and coming generation is going to make any sort of comfortable life for themselves without learning how to work..

    • iris

      so true. When my spouse and I started out, in the mid 70s, we shopped at garage sales, Salvation Army stores, clearances, went out to eat maybe once a month, which was splurging. We were frugal and responsible and didn’t have gadgets and toys, our children had some, but we were able to make house payments on a modest home and had everything we really needed. Our vacations involved camping and fishing in local areas as a family. The two of us worked hard, and to this day, even though things are much better and we’re both going to be retired this year, we still prefer a garage sale over going to the mall. I’d rather buy used things for the recycling aspect of it, anyway, and also feel better knowing that someone in a sweatshop didn’t make it.

      • L O

        You get to the point in life where you get better at saving money than spending it..We yard sale and thrift store shop all the time. I wish you both the best in your retirement yrs.. enjoy those bargains:)

        • iris

          Thanks, L O. None of us knows what’s around the corner, but we know we’re in His hands.

    • Mr. Cipher

      The trades were once considered a noble proffesson. Now your looked down on like a dead beat. They’d rather live in their parents basement than swing a hammer or paint brush.

  • Whiskey7

    And the powers that be tell us things have been improving! All I know is my spending power has gone way down. Lost my house ahh yeah living the American Dream!

    • Mr. Cipher

      It was never really yours.

    • L O

      You can start over, few ever get it right the first time. and Fewer learn from their mistakes… The American dream is still alive, You can still make it work.

      • use cash only

        The American Dream is officially OVER. The bankers won due to American’s apathy and ignorance.

        • I got paid 104000 bucks previous year by doing an on-line job from home a­n­d I did it by wo­rking in my own time for 3+ hrs a day. I used an earning model I found on-line and I am happy that I was able to earn so much money. It’s very beginner-friendly and I’m so happy that I found out about it. Check out what I did… GOBIG92.COM

  • Diane Dina

    Such is the fruit of The Kenyan. Okey Doke. Oops, make that Okey Dope.

  • Enderr

    “Our politicians stood idly by as millions of good paying jobs were
    shipped overseas, our economic infrastructure was absolutely gutted and
    multitudes of small businesses were choked to death by miles of red
    tape.”

    They did not just sit idly by and let this happen, they created the laws and agencies that have strangled our business to death with regulations, fee’s and taxes. Our elected officials and unelected government agency hacks did this for personal greed and power. They have driven the jobs out of America for years and now to stay in power they are promising to “punish” those companies forced to leave for leaving. Of course the punishment is to raise taxes on their goods, paid for by We The Sheeple to the elected traitors to buy their next election.

  • walcon

    It’s all going just as planned. This was not an accident!

  • Richard_Throbbin

    The dimwits cult leader stood in front of the cameras and said “Recessions over”, guess he needs to say it a few more time to make it “real”……….

  • tobyw

    Business can only afford so much total compensation as a percentage of the value created by the employee.

    Some factors that compete with wages are FICA taxes which have gone up by a factor of 12 from one pct, health insurance which has climbed, all the unincluded costs of regulation and tort, which are not included in the official figures. Additionally, the US had little competition from Europe and Japan after WWII until they had had a chance to rebuilt from the war. Total compensation has increased, not fallen.

  • Captain America

    Elites have done great in this economy. What do they care if the rest of us flounder…