Now that we’ve killed Osama bin Laden, produced President Obama’s birth certificate, silenced Donald Trump and backed off of Medicare cuts by Republicans, can we now focus on finding jobs and fixing the economy? In April, it was estimated that over 240,000 new jobs were added. Of that number over 50,000 were added by McDonald’s Corporation. While those numbers sound commendable, it is now estimated that at our present rate of job increase, it will take until 2018 before we return to full employment.
Most Americans now believe that their children will be worse off. Many persons with college degrees are now working in either menial jobs or positions that do not require a degree. Many persons with advanced degrees and six figure college debt are either unemployed or underemployed. 17 million Americans with college degrees are doing jobs that don’t require a degree, according to an April report by New America Foundation. 40 million Americans now receive food stamps. Countless Americans go to bed hungry on a daily basis. According to the report published by New America Foundation, middle income jobs are disappearing and becoming replaced by low income jobs. Our jobs have been going overseas with no end in sight. Who hasn’t called a customer service number only to find out, it’s located in India or anywhere but the USA.
The middle class is shrinking fast. Not being an economist, I don’t have any answers or advice on how to fix the economy. I just know we fixed General Motors, Chrysler, bailed out the banks and have yet to come to the rescue of the mainstream American public. While universal health care is commendable, Americans will still need money to purchase it. I also inquired in past articles, when is relief coming to the middle class or average American. I just know the middle class is in dire straits and is sinking fast. And if we lose our middle class, we become just like a third world country where our 3% of the wealthiest rule and the rest of us are poor with nothing in between. That’s why we didn’t need to give any tax credits to the wealthy.
Meanwhile, neither the House nor Senate seems capable of fixing the dire situation we find ourselves in. If we need to replace some of our economic advisors, let’s do it. If we need to urge the White House and leaders of both Houses to take action now, we need to do it. If we don’t do something or remain at the status quo, we are doomed. Yes, doomsday is on the way and it’s coming faster than we think. If we keep ignoring it, there will be no way out.
Click here to read the full report “The American Middle Class Under Stress” by New America Foundation.
Debbie Hines is a trial lawyer and legal and political commentator. She also contributes to the Huffington Post. She addresses issues on race and gender. She holds a juris Doctorate from George Washington University Law School and a BA in American history from the University of Pennsylvania.