Blaming the Middle Class

Deficit reduction will need to be high on the legislative agenda of the 112th Congress. Government is borrowing too much — current policies are just not sustainable. The solutions are simple — spend less, increase revenues, or both. The politics of deficit reduction are ugly, and not at all good news for the American middle class.

Revenues at the federal, state, and local level took a big hit because of the greed and corruption of the American elites. America’s bankers gambled and lost and financial institutions were at the brink of collapse. Millions of workers lost their jobs and the housing market plunged as the real economy crumbled. The real economy and government revenues have still not recovered.

Our financial institutions were bailed out and are now making record profits. For that matter, American corporations are making record profits and still there is no recovery in the real economy. Millions remain unemployed and are losing their homes. There is no bailout for workers or homeowners. It raises the question: if companies are making record profits, why are we not seeing jobs and a real recovery?

If you listen to some politicians — notably Republicans, conservatives, and tea party fans — it’s the fault of the middle class. We’ve taken on too much personal debt, we buy homes we can’t afford, we don’t look hard enough for employment, and too much is spent on educating our children, providing for retirement security, and taking care of us in our old age.

Economic growth is the only path to recovery that can bring spending into line with revenues long term. A further assault on the middle class under the guise of “reform” will only prolong the pain for working class Americans, and do nothing to increase demand for goods and services — the fuel of the real economy.

Jonathan Cykman, EzineArticles.com Basic PLUS Author

About cykman

Jon Cykman works in Washington, DC as a consultant, and is long-time student of American Politics. He started out handing out campaign materials for Hubert Humphrey during the campaign of 1968, and later went on to earn a B.A. in Political Science from the State University of New York, College at Purchase in 1978, and an M.P.A. in Public Affairs from the University of Texas, Lyndon B. Johnson School of Public Affairs in 1980. Jon retired from Federal Service after 31 years of service, and lives with his family in Ellicott City, MD.
This entry was posted in American Politics, Economic Policy and tagged , , , , , , , , , , , , , . Bookmark the permalink.

One Response to Blaming the Middle Class

  1. Jon Messer says:

    And when certain institutions run out of chips in the BIG-Casino who gave them more? The same schmucks who watch them cash-out and say thank you.

    It’s a hard-swallow when fairness has nothing to do with reality or necessity – is it not my friend? Gotta keep them Pigs in slop.

    However, regulatory reforms with any significance and actual impact might in fact prove we can learn from our mistakes.

    Fascinating times (assuming we can afford to live thru them?)

    As a weathered pundit, and with the 2011 peg now of Obama & Reid vs. Boehner-Boys & TEA-party’s, I’ll put my $$ on Obama and his ability to “Ice” Tea.

    Good piece my friend! Keep putting truths to blather.
    Cheers, Jon

Leave a Reply