The Plight of the Middle Class Continues

The plight of the middle class continues:

"For average Americans, the last 10 years were a lost decade. At the end of President George W. Bush’s eight years in office, American households had less money and less economic security, and fewer of them were covered by health care than 10 years earlier, the Census Bureau reported in its annual survey. The poverty rate in 2008 rose to 13.2 percent, the highest in 11 years, while median household income fell to $50,303. Ten years earlier, adjusted for inflation, it was $51,295." (from Timothy Egan article, New York Times, 9/16/09)

The middle class has much to ponder. Statistics show that many are falling from the ranks. The lifestyle to which they have been accustomed is in jeopardy. These are the people who pay a greater percentage of their income in taxes but are generally forced to foot the bill for themselves. Unfortunately, as our fortunes wane through job losses, home equity depreciation, and purchasing erosion through loss of credit, the increased budget deficits created by current government spending and stimulus initiatives, bank bailouts and now the soon to be unleashed healthcare reform seem like dangerous ground. At the end of the day, the increased tax burden usually falls on the middle class; the rich will find loopholes and the poor just won't pay anyway.

The middle class is struggling to hold onto its ideals; the quintessential American dream. Homes, jobs and lifestyles need saving so they don't have time to band together and fight. They don't even know what would be their common ground. Middle class means different financial classifications and values depending on what region of the country you reside in. Yet, the middle class needs to start fighting back somehow, for the current economic ills of America are disproportionally affecting them. I know it, I am staring the reality in the face, daily.