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david frum is a longtime conservative author, writer and blogger at
such sites as 'national review'. today he has a very insightful article on how the right wing blames the middle class for taking on debt.... FORGETTING THAT THE MIDDLE CLASS HASN'T HAD A PAY INCREASE IN 8 YEARS http://www.cnn.com/2010/OPINION/04/2....html?hpt=Sbin But many millions of middle-class families plunged into debt for a very practical reason. Their incomes were not keeping pace with the cost of crucial items of the middle-class lifestyle: housing, medical care, college tuition. At the same time as housing, medical care and tuition were jumping in cost, the cost of borrowing was dropping to historic lows. Adjusted for inflation, the typical American family earned less in 2007 than that family had earned in 2000. Meanwhile, everyday necessities such as energy were becoming more expensive: By 2007, the typical American family paid more for energy than it did for clothes and entertainment combined. ---------------- what frum DIDNT mention is that the right also neglects to mention the richest 1% saw their incomes TRIPLE in the last year. jesus...even conservatives are finally starting to see that, unlike canuck and other right wingers, HATING THE MIDDLE CLASS is not the solution to the problem. |
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