Thursday, March 20, 2008

A new New Deal

The posted a nice piece today on our economic woes and the need for a new, New Deal.

Take a look at the piece and send your thoughts. But here's something to chew on. In the 50's and 60's our parents (or grandparents) were likely to work at the same company for their whole like, earn a pension and meanigful social security. They could own a home and a car, and send their children to school. All on one income. College was not as ubiquitous for working families as it is now, but wasn't seen as out of reach either. In short, being middle class in America was the envy of others around the world.

Now, most members of generation x/y are looking at not owning a home for a long time after graduation, we are reliant on two incomes to make ends meet. We aren't guarantee pensions, or in many cases healthcare. The purchasing power of the dollar is less than that of many prominent currencies. We are looking at a decade of static wages and increased share holder profit.

I think sometimes as the younger generation we forget what our parent's inherited as a generation and what they have left us.

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