Bye Bye middle class ;(

[crockett]

That is a huge part of it. Middle class spending is the engine that fuels this economy. Middle class overspending is a different sort of thing.

In a way it is the perfect storm. Jobs were there that allowed people with just a high school diploma to earn enough money to create a middle class life for themselves. It was all good. Those people then used credit to live a bigger, more extravagant life than they would normally live. They overextended themselves, were up to their eyes in debt and living well beyond their means. So long as they had the job they were treading water. Then the job goes away and the new jobs are being made offshore so those middle class wage jobs are no longer in existence.

You do understand a lot has changed in this country that has put the middle class in it's position. Yes the middle class often spends more than they can afford but the bank and financial companies led the horse to the water.

Yes the horse has to drink but it's very big business for CC companies to have customers whom can't afford to pay their bills. They make more money off people whom pay late than off people whom pay on time. This is why CC companies are often all over college campus giving away CC's to college kids that can barely afford to eat ramin noodles.

Not to mention ask your parent if they went to college where they got their loan from. I can almost bet 100% that it was from the govt and not some private industry loan shark as kids deal with today.

The entire corporate America is geared at one thing at that's sucking as much money out of people pockets as they can with little regard to this country or the economy. It's not just people that lost the pride in Made in America it's also the corporate mongols whom forgot that they once also had that same pride in helping build & shape this country.

It's not just the middle class that is fucked but also everyone else because with out the middle class these companies will have no customers.

[12clicks]

You do understand a lot has changed in this country that has put the middle class in it's position. Yes the middle class often spends more than they can afford but the bank and financial companies led the horse to the water.

Yes the horse has to drink but it's very big business for CC companies to have customers whom can't afford to pay their bills. They make more money off people whom pay late than off people whom pay on time. This is why CC companies are often all over college campus giving away CC's to college kids that can barely afford to eat ramin noodles.

Not to mention ask your parent if they went to college where they got their loan from. I can almost bet 100% that it was from the govt and not some private industry loan shark as kids deal with today.

The entire corporate America is geared at one thing at that's sucking as much money out of people pockets as they can with little regard to this country or the economy. It's not just people that lost the pride in Made in America it's also the corporate mongols whom forgot that they once also had that same pride in helping build & shape this country.

It's not just the middle class that is fucked but also everyone else because with out the middle class these companies will have no customers.

do you have a link to these government loans for college from the 60s and 70s?

Also, when corporate america sees itself vilified and its money squandered by politicians not as smart as they are, how do you think they should react?

If the middle class is failing, its no ones fault but their own. However, blaming others for your own problems seems to be the new american way.

[kane]

You do understand a lot has changed in this country that has put the middle class in it's position. Yes the middle class often spends more than they can afford but the bank and financial companies led the horse to the water.

Yes the horse has to drink but it's very big business for CC companies to have customers whom can't afford to pay their bills. They make more money off people whom pay late than off people whom pay on time. This is why CC companies are often all over college campus giving away CC's to college kids that can barely afford to eat ramin noodles.

Not to mention ask your parent if they went to college where they got their loan from. I can almost bet 100% that it was from the govt and not some private industry loan shark as kids deal with today.

The entire corporate America is geared at one thing at that's sucking as much money out of people pockets as they can with little regard to this country or the economy. It's not just people that lost the pride in Made in America it's also the corporate mongols whom forgot that they once also had that same pride in helping build & shape this country.

It's not just the middle class that is fucked but also everyone else because with out the middle class these companies will have no customers.

There are a lot of factors going into what has caused many people to overextend themselves. I was just pointing out what I think is one of the main ones. With our point it isn't just where student loans come from, but the cost of college overall. I graduated high school in 1989. If I wanted to go to U of O (one of the big schools in my state) tuition was around $5,700 per year if you lived on campus. Today it is around $20,000. It seems crazy to me that a person would be $80,000 or more in debt when they leave college. So college costs have quadrupled, but when you adjust for inflation the average household income has barely changed in that same time frame.

[Bill8]

If the middle class is failing, its no ones fault but their own. y.

There's a lot of truth to that argument.

[BlackCrayon]

It's so funny watching the idiot left perpetrate this lie.

please explain why it is a lie.

[12clicks]

please explain why it is a lie.

The American middle class has more now than it ever has and lives much better than the upper middle class of most other countries.

[Socks]

Almost every single country on earth runs incredible deficits and debts without any possibility of ever paying them back.

Why should an individual not take those same advantages?

[Socks]

The American middle class has more now than it ever has and lives much better than the upper middle class of most other countries.

Yeah, except they used to own it, and now they rent it all from the bank at high interest levels. Kind of a big difference.

[baddog]

Entitlement strikes again.

[12clicks]

Yeah, except they used to own it, and now they rent it all from the bank at high interest levels. Kind of a big difference.

Incorrect