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November 17, 2012

American Dream…..Just a dream


Want to participate in the American Dream, go buy a lottery ticket.  It will give you a better chance of acquiring that house on the corner with the white picket fence than hard work ever will.

The net worth of the average American family dropped from $126,000 to $77,000 between the years 2007 and 2010.  A large chunk of that decline is due to the housing bubble that burst at the beginning of the Great Recession, but another factor is the stagnation, or outright decline, of wages paid to the working man.  Americans, especially the middle classes, have grown poorer through no fault of their own.  They have little to no savings, and many of their homes are underwater.

On the flip side, the top 10% of our nations earners saw a rise in income.  How is this possible, or fair, when the rest of us don’t have two nickles to…

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