Are You Better Off Than You Were Eight Years Ago?
Are You Better Off Than You Were Eight Years Ago?
Our guest blogger is Adam Jentleson, the Communications and Outreach Director for the Hyde Park Project at the Center for American Progress Action Fund.
In 1980, Ronald Reagan famously asked America, “Are you better off than you were four years ago?”
After eight years of conservative rule, it’s worth posing a similar question – are Americans better off today than they were eight years ago?
As our new memo shows, unless you happen to be a big corporation or make enough money to be in the top percentage of earners, the answer is probably no:
A variety of metrics can be used to judge this question and assess what eight years of conservative policies have wrought. The picture painted here is clear: from job growth to debt, and from income disparity to national poverty indices, the conservative approach of putting big corporations and the very wealthy ahead of the middle class has failed to create prosperity that can be shared by all Americans.
4 Responses to “Are You Better Off Than You Were Eight Years Ago?”
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Why the debt binge, the sub-prime mortgages, the securitisation, the investment grade ratings, the bloated shadow-banking industry, the consequent financial collapse?
Primarily because of inequality. Too much excess wealth looking for investment returns and too many underpaid strugglers needing loans they couldn’t afford in order to perpetuate gravity-defying aspirations masquerading as every American’s birthright.
Less inequality will bring about more stability.
January 30th, 2009 at 10:37 pm“… tell us something we didn’t already know …”
February 1st, 2009 at 12:13 amCould not have put it better !
February 1st, 2009 at 12:14 amthe information only confirms the old biblical adage” to him who has more will be given”; unlike in the physical natural world money flows from a lower level to a higher level. this is the handiwork of the unseen hand of adam smith , the high priest of capitalism;
February 8th, 2009 at 12:08 pm