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pillich (19)

Monday, October 25, 2010

Here's link to an article showing how the "giant sucking sound" of manufacturing jobs leaving the US occured "en masse" during the Bush II years - and we can't be expected to fix his selling out the middle class overnight!


http://www.dailyfinance.com/story/disturbing-statistics-on-the-decline-of-americas-middle-class/19676292/?icid=main%7Cmain%7Cdl1%7Csec4_lnk2%7C178480

Trouble on the Factory Floor

So how did the middle class become second class citizens -- or, as Smith puts it, "Debt Serfs"? Not surprisingly, the answer is complicated, involving factors like the rising cost of education, the loss of pension funds and affordable health care, falling middle class wages, and the skyrocketing price of housing. Yet one clear answer lies in manufacturing. When looking at the declining American middle class, a good number to start with is 42,400. That's the total number of factories that the U.S. lost between 2001 and the end of 2009. Put another way, this translates into the outsourcing of 32% of all manufacturing jobs in America.

See full article from DailyFinance: http://www.dailyfinance.com/story/disturbing-statistics-on-the-decline-of-americas-middle-class/19676292/?icid=main%7Cmain%7Cdl1%7Csec4_lnk2%7C178480&icid=sphere_copyright