Our United States of Indebtedness

[marmar]

Our United States of Indebtedness

Saturday, 15 August 2015 00:00
By JP Sottile, Truthout | News Analysis


The conventional wisdom says that the United States is more divided than ever.

At least, that's according to network number crunchers and political pundits armed with snazzy, interactive maps. They tell the perennially sad story of the United States' deep divisions in distinct juxtapositions of red and blue. But the simple, mathematical fact is that these stark divides of party, race, gender and religion belie the obvious truth that the overwhelming majority of Americans are more united than ever.

They are united in a state of indebtedness to the tune of $11.86 trillion worth of mortgages, credit card bills, consumer debt and student loans.

A recent New York Times/CBS poll shows they are also united in their concerns over the widening gap between those at the top of the United States' pyramid and them. Only 35 percent of Americans believe "anyone" regardless of their station in life can "get ahead" in the post-crash economy. A full 66 percent think wealth should be more evenly distributed, and another 57 percent believe government should do something about it.

This emerging consensus on inequality might have something to do with a stunning 36 percent drop in net household worth in just 10 years. No doubt it also accounts for their overwhelming support for big changes on a variety of economic issues - from expanding paid family leave to increasing the minimum wage to raising taxes on those earning $1 million or more per year. ................(more)

http://www.truth-out.org/news/item/32336-our-united-states-of-indebtedness

[Igel]

1. This bit is distressing.

"Only 35 percent of Americans believe "anyone" regardless of their station in life can "get ahead" in the post-crash economy."

To a large extent it's not true--you can "get ahead," depending on what you think that means. "Become wealthy"? Mostly it's never been true. "Do better than your parents"? For a lot of kids it's completely true. Esp. poor kids. If your parents make $200k/year, probably not. But it's not like "getting ahead" of them is all that important.

The thing is, you're in the 65% and a teenager and take that to heart, you don't try. It's an excuse for those excuse-seeking, a justification for settling for nothing better.

No hope, no struggle.

[ClarkeVII]

2. I agree....

It is troubling when people think they cannot get ahead. People think the system is against them (it's not). This leads to candidates like Trump who tout the dream is dead.

People need to turn off their tee vee.

[PowerToThePeople]

3. "at the top of the United States' pyramid" scheme

DUrec