Monday, April 4, 2011

Middle Class Spinning in the Mud

This might be the most orderly manner in which to teach middle class economics:
1. Middle class makes $.
2. Middle class doesn’t make enough $ consume what the nation is capable of producing.
3. Middle class families accumulate debt in an effort to consume. (Consumption is very much propelled by the act of comparing with those who earn more $.)
4. Economic growth is slow and fragile because of middle class debts.
5. Nation enters debt as its economy sputters.
6. Nation takes from middle class in order to address the debt. (Conservative rhetoric casts middle class figures as reckless and financially undisciplined. Conservatives demonize middle class figures has being lazy, undeserving, and already having too much. Parties also misinform the public about deficits.)
8. Middle class makes relatively less $...
and the cycle spins and spins and spins and spins.

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