The new normal

There is another article out right now--and lots of data--about how this "Great Recession", if we can call it that, is hurting individuals and families across the country.

I just don't think enough people are aware of it unless it's happening to them or a loved one or friend.

So let's start here--there are a lot of people without jobs or who are severely under-employed and it's hurting. Statisically, there are a lot of people who used to be solidly middle class are falling from those ranks.

But what the column shows and what's concerning everyone involved--especially the ones hurting--is the fear of any economic recovery being either jobless or low on job creation.

From the article:

"Some labor experts say the basic functioning of the American economy has changed in ways that make jobs scarce -- particularly for older, less-educated people like Ms. Eisen, who has only a high school diploma."

"Large companies are increasingly owned by institutional investors who crave swift profits, a feat often achieved by cutting payroll. The declining influence of unions has made it easier for employers to shift work to part-time and temporary employees. Factory work and even white-collar jobs have moved in recent years to low-cost countries in Asia and Latin America. Automation has helped manufacturing cut 5.6 million jobs since 2000 -- the sort of jobs that once provided lower-skilled workers with middle-class paychecks."

"'American business is about maximizing shareholder value,' said Allen Sinai, chief global economist at the research firm Decision Economics. 'You basically don't want workers. You hire less, and you try to find capital equipment to replace them.'"

So millions of people have been laid off, there are concerns about how few will be rehired, there are fewer social/financial protections now than there used to be and it all results in more and more of us falling out of the middle class.

And I don't think the average person on the street is giving this whole economic picture the total consideration it's due. If you still have your job, you just go on.

So for all the Conservatives out there who think we should not/cannot spend to get us out of this recession, I'd have to say there are enough warnings out there to say that we do have to "prime the pump" with dollars, in order to create jobs. Sure, we have to do it somewhat carefully and always wisely but this is no time to cut worthwhile spending.

It would be nice to get back to a nice, healthy "normal" economy. It won't be whatever the old normal was, that's likely certain, but we need jobs and income and growth right now in this country and economy and slashing spending is no way to do it.

For now, I think it may get worse--possibly a lot worse--before it gets better.

I hope I'm wrong.