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Thursday, February 25, 2010

Our own history sheds light on facts from today

"We cannot be content, no matter how high the general standard of living may be, if some fraction of our people -- whether it be one-third or one-fifth or one-tenth -- is ill-fed, ill-clothed, ill-housed and insecure." --Franklin D. Roosevelt

And yet:

--At least 50 million people are ill-fed -- up from 37 million just a year ago -- including 17 million children. Hunger in America is now at an all-time high, and there are currently entire national geographic regions -- the very large 15-state 'South' being one of them -- where more than half of all public school students are poor and ill-fed.

--30% of the nation's 50 million homeowners own a home whose value is below its mortgage balance, and this number could rise to an almost unbelievable 50% by year-end 2011. It would cost about $745 billion, more than the size of the original 2008 bank bailout, to restore these borrowers to the point where they were breaking even, which there is no obvious political will to find right now.

--Despite the truly dismal 'real unemployment' figures with which most everyone now agrees -- a staggering 30 million workers and 19% of the labor force -- very little attention is being paid to the particularly adverse effects the recession is having on people of color, recent immigrants, and out-of school youth. And almost no one is acknowledging the sad reality that even the nation's 130 million full-time workers have had an average economic loss of 15% just since December 2007 -- an average effective work week of 34 hours rather than 40 -- which means that the number of unemployed workers, measured economically, is actually as high as 50 million.
The overwhelming problem today for most workers isn't this recession, as horrible as it is -- it's the fact that for every earned income level except the top 10%, average household income hasn't changed a bit for 10 years, and that for the bottom 60% of wage earners it hasn't changed for more than 20 years. Through economic expansions and recessions -- and bull and bear markets -- alike, 90% of workers in America have been standing still earnings-wise.

--And 100 million people, fully one-third of the entire U.S. population, are at or below "200% of the federal poverty line of $21,834 for a family of four", which is a needs-measure made lame by the fact that no family of four can actually comfortably live on such a low annual income.



Let's live up to our own historical standards.

That's not much to ask of ourselves, I shouldn't think.

Or are we not "One nation..."?

Link to original post: http://www.huffingtonpost.com/leo-hindery-jr/americas-dirty-little-sec_b_473026.html

2 comments:

Matt said...

Great FDR quote - he discredits the notion that people born into wealth can't fathom the horrors of poverty. He seemed to want to do more about it than his successors.

Mo Rage said...

by far, with the exception of maybe the Kennedys.

He wanted to do more about it than the Bush clan, that's for sure.

thanks for reading.

MR