The current Obama Boom (stagnant economy) has accelerated a trend that began in the early 2000’s. Due to globalization, middle class jobs paying $40,000-$70,000 a year began to be outsourced overseas. There are many factors, the primary being the US’s archaic economic regulation and tax policies that discourage domestic investment and encourage overseas expansion. The result was that even before the economic collapse of 2008, the middle class was stagnating. Now with Obama’s Progressive economic policies, it’s collapsing as there’s no incentive to create jobs here. If jobs are available, they are low wage minimum wage jobs that can’t provide a good living. The result is like Argentina before it, the America’s living standard is declining.
WASHINGTON — The good paying, predominantly white-collar jobs that once sustained many American communities are disappearing at an alarming rate, keeping the unemployment rate stubbornly high despite the end of the Great Recession.
More troubling, these jobs in accounting, financial analysis, commercial printing and a broad array of other mostly white-collar occupations are unlikely to come back, experts predict.
There isn’t a single cause to the trend. Some of it is explained by changing technology, some of it is the result of automation. Sending well-paying jobs to low-cost centers abroad is another big part of the story. So is global competition from emerging economies such as China and India.
The result is the same in all cases, however. Jobs that paid well, required skills and produced vital communities are going away and aren’t being replaced by anything comparable.
Read the rest: With good jobs going away, middle class downsizes
The American dream is rapidly dying and the hope for a better tomorrow is becoming a thing of the past. Barack Hussein Obama’s policies are making things worse by increased debt which causes economic stagnation. He has become a laughing stock at the G-20 and his proposals are dismissed out of hand.
Economic policies that lead towards investments and easing regulatory burdens are businesses are the only way to restore good jobs here in America. We are the sick man of the global economy and we must implement economic reforms to reflect the new reality. If we continue down our path, what happened to Argentina is what will happen to us.
Tags: G-20, Global Economy, Middle Class, Outsourcing
