I noticed a recent newspaper headline that stated “As the U.S. consumer goes, so goes the U.S. economy.”
After citing the latest economic growth statistics, the story observed that a main reason for our most recent economic growth is the increase in workers’ disposable income.
I agree, but the headline statement needs to be tweaked a bit to make it more appropriate. I believe it should shout: “As the U.S. middle class grows, so grows the U.S. economy.”
Unfortunately, middle-class percentages have been declining while income inequality continues to mount since the advent of President Ronald Reagan’s failed “trickle-down economics” was initiated in the 1980s.
Today’s wages and economy situation is detailed quite thoroughly in an Aug. 28…
