Thursday, April 25, 2013

To have and to have-not

I'm late to this but let's never forget for whom the economic recovery tolls:
The U.S. economy has recovered for households with net worth of $500,000 or more, a new study shows. The recession continues for almost everyone else. Wealthy households boosted their net worth by 21.2 percent in the aftermath of the recession, according to the study released Tuesday by the Pew Research Center. The rest of America lost 4.9 percent of household wealth from 2009 to 2011.

Pew attributed the disparity to gains during that period in the stock and bond markets, benefiting affluent households, while the housing market's decline hit others harder. The report underscores the nation's growing income inequality, with the top 13 percent of households recovering their losses from the 18- month recession that ended in June 2009, and the rest of the country continuing to hemorrhage wealth.
Meanwhile our Congress, with astonishing haste, is addressing the very important problem of frequent flyers being forced to wait an extra hour or two in airport bars. I'm hearing they're ready to throw $357 million to the FAA to fix it. No questions asked. Too bad about you poor olds who won't get Meals on Wheels. Wheel your ownself over to the food bank and cook your own damn food. And so sorry hungry poor kids who need free food at school. There's no free rides. Maybe they'll let you six year olds sweep floors and clean bathrooms to earn a cafeteria ticket.

Labels: , ,

Bookmark and Share


Post a Comment

<< Home