Falling incomes rip a hole in middle class

  • Article by: JIM SPENCER , Star Tribune
  • Updated: January 14, 2014 - 12:35 PM

Those touched by the Great Recession adjust to a life where wages don't always go up and change never ends.

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samiamMar. 3, 12 8:58 PM

Still waiting for that wealth to trickle down eh?

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ddellwoMar. 3, 12 9:13 PM

It's interesting how many people have landed on their feet and will likely be just fine in the long run. However, I do feel bad for the older workers, who have kind of been "double whammied" in this recession -- declining 401k retirement accounts, and an uphill battle finding a new job because of their advanced age. In all honesty, the company I work for is not interested in hiring folks in their late-50's to early-60's -- by the time we get them trained into good employees they'll be looking to head off into retirement and we'll be right back at "square one" again.

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dflpartyMar. 3, 12 9:31 PM

Welcome to the Obama economy. The federal deficit created under President Obama is greater than the total of all other administrations combined. Add to that a government policy to raise energy costs to unaffordable levels, add to that the punishing regulation. In less than 4 years, an economy has been created whereby being a ward of the state is better than working.

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qualtroughMar. 3, 12 9:54 PM

We are moving with gathering speed towards the social system that was in place in 19th century England that Dicken's described. Great if you were one of the few with money, not so much if you weren't. God forbid that we become socialists like those Europeans living in hell-holes like Germany, Sweden, or France.

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brainerdguyMar. 3, 1210:04 PM

Posted by dflparty: "Welcome to the Obama economy. The federal deficit created under President Obama is greater than the total of all other administrations combined."

You have no idea what you are talking about!!!

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brainerdguyMar. 3, 1210:04 PM

Too bad the koch brothers got so greedy!!!

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rickfilMar. 3, 1210:05 PM

How come we never hear about what the wealthy have sacrificed in this great recession? It's always the good, hard working people that have had to sacrifice so much just to stay afloat.

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swmnguyMar. 3, 1210:06 PM

We're in the early going of a huge batch of transformations. We're coming to the end of cheap, easily available energy, which has boosted our standard of living to levels previously unimaginable. Our debt-based finance system has reached the point of debt saturation, and we haven't currently come up with the way to develop past that. In 20 years, our society is going to look very different from the way it looked 10 years ago. We're going to have very different expectations and ways of earning a living. For those who have the right way of looking at things and the ability to think analytically, this will be a great opportunity. For many others, this will be a very hard time.

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unionsrockMar. 3, 1210:07 PM

Some people were overextended and didn't realize it, and now they are or they were struggling. I'm sorry but if you're living paycheck to paycheck without thinking about saving for a rainy day, then you're looking for trouble. I'm thankful my parents instilled some thrift in me before I got out on my own with my own family. By foregoing some vacations and other niceties, we've weathered the recession on one income due to our savings and not accruing debt we couldn't afford.

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mblaineMar. 3, 1210:16 PM

What we need to right the ship is more tax cuts for the rich.

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