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The increase in poverty is something that is out of the hands of any American president. The seed were planted in the 80s and early 90s when China opened up and the Soviet Union collapsed. Outsourcing started in this period and it became more rapid after India abandoned the license raj in the 90s. De-industrialization has devastated the middle class because the skill sets possessed by industrial workers are irrelevant to this new economy. Both Clinton and Bush tried to combat this by loosening the regulations on the financial sector and by encouraging investments in technology (Bush focused more on energy while Clinton focused more on IT). The economic policy makers all thought that the best way to combat de-industrialization was to convert the US into a high skilled service economy concentrating on financial services, technology companies, and other high skilled services such as law and advertising. The conversion turned out to be far more difficult to execute than expected and most of the economic policy makers are coming to the realization that the US can't really become a full fledged service economy based on high skilled labor. The economic policy makers (both Democrat and Republican) are at a complete loss how to fix this issue and the increasing poverty is the result.
Companies can only hoard campital during periods of limited competition. Otherwise they have to continue to spend it to expand their revenues..
I always think its funny when lefties start to suggest huge capital reserves are a positive because its not.. It means little faith in the future and not willing to take risks
Despite his rhetoric, Obama has failed to deliver for the poor as well. But we know Obama loves the poor, because he has created so many of them. Indeed, the only thing booming under Obamanomics has been poverty. Poverty has soared under Obama, with the number of Americans in poverty increasing to the highest level in the more than 50 years that the Census Bureau has been tracking poverty. Over the last 5 years, the number in poverty has increased by nearly 31%, to 49.7 million, with the poverty rate climbing by over 30% to 16.1%. This is another natural result of negligible economic growth, paltry job creation, declining real wages, and the worst economic recovery since the Great Depression.
They are already that here... well for a side of fries and a coke, too.
It is $30 for a family of 3 to go get hamburgers.(not talking Micky D's)
You cannot find a legal, to work for less than $12 an hour, flipping burgers or busing tables in this town.
Dunno where "this town" is but something like one-fourth of all jobs in this country pay $10.hr or less. Portlnd is full of $9-$12/hr jobs.
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