Bitter? You Should Be! Why Obama Is Right
Nicholas von Hoffman
from The Nation
Last week Barack Obama, destiny's tot, suggested blue-collar Americans are feeling bitter about their financial condition, which has been on a bit of a decline during the last five, ten, fifteen, twenty years or so. Rival politicians immediately pounced and they've been whaling on him ever since.
How dare Obama suggest people are bitter? Americans are not bitter! Americans are happy, proud, peppy, content and optimistic!
Maybe. But if millions of them are not bitter and/or angry at this point, there is probably something wrong with them.
In his new book, The Big Squeeze: Tough Times for the American Worker, Steven Greenhouse of the New York Times writes, "Since 1979, hourly earnings for 80 percent of American workers (those in private-sector, non-supervisory jobs) have risen by just 1, after inflation. For male workers, the average hourly wage actually slid by 5 percent since 1979.... the nation's economic pie is growing, but corporations by and large have not given their workers a bigger piece." A 1 percent raise in almost thirty years? Still not bitter?
And who is getting ever larger chunks of pie? The Wall Street Journal has isolated some of the most energetic pie pigs: "the wealthiest 1 percent of Americans earned 21.2 percent of all income in 2005, according to new data from the Internal Revenue Service. That is up sharply from 19 percent in 2004, and surpasses the previous high of 20.8 percent set in 2000, at the peak of the previous bull market in stocks. The bottom 50 percent earned 12.8 percent of all income, down from 13.4 percent in 2004 and a bit less than their 13 percent share in 2000." You can be sure that a substantial portion of the bottom half of the population is living in small towns similar to the ones in which Obama sniffed out a degree of bitterness.
(Continued here.)
from The Nation
Last week Barack Obama, destiny's tot, suggested blue-collar Americans are feeling bitter about their financial condition, which has been on a bit of a decline during the last five, ten, fifteen, twenty years or so. Rival politicians immediately pounced and they've been whaling on him ever since.
How dare Obama suggest people are bitter? Americans are not bitter! Americans are happy, proud, peppy, content and optimistic!
Maybe. But if millions of them are not bitter and/or angry at this point, there is probably something wrong with them.
In his new book, The Big Squeeze: Tough Times for the American Worker, Steven Greenhouse of the New York Times writes, "Since 1979, hourly earnings for 80 percent of American workers (those in private-sector, non-supervisory jobs) have risen by just 1, after inflation. For male workers, the average hourly wage actually slid by 5 percent since 1979.... the nation's economic pie is growing, but corporations by and large have not given their workers a bigger piece." A 1 percent raise in almost thirty years? Still not bitter?
And who is getting ever larger chunks of pie? The Wall Street Journal has isolated some of the most energetic pie pigs: "the wealthiest 1 percent of Americans earned 21.2 percent of all income in 2005, according to new data from the Internal Revenue Service. That is up sharply from 19 percent in 2004, and surpasses the previous high of 20.8 percent set in 2000, at the peak of the previous bull market in stocks. The bottom 50 percent earned 12.8 percent of all income, down from 13.4 percent in 2004 and a bit less than their 13 percent share in 2000." You can be sure that a substantial portion of the bottom half of the population is living in small towns similar to the ones in which Obama sniffed out a degree of bitterness.
(Continued here.)
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