Illustration: Marcus Peabody/Guardian Design
Experts seem to agree the US economy has been on the upswing in 2024. A wave of new jobs, robust consumer spending, lower interest rates, falling inflation, impressive levels of business investment and record Wall Street highs has made the US economy “the envy of the world”.
But many Americans appear to feel very little of that.
Jim White, 62, an aquaculture specialist from North Carolina, said he has “given up [on] going out”.
I’ll never own a home. A new car is unthinkable,” he said. “The economy is slowly making the rich richer. Everyone else is sinking.”
White is among dozens of people from all over the US who shared with the Guardian how they feel about the economy.
While some expressed general optimism about stabilizing levels of inflation and reported doing well economically, scores said inflation continued to be financially crippling, with their incomes not even remotely keeping up with soaring costs for housing, food, childcare, insurance, healthcare, fuel, subscriptions and entertainment.
Few seemed […]
“We are essentially a neo-medieval country, with a small privileged population of rich and uber-rich, and a majority population of what amounts to peasants.” Thank you. Watching Elon Musk scamper around Trump in glee as he made it very clear he was trying to buy the election really brought that home. And sadly, at least half of America actually votes for it apparently, cheering wildly while Trump brags about not paying taxes. Meanwhile, where I live, the homeless beg on street corners, set up tents in parks, and sometimes just lie down in the sidewalk while people walk around them. It looks a great deal like I remember Calcutta looked when my family visited there in the 60’s. It is a great irony that this country was made from a revolution against a corrupt monarchy, and now, we have a monarchy the likes of which the world has never seen.
The elites have essentially insulated themselves from the lives of the commoners. They have also been able to insulate themselves from the results of their decisions. The result is articulated in the article. The blame goes to the corrupt duopoly who work hand in glove against the interests of the population as a whole. Want to change these outcomes? Then you have to change the structure. Think outside the box.
The article clearly shows that middle and lower classes need Kamala Harris as their next president. The metrics have been so skewed for years toward the wealthy and finally a new candidate realizing that a sea change is necessary in the US. Higher taxes on the rich, no limit in income to take out Social Security deductions (that will keep Social Security relevant for decades to come), and higher taxes on investments! It’s time to be fair in this country on taxes to help the lower and middle classes to thrive. They are the ones who actually spend money in stores, not the wealthy and government needs to do everything possible to make them a significant part of our country. A vote for Harris will do that!
Yes, I agree, and only add that not only are the lower classes those who spend in stores, they are the ones who do the actual work that makes this country s successful as it is!
Its called predatory capitalism (I got mine and screw you)
I certainly agree with all of you. I am living solely on Social Security and have to live at the bottom of the Federal Poverty scale, even though I worked very hard all my life until I became permanently disabled, from working too hard.