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John Adams Blog

The blog of The Antient and Honourable John Adams Society, Minnesota's Conservative Debating Society www.johnadamssociety.org

Tuesday, September 05, 2006

Economic Squeeze?

There has been a lot of talk lately in the liberal press about the supposed economic squeeze on the middle class. You have seen it in all the headlines "Wages not rising," Rich get richer while middle class gets poorer, etc... These are all doom and gloom stories written to favor liberal democrats.

Today there is an article in the Washington Post about "Mortgage Moms" talking about how Republicans are in trouble because of rising expenses for the middle class:

A less obvious but powerful variable is the interest paid by people carryingcredit card debt or mortgages whose monthly payments vary with interest rates. People buffeted by these trends have given rise to a new and volatile voting block. "People like this are making a large ripple across the body politic," said Republican pollster Bill McInturff of Public Opinion Strategies. When added to the growing opposition to the war in Iraq, he said, worry about this economic crunch "is creating a political environment that is not that friendly to the party in power."

The problem with these articles is that they never say what Democrats are going to do about it other than raise the minimum raise. If the minimum raise goes from $5.00 an hour to $10.00 an hour, how will that help someone who is already making $15 an hour. The belief by some is that a raise in the minimum wage equals raises for everyone else. This is false. The story that needs to be told is that raising the minimum wage does nothing for the middle class other than cost jobs.

I hope the economic issues get debated this fall. I would like to hear how the democrats propose ending the squeeze that they say is a problem. Do you think they really care about "mortgage moms" living in $500,000 houses? Maybe they will offer a bill to eliminate the federal reserve so that democrats will control interest rates.

Blogger Scribbler de Stebbing said...

They should put me in charge of interest rates.

I didn't read the article, but why are people carrying debt on credit cards and why did they get themselves into ill-advised mortgage programs? Everyone must have designer clothes and perfect hair. Okay, I understand the clothes. But cut out the porky kids' Happy Meals and put that $100 a month toward the credit card debt.

Americans have learned their spending habits through emulating government. McDonalds and pizza delivery are base-line budget items.

9:50 PM, September 05, 2006  
Blogger Scribbler de Stebbing said...

My mortgage doesn't go up, but the property taxes sure make some fascinating leaps each year. If only my home value would increase by 15% each year. Maybe I should go into government. It would be like living in a storybook.

Did they talk about the "property tax moms?"

9:59 PM, September 05, 2006  

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