Over the past month, many US media publications have been sounding the alarm: death of the middle class of America and the end of the “American Dream”.

According to the independent American portal – “End Of American Dream”, one of the main reasons for this is that the rate of the cost of living increase in the United States is higher than the growth of wages. In particular, the cost increase for food, rent, health insurance, and therefore the number of the “working poor” in the country is increasing exponentially every year. However, the current US authorities do not care about the decline of the middle class, which once supported the country.

For example, health insurance premiums have been increasing 3 times faster than the federal officials say, and in 2016, across the whole country, an increase of 20.3% in these payments is expected, which would affect millions of families. Since July 2012, the food price index rose from 73 to 162 kinds of products. Today, 47 million Americans live in poverty, every fifth child in America is issued food stamps, 1.5 American families live on less than $US 2 a day, and each year 46 million Americans use the services of food banks.

In these circumstances, the future does not look very bright for the “ordinary hard-working Americans”, since a large number of Americans, previously considered as a part of the middle class, are losing their jobs and homes. Homelessness and complete impoverishment have become a real prospect in the life of the middle-class, and with its disappearance – the death of the “American dream”.

FINISH READING

First appeared:http://journal-neo.org/2016/01/12/the-end-of-the-middle-class-in-the-united-states/

As heard on The Hagmann Report