How the US economy in recession affects the middle class
Posted by Stephen Cline on March 16th, 2010There are many things that are affecting the US economy and its huge middle class. The middles class has been the backbone of the US economy and for long has been the engine of growth and industriousness. There is no wonder then that lots of people feel that the middle class is key to the growth of the US economy, something that many rival nations have long been envious of. But it seems the recession has had a bad effect on the middle class that seems to have lost its spirit and its joie de vivre. Bad news everywhere seems to be having a very bad effect on the resilience and the ‘can do’ attitude of the middle class.
On one hand, bad news on the US economy is causing people to lose their optimism and sense of bearings as they cope with high costs, job losses and lack of opportunity for advancement in the wake of the recession. This is why they seem to be cowering in defeat and look less prepared or mentally resilient to take on the challenges of the future. There are many who feel that unless the middle class gets it act back together, the recession could continue, and they may well be right.
Tags: middle class, US economy