Why Middle-Class America Is Broke and Bankrupt Today
Is middle-class America’s growing bankruptcy linked with its growing bankruptcy in areas of spirituality, morality, and education? Mike Rogers, in his article “America is Bankrupt” certainly thinks so:
Intelligent discussion on American TV and radio has now taken a back seat to a sort of childish one-upmanship. It’s no longer a question of who can thrust and parry their opponent into a corner through the use of beautiful English phrasing and logic; it’s now a question of who can belittle the other with snappy (but rude) one-liners.
Is it true that our changing mentality is affecting us financially? Have our values deteriorated to the point where we feel that using (or abusing) drugs and alcohol is a normal part of growing up or even long-term living?
I remember reading an American student-tourist’s memoirs where he mentioned how he was “rich” compared to the people of the third world countries he was touring. I nearly laughed out loud, and wanted to ask him, “If you are so rich, how come you are living in a cheap, dingy hotel instead of a 5 star, or even a decent clean hotel?” Our kids are working hard on part-time jobs so that they can then blow this hard-earned money on cheap drugs in third world countries. Talk about values!
I do not understand the mentality of the likes of Kevin Federline who borrows (takes) money from his wife so that he can take his friends to Las Vegas and have fun, while his wife looks after the newborn. Even more weird is Britney Spears who lets him do this. Whose values have gone for a toss? The husband’s, who feels it is perfectly acceptable to blow his wife’s hard-earned money with friends while she nurses the baby? Or the wife’s who married such a weirdo, and then thinks his behavior is acceptable/normal? Where are we heading?
Are our deteriorating values / deteriorating spirituality making us so aggressive that we are ready to fight and kill each other during sporting events such as football or basketball? When did sports become more valuable than life?
Are Americans deluding themselves into believing that they are rich, whereas the reality is that they are steeped in dept? Credit cards are ensuring that! Rogers avers:
From what I’ve seen, the average 30-year-old college-educated guy in America today is getting paid less than I was paid in 1975 as a part-time commission salesman at Sears Roebuck department store? I’m no economist, but it sure comes as no surprise that today’s young American has no money left to save after receiving this paltry income.
What else is contributing to the rampant increase in bankruptcy ?
? today’s price for a gallon of gasoline in Japan, a nation that produces no oil, is about $4.58 — an increase of 25% over the last seven years? How is it possible that Japan’s gasoline prices have just barely inched up over these past few years, at about 3% per year, while USA prices have doubled or more?
Is it really just the decline in the value of the dollar, or is there more to the story? Rogers states:
? it is the US government taking advantage of you — regardless of whether you are a Democrat or Republican. And the average American still cheers on the federal monster.
What else is leading to bankruptcy? Joan O’Sullivan’s article entitled “New Study: High Medical Bills Leave Millions of Americans Bankrupt” indicates that high medical bill expenses associated with a catastrophic illness or injury are leading Americans to file for bankruptcy. But wait, there’s more:
This finding might not be so surprising if the researchers had focused only on those who never had any health insurance to begin with? But over 75% of study participants who ended up bankrupt due to medical costs were “typical, middle-class Americans” who had health insurance coverage, usually through an employer. In some cases, their insurance only covered part of their costs, leaving them with high medical bills they simply couldn’t afford to pay themselves.
America is heading for trouble — big trouble. And nobody knows how to save it. Is it just a matter of time before we become a third-world country?
If you enjoyed this article, please bookmark it at del.icio.us »
July 25th, 2006 at 9:19 am
I always had an idea from TV that Americans are very rich and they are very prosperous nation. But to the east it is really shocking that they do not care about spiritual, moral development. I was very astonished that along with the spiritual moral and educational bankruptcy American middle class also suffering from financial crisis. To save the nation the middle class needs to find a way out.
August 14th, 2006 at 11:49 am
No ‘people’/'nation’ on earth seeks their “CREATOR” in “TRUTH”!!! And this is especially “TRUE” of this ‘nation’. The ‘people’ call on ‘Satan’ — they’re getting what ‘they’ ask for!!! “THE WAY” out is via “THE CREATOR” — “YHVH” — ONLY!!!