Friday, October 22, 2010
The Second Reagan Revolution (Part 13)
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(snip)According to a study by the Foundation for Child Development, 2010 will see the highest rate of children living in poverty in two decades. Study results reported in USA Today (June 7, 2010) showed staggering increases since the start of the recession: One in five children live in poverty, approximately 18% of families are unsure where they will obtain food and an estimated 500,000 children are homeless. As always, poverty and health problems go hand in hand. The president of the American Academy of Pediatrics states, Family poverty increases many risks for children, including low birth weight, premature delivery, learning problems, asthma and other health problems.
The government reported this week that the real wage and salary income of finance industry employees based in Manhattan rose nearly 20 percent in the first quarter of this year. That surge helped make Manhattan the fastest-growing county in the United States in terms of terms of year-over-year gains in income.
Labels: Bailout of Finance Capitalists, Barack Obama, Democrats, Neoliberalism, Second Reagan Revolution, Sub-Proletarianization of America
