[Doug] the premise behind liberals' economic policy in the United States today is that we have enough prosperity and now it's time to divide up what we have. It's simply not true. We don't have enough prosperity. That's why I get so bent out of shape pushing growth economics. The median income in this country is amazing but things cost so much today that the vast majority of people feel squeezed and the outlook for the future is no better.. We should legalize the pursuit of prosperity, "umleash prosperity", and maybe we would get more of it. Future healthcare is going to cost a lot. Energy and transportation cost a lot. Insurance costs are going way up. Housing costs are crazy, and it's all getting worse.
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Bloomberg published a study:
Almost two-thirds of Americans considered middle class said they are facing economic hardship and don't anticipate a change for the rest of their lives, according to a poll commissioned by the National True Cost of Living Coalition. By many traditional measures, the US economy is strong, with robust labor, housing and stock markets, as well as solid gross domestic product growth. But the data don't capture the financial insecurity of millions of households who worry about their future and are unable to save, according to the group formed this year by two anti-poverty organizations that seek to come up with cost-of-living tools that help gauge economic well-being. In the large poll of 2,500 adults, 65% of people who earn more than 200% of the federal poverty level thats at least $60,000 for a family of four, often considered middle class said they are struggling financially. A sizable share of higher-income Americans also feel financially insecure. The survey found that a quarter of people making over five times the federal poverty level an annual income of more than $150,000 for a family of four worry about paying their bills. (Source: bloomberg.com)...
