Goodbye, Middle Class

[marmar]

from CNNMoney, via Yahoo:



....(snip)....

One bedroom for a family of five

Previous pay: $110,000
Current pay: None
Where they live: Staying as guests in a friend's home

Talia Mobley and her husband Adam have been out of work for more than two years. Adam was a lead technician for Comcast and says, "I had it made." Talia worked in customer service.

Collectively, they have sent out 500 resumes but have not gotten one job offer.

....(snip)....

From six figures to the poverty line

Previous pay: $130,000
Current pay: $15,000
Where they live: Their foreclosed home, awaiting eviction

This family of 5 represents what it can look like when the bottom falls out of the middle class. .............(more)

The complete piece is at: http://finance.yahoo.com/news/goodbye--middle-class.html

[DesertFlower]

1. so sad. nt

[tawadi]

2. It's depressing

[L0oniX]

3. $16,000 ...my current pay. I could almost retire on $130,000.

What gets me is that people seem to always spend up when they make more money instead of living more meagerly and saving up for just such times as these.

[Skittles]

7. I wonder about that too

it's like they never saved for a rainy day

[SomethingFishy]

12. Well it's been a rainy 2 YEARS for them...

A family of 5 15,000 a month I could see how they could go through their savings in 2 years. What I can't see is how anyone could blame their problems on the fact that they didn't "save for a rainy day".

[L0oniX]

18. No surprise that people don't save when they are doing good. It is a shame that so many people...

have no discipline to save and would rather risk their future and maintain an image of doing well. If this family had more sense they would have more money to help them endure their trial. ...and I don't give a sh*t what you think either! You are welcome to spend every cent you have on hookers for all I care but don't expect me to give a sh*t about you if you end up with no money to endure a time when you may have no job ...not after you have made that kind of money.

[fasttense]

23. In our current society, you can NOT save enough.

You can try but one major disease will wipe out your entire savings of a million or more.

How much do you have to save to keep from falling into danger if you lose your job? 10s of Millions, yes 10s of millions. If you get cancer and don't have health insurance you can easlily go through $10 million.

Most Americans can not save enough because they don't make enough. If you make $130,000 a year and you decided to live on $30,000 (good luck with that) it would take you 10 years to save a million dollars. It would take you 100 years to save 10 million. If you get sick and don't have a job, well you are right back to where you stated.

[dana_b]

29. and don't forget about education

if they were planning to help out their kids with their education, that costs a lot too. I do have empathy for them and others like them. It's easy to judge when you don't really know someone's situation.

[L0oniX]

39. Iraq had free higher education ...other countries do too.

Here the 1% have us by the b*llz and have screwed us over by making us pay much more for an education that gets you no jobs and leaves you in debt for life. I blame the system.

[dana_b]

40. you'll get no arguments from me on that n/t

[L0oniX]

41. Why not? Everyone else is trying to insult me for my opinion.

[Skittles]

44. you are looking at worst case scenarios

when the crash came, too many people were already in the red or were there very quickly because they had zero savings

[SomethingFishy]

27. Wow how very Republican of you...

So they should have saved enough money to hold a family of 5 over for more than 2 years? On 130,000 a year?

You are fucking clueless.

[L0oniX]

34. You are fucking clueless and very George Bush-ish.

By all means go ahead and don't save and have a bunch of kids and expect your job to be around forever. That is clueless and moronic. I suppose you would just blame everyone and everything else for your plight.

[L0oniX]

25. O yea ...I am blaming them ....pffft

I blame capitalism and this fucked up society which drives people to spend more than they should. I also blame the effort to put on a false front by people so that they have the appearance of doing well but yet have no food in the refrigerator. Saving money used to be a virtue and a smart thing to do. Now we have the George Bush mentality which says we need to spend to keep this fucked up country running. If I have an opinion about these people who decided to let themselves have 5 kids and not save up some money it is that they made the wrong choices period. To say that one should not save money because the amount would have to be in the millions so don't even try is just foolish.

[Mojorabbit]

38. +10000 nt

[Nikia]

56. I agree. No one expects to be out of work for 2 years

If they are actively trying to get a job.
The problem is how two people who have skills cannot manage to get a job after that period of time. Unfortunately, it seems like being out of work makes one unemployable.

[L0oniX]

21. ...and I get attacked for my opinion ...DU can suck sometimes.

It used to be that saving when you were doing good was the usual.

[sabrina 1]

28. How do you know they did not save? Two years without income for a family of five, who also

lost their HC btw, along with their jobs, could definitely eat up any savings they had.

And why are there no jobs available for people as skilled as they are? Unless they follow them to China I guess.

[L0oniX]

33. I make $16k a year and have for over 25 years. My home is paid off.

I have managed to save money too. If I had made that kind of money I would have a lot more saved up. I don't know if they saved up when they were doing well. I do know that a lot of people spend everything they make and save nothing and when they make more they spend more. I was taught to save money ...it has worked for me so far. There are millions of boomers facing retirement and they have not saved up for it. IMO having 5 kids is not very smart either.

[sabrina 1]

35. Well, I don't know whether you have children or a family but this couple does.

That means they have extra expenses and the fact that they lasted two years without an income, seems to suggest that they did have savings.

Also, they may have had to live in a more expensive area because of their work. And as many people today are doing, they could have been contributing to the care of elderly relatives also.

Living alone it is far easier to manage on a smaller income and if your work doesn't demand living in an expensive area, you can save on living expenses.

As far as whether it is foolish to have children, that is a very personal matter that does not require the judgement of others imo. Some might judge those who do not have children also. Personally I don't think it's anyone's business either way.

[Nikia]

57. They actually have three children

There are 2 adults and 3 children. I don't think that it is that unusual for a middle class family to have three children or afford them while they are making a middle class income.

[Skittles]

42. of course there are exceptions

but I saw if for myself during the good times - people spending, spending, spending and going into debt because, well, times were good.....too many people behaved like times would ALWAYS be good

[L0oniX]

47. Glad someone understands where I am coming from...

instead of all the high school jock insults everyone has been piling on me. I don't care though. I can have my opinion and it doesn't matter that some here want to insult because they don't agree with my opinion. I have seen enough of people spending more when they make more and it's like what? ...did they expect to work for 20 years at the same place making that kind of money? It's foolish IMO.

[Skittles]

49. I believe it is something that is taught

I was raised by a Depression survivor and a WWII survivor - it was drilled into my head to save money / never waste - very often about people through the boom years I would think, "How can they afford that?" - turns out, a lot of them couldn't. I do understand the inherent evil of the forces that encouraged people to spend, spend, spend, but there is common sense, too

[L0oniX]

51. I too was influenced greatly by my grandparents who went through the depression.

I saw the pictures of them back then and heard all their stories and took much of what they said to heart and mind. My grandmother had saved some gas ration stamps which I saw. My grandfather worked the PPP and built roads. My grandmother worked in a factory during WW2. Both hard working people and it paid off big time for them. They had 5 boys which spread the name around as you could imagine. I too was wondering how can these people afford to buy these new cars and 1/4 million dollar homes. I aways thought they must be screwing people to get that money. Now I know Wallstreet was screwing people ...all of us.

[mick063]

13. Sad

How you spend is equally important to how you earn.

Having said that, the family has hit hard times and it is wrong to place blame on them. We don't know enough to know if they lived beyond their means. I would suggest that a vast majority of couples with a combined income of 130k are living far beyond a lifestyle conditioned to 16k a year. And they should. It is called living in the middle class.

A person has to work for a living and it is wrong to expect folks to live meagerly, save every spare nickle, just to be prepared for a "rainy day". Further, our consumer based economy will die on the vine if we all adopted such philosophy. You save for the important things. Buying a house, sending your kid to college, retirement, decent transportation. One should not have to sacrifice those things in fear of becoming unemployed long term.

One should not live in dread that an experienced professional cannot find employment consumate with their skills in a reasonable amount of time. The middle class lifestyle is a comfortable lifestyle and one that should be attainable by anyone with the work ethic to do so. Obviously, this working couple has demonstrated that work ethic in the past.

Only one that follows the Romney philosophy of economics would place blame on them.

[L0oniX]

17. I don't I have ever been insulted in such a nice way but insulted none the less.

And just what is it that set you off? Are you someone who spends all you have without consern for your future? Nice. I suppose that may seem like a smart thing to do but I find it rather symptomatic of whats wrong with a lot of spoiled people who carry the appearance of being well to do but yet have nothing in the refrigerator. So you imply that we should spend so as to support our capitalistic way ...pffft ...sound just like what George Bush was saying when he told us to spend. You must have voted for him.

[renate]

26. well said

"It is called living in the middle class." Just as you said, it should be open to anybody willing to work for it; I think most people who support OWS would agree. Blaming this family for not living like paupers when times were good is ridiculous.

[L0oniX]

36. "paulpers" I said that? Nope!

Some of us are old enough to have been taught to not live beyond our means and to save for the future. Anyone who expects to keep one job for 20 years is an idiot. Having 5 kids shows that they really don't think there will be an end to oil and any kids they have at this time are never going to live as well as we have. 5 kids is way over the top IMO ...but gathering from all the responses I am not allowed to have one without getting insults thrown at me like a bunch a high school jocks.

[riderinthestorm]

45. How dare you judge?? You have no idea from that article if they've had a health crisis

that wiped them out! Or a catastrophic natural event (major storm damage, tornado etc). Or a stupid civil suit over a car accident (did you read Medical Admin's heartwrenching OP?)

You cannot save enough for some of the shit that rains down on a family's head! I am appalled at your attitude of not even giving this family the benefit of the doubt.... Lets say they saved $200,000. Would that satisfy your judgmental self? Is that enough? Well let me tell you, that wouldn't be NEARLY enough if one of them was injured in a car accident and their insurance wouldn't pay out while they were waiting for a settlement. I could go on and on but you get the drift.

How much do you think is enough? Well, let me tell you from personal experience, that sometimes even a million dollars isn't enough if your family member comes down with some kind of catastrophic illness. You will be bankrupt and living in someone's spare bedroom....

[L0oniX]

46. Unfortunatly for you I can have my opinion. It's just too bad if it upsets you...

to the point where you feel you have to play high school jock insult games. Maybe you need to insult people you don't agree with to boost your ego. I guess no one should save up anything since a catastrophy could happen and wipe it all out anyway. Yea that makes sense. Or maybe we should all have a ton of kids irreguardless of the fact that they will live in a world devoid of enough oil to keep this fucked up car dependent society going. People like you aren't worth discussing anything with since you choose to devolve into petty insults rather than discuss reality. Enjoy your stay here and good luck with your insults.

[riderinthestorm]

50. Point out ONE insult or "jock game" (WTF?) in my post. ONE!

Good luck with that. And since I've been here for 7 years, and have enjoyed my stay, feel free to alert on my post if you think I have in any way crossed any DU boundaries.

You are simply miffed that your diatribe about the poor people in the OP is getting slammed since the people in the OP are really facing "reality". Facts are MOST bankruptcies are medically related. No way can ANYONE SAVE ENOUGH FOR THAT. EVER.

[L0oniX]

52. "Would that satisfy your judgmental self?"

Yea I'd call that insulting. Enjoy it as I am sure you do. O yea ...don't save any money because it will get wiped out anyway ...great.

[Quantess]

54. But spending money energizes the economy.

If everybody was a tightwad (frugal if you prefer), there would be less money circulating in the local economy.

In fact, that's what is happening more and more as people are forced to scrimp the little money they have anymore.

Hey, let's go eat sushi and see a movie! The restaurant, the servers, the fishermen, the theater workers, etc.. they all make a little money because someone treated themselves to a bit of indulgence. All because you didn't heat up some ramen and watch local tv instead that night.

If more people spent money, the economy would improve. The problem is NOT that people didn't save, it's that it's so much harder to make a living these days.

[L0oniX]

55. Ah yes ..the ol George Bush idea ...spend your money.

That worked out well didn't it.

[limpyhobbler]

4. rec. nt

[onehandle]

5. ‘If you’re not rich, blame yourself.'

Because nobody else counts in Captain Moneybag's world.

[Justice wanted]

6. I can't believe I am seeing the disappearence of Middle class before my eyes. I've always been

working poor hoping to upgrade to middle class.

[Skittles]

8. yup

her strong middle class is what made America special

[Gidney N Cloyd]

9. We're all pretty much one job loss and an MRI away from poverty.

[gateley]

10. This is just shameful. How can we let this continue? How did we let this happen? nt

[L0oniX]

37. We voted for Bill Clinton who signed the repeal of the Glass–Steagall Act...

and also sold us down the river with NAFDA. Remember Ross Perrot? That sucking sound? Side note: Bill also screwed Haiti with his subsidized rice.

[mick063]

14. I care

I would never, ever vote for Ron Paul.

Ron Paul will never, ever be elected so I don't have to worry about it anyway.

A person that answers "who cares?" to the shrinking of the middle class is exactly the type of person that would support Ron Paul.

You have little credibility with the majority of folks that read your post for precisely the same reason that Ron Paul will never be President.

That would be because most folks are decent and they "care".

[chrisa]

15. lol You Paulite nubs are hilarious, considering

Ron Paul wants to nuke all government programs for the poor, and turn to Social Darwinism.

You don't even know what your own candidate stands for.

[Skittles]

43. I find that is true of most Ron Paul supporters

[marmar]

16. Yeah, an anti-government libertarian.....THAT will solve the problem.

[socialist_n_TN]

20. And Ron Paul DOES give a shit about the 99%?...........

That's why in his world business owners would be free to discriminate against you for any reason they want. They are free to pollute as much as they like. They are free to poison and cheat the public without governmental restraint. In RP's world people are free to starve because they can't get a job or because they will stand up for themselves and lose a job. They're free to starve when they get too old to work and their family has all died. And that's not even getting into the neo Nazi tripe that he supports and believes in.

So you REALLY think that millionaire Ron Paul gives a shit about the 99%? Or even you? His dystopia would be more of a disaster than anything I could think of and ignorance or idioicy are the only reasons to hope that Ron Paul ever becomes more than a pimple on the ass of the body politic.

[Zalatix]

48. Sure, he does

as long as they're profitable to him, that is.

[socialist_n_TN]

53. True. As long as he can dupe and use them.........

that's how far his concern goes. After that, not so much.

[hfojvt]

19. goodby middle class

though I never knew you at all
you had the grace to hold yourself
while those around you fall
crawled out of the woodwork
and they whispered
into your brain
they said 'you are on the treadmill'
and they made you chase their fame
it seems to me, you lived your life
like a candle in the wind
never knowing
who to cling to
when the rain set in ...

[woo me with science]

22. K&R

[justiceischeap]

24. But Rove said it's because the middle class is upwardly mobile

That they're actually doing better financially than ever...

This story must be lies.

[Initech]

30. I tell you, we will see an economic revolt in my lifetime.

I don't think it will end well either. It's starting with OWS and I hope it continues peacefully but I think things are gonna turn violent before all is said and done. It's disgusting what these criminal banks are doing to us, and it's disgusting that they can legally get away with it.

[Liberal_in_LA]

31. article has more than 8000 comments in 3 days. wow. must have struck a nerve.

[47of74]

32. Our country is dying

That's the truth of the matter.