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The Squeezing Of America's Middle Class
NEW YORK, April 15, 2007
(CBS) The idea of a thriving middle class has always been at the heart of the American dream. The concept really took off in the wake of World War II, when the GI Bill started helping everyday Americans pay for college or vocational education and take out loans to buy homes. By the 1950s, TV shows like "Leave It to Beaver" were presenting an idealized picture of middle-class life. Dad worked, Mom took care of the kids, and there wasn't much talk about how they'd pay the bills. But today the American middle class is struggling. "It seems as if health care, retirement security, being able to pay for kids' college, being able to hold on to and afford a home are real sources of anxiety for middle-class Americans today," Jacob Hacker, a professor of political science at Yale University, told Sunday Morning correspondent Rita Braver. Hacker, an author of a new book that focuses on problems facing America's middle class, says the middle class is more of a symbol than a concrete definition. "I think the symbol is people who are not rich, who have to work hard, usually both parents are working," he said. "They probably have children, that's sort of the image that we have. It's a hard-working middle-class family with kids, making $60,000 to $80,000 a year and feeling really strained economically ...full text
NEW YORK, April 15, 2007
(CBS) The idea of a thriving middle class has always been at the heart of the American dream. The concept really took off in the wake of World War II, when the GI Bill started helping everyday Americans pay for college or vocational education and take out loans to buy homes. By the 1950s, TV shows like "Leave It to Beaver" were presenting an idealized picture of middle-class life. Dad worked, Mom took care of the kids, and there wasn't much talk about how they'd pay the bills. But today the American middle class is struggling. "It seems as if health care, retirement security, being able to pay for kids' college, being able to hold on to and afford a home are real sources of anxiety for middle-class Americans today," Jacob Hacker, a professor of political science at Yale University, told Sunday Morning correspondent Rita Braver. Hacker, an author of a new book that focuses on problems facing America's middle class, says the middle class is more of a symbol than a concrete definition. "I think the symbol is people who are not rich, who have to work hard, usually both parents are working," he said. "They probably have children, that's sort of the image that we have. It's a hard-working middle-class family with kids, making $60,000 to $80,000 a year and feeling really strained economically ...full text
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