Low and Middle income Americans Stuck in the Great Recession Ditch as Top 10% take 50% of the Income

Peter Mathews on KTLK AM 1150, the David Cruz Show: (Sept. 18, 2013). Median household income is 8.9% lower than in 2007; rich-poor gap largest in 100 years. The Rich and Wall Street are in high gear with huge income gains, while Main Street, working Americans, and unemployed Americans are in neutral or reverse with income loss since the Great Recession began. Over 46.5 million Americans are in poverty, Professor Mathews added, citing Census Bureau reports and recent findings by Professor Emmanuel Saez of UC Berkeley. While older workers were hit hard by layoffs, such as Boeing’s announced termination of nearly 3000 C-17 workers, Young Americans have been hit especially hard, with severe cuts to education and well paying jobs, says Mathews, Professor of Political Science and Sociology at CypressCollege and Long BeachCityCollege, respectively. He recommends that California establish a California Works Progress Administration (CWPA) and a California Small Business Administration (CSBA), modeled after FDR’s New Deal programs, in order to create well paying jobs for Californians to rebuild the State’s infrastructure, and to start and expand Small Business, which hires two thirds of Americans, but is suffering today.  (10 min.)  [Listen]