American Middle Class Continues to Take It on the Chin

American Middle Class Continues to Take It on the Chin

According to government figures released today, incomes in the U.S. grew at the slowest pace since November 2002. The income growth rate of .1 percent for July was only one-fifth the rate that many economists predicted and half the rate of growth for June. Even though income growth was anemic, consumer spending rose .8 percent in July as Americans piled on more and more consumer debt.

Sanders said, "Middle income and working families are being left further and further behind in this so-called 'recovery.' This Administration's trade policy is accelerating the outsourcing that is sending more and more good paying jobs to China, India and elsewhere. Americans cannot keep this economy afloat on their credit cards forever. We need an economic policy that creates the good paying jobs here at home so that this 'recovery' helps everyone and not just overcompensated, corporate CEOs and Wall Street investors."