Our nation’s economy is approaching a precipice. The continuing housing market crisis has stripped about $10 trillion from families’ assets, and nearly 1 in 10 workers are unemployed. Nearly 1 in 10 others are either working less than they want or have given up their job search. Family income is now back where it was in 1996, in inflation-adjusted dollars.
This all means there is less money flowing through our economy. That’s just math.
The above excerpt was originally published in U.S. News & World Report. Click here to view the full article.
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