The Third Way adds: "...While economic conservatism is premised on the myths of an infallible market and incompetent government, neo-populism is premised on the myths of a failing middle class, a declining America, and omnipotent corporations." I call that independent populism, not neo-populism. And I also call that truth.
The middle class is also working more hours than ever before: Thirty years ago Americans worked an average of 43 weeks, but now U.S. workers are putting in an average of 47 weeks per year, according to the Bureau of Labor Statistics. That's in stark contrast to the rest of the industrialized world, where the number of hours worked in all other countries except for Canada has decreased over the past 30 years, the Organization for Economic Cooperation and Development reported.
About one-third of the families in this country bring in less than $35,000 of income each year, according to the Census Bureau, a figure that's nowhere close to ensuring the quality of life and standard of living to which many Americans have grown accustomed. I fear the American Dream may finally become the American Pipe Dream.......
http://www.cnn.com/2007/US/02/20/Dobbs.February21/index.html?section=cnn_topstories&eref=yahooThese families at the bottom of the wage scale are really struggling. According to the Federal Reserve's most recent comprehensive Survey of Consumer Finances (released every three years), average family income from 2001 to 2004 fell 2.3 percent, and the median net worth of the bottom 40 percent of families declined as well. And real median wages declined by more than 6 percent during the same period.