Letters to the Editor
This letter is associated with the following article:
-
There was no recovery
For most Americans, the 7 years under Bu$hco has been a constant recession. Few people saw their incomes increase, while costs have only gone up. Many people were supplementing their earned income with credit cards, home equity loans, etc.
The subprime crash and subsequent credit market implosion cut off that source of funds for many as housing values declined and the rates for personal credit increased.
At the same time, the safety net is full of holes - less severance when laid off, no healthcare coverage, crappy pension/retirement plans.
How many people can say "Yes", when you ask if their personal financial situation is better today than it was in 2000?