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News Link • Economy - Economics USA

America's Descent into Poverty

• http://www.thedailybell.com, by Paul Craig Roberts
 The country that exists today is not even a shell of the country into which I was born. In this article I will deal with America's economic collapse. In subsequent articles, i will deal with other aspects of American collapse.

Economically, America has descended into poverty. As Peter Edelman says, "Low-wage work is pandemic." Today in "freedom and democracy" America, "the world's only superpower," one-fourth of the work force is employed in jobs that pay less than $22,000, the poverty line for a family of four. Some of these lowly-paid persons are young college graduates, burdened by education loans, who share housing with three or four others in the same desperate situation. Other of these persons are single parents only one medical problem or lost job away from homelessness.

Others might be Ph.D.s teaching at universities as adjunct professors for $10,000 per year or less. Education is still touted as the way out of poverty but increasingly is a path into poverty or into enlistments into the military services.

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