A visit to a local public Recycling Center provided a window into how some local residents are surviving America’s economic decline. In addition to dropping off cans, bottles and cardboard for recycling some were actually scavenging through the newspaper bin for supermarket coupons to help defray food costs.
Many have witnessed life’s savings, including I,R,A, and 401-K retirement accounts dwindle as the Dow Jones Industrial Average plummeted for nine consecutive days. They have seen relatives, friends and neighbors jobless and threatened by record foreclosures and rising inflation. They have witnessed political gridlock and lack of leadership in Washington, D.C.. They fear a downgrade of America’s credit rating will further impact their financial predicament.
They listen to leaders who believe raising taxes rather than cutting irresponsible overspending is the solution. They fear that government debt and trillion dollar deficits are leaving the future in doubt for children and grandchildren.
At the same time, they watched President Obama and his Party hit the jackpot as they seek a $1,000,000,000 re-election campaign fund. They read about over 1,100 birthday fund-raising parties nation-wide to celebrate his 50th birthday. In Chicago, millionaire friends, lobbyists and supporters paid $35,800 to dine with the President. Others forked over $10,000 for a photo with him.
Following the parties President Obaama hosted a huge White House celebration attended by his star-studded rich Hollywood friends and supporters. One can only wonder how comforting all of this is to those seeing life’s savings melt away?