America At Risk

The economy is bouncing back, and many Americans are starting to feel slightly optimistic. However, the current economic climate is going to have a long-term impact on the middle class and the well-educated.

The entire nation lost some of its spunk during the recession that lasted from 2007 – 2009. Even now, in 2011, many people disagree that the recession has ended. Perhaps we are at the beginning of a double-dip recession. Gas prices are rising; home prices are declining; unemployment is lower but many are still unemployed or underemployed; school, cities and state are decreasing funding and programs; and the U.S. Government’s deficit is increasing and they are approving only weekly budgets to prevent a total government shutdown.

There are changing fortunes in America and there is widespread unease about the nation’s future. Many long-term prospects were damaged by the recession as people lost money on their investments and had significant damage to household finances. Household net worth is down about $9 trillion from peak levels of 2007. Guaranteed pension plans decreased to 40% in 2008 and numerous Americans are reacting to the economic downturn by no longer actively planning and saving for retirement. Many Americans will keep working well past retirement age, if they can find jobs.

Many people sense a national decline. Washington politicians mount arguments but can’t solve the big problems impact American citizens. The huge national debt looms like a black cloud over our economic future. The standard of living is declining for most Americans. At $4.00 per gallon for gas and $4.00 per loaf of bread – how can our standard of living not take a hit?

 Is America still the land of opportunity? Is the American Dream still real?