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Best Web OpEds    H3'ed 7/3/19

The Facts: About the slow pace of the recovery: "The inequality of prosperity is a defining issue

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'The least affluent 70 percent of American households had less wealth  2018 than at the beginning of 2007, according to the Federal Reserve . The top 30% of households saw some small increase, but the big gains were heavily concentrated at the very top, in the hands of a small proportion of extraordinarily wealthy families. Also,  public and private sectors have largely refrained from investing the tax cuts -- companies have handed out dividends & repurchased shares, distributing profits among the already wealthy rather than develop the intellectual capital and equipment that could increase growth in the decades ahead, as investments in public universities, highways, fundamental scientific research and satellite networks did in the past. There is also reason to worry that America has squandered the opportunity for a more prosperous future.'

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At www.nytimes.com

 

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I began teaching in 1963,; Ba and BS in Education -Brooklyn College. I have the equivalent of 2 additional Master's, mainly in Literacy Studies and Graphic Design. I was the only seventh grade teacher of English from 1990 -1999 at East Side (more...)
 

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Truth: This inequality of prosperity has become a defining issue in the nation's politics. President Trump ran on the promise that he would restructure the economy to revive employment in mining and manufacturing. Democrats vying to run against the president in 2020 are offering their own prescriptions for economic revival and speaking of the plight of American workers in language usually reserved for recessions.


While unemployment is low, the slow pace of the recovery means that the average rate of unemployment in a given month during the past decade was a full percentage point higher than during the 1991-2001 expansion and almost two points higher than between 1961 and 1969.


"That rhetoric contrasts with the slow but steady improvement in economic conditions over the past decade. The unemployment rate is bumping along at the lowest levels since the 1960s; wages have started to rise more quickly, particularly for low-wage workers .

Submitted on Wednesday, Jul 3, 2019 at 3:39:15 PM

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