By: Jim Hoover

Now that the great recession has drug down the great bulk of Americans, who is left to support the top 2% greed glut?

The answer is Beijing.

Republicans forced the continuation of the tax cuts for the rich on pliant Democrats, so now we can borrow more money (from the Chinese..and others) to give tax cuts to the richest Americans.

And the Paul Ryan budget plan wants to borrow even more from foreign countries like China to give additional tax cuts to the rich. Did your Republican representatives, including the buff Paul Ryan above (who exercises every day), campaign on that?

Some media sources even said that he is heroic in his plan. If heroic is profligate spending for a few, with future generations paying for it, I agree.

What an investment in America’s future!!!

Here are just some of the sobering facts from The Daily Ticker:

· There are 8.5 million people receiving unemployment insurance and over 40 million receiving food stamps.

· At the current pace of job creation, we will have full employment in 2018.

· Middle-income jobs are disappearing. Their share in the US has fallen from 52% in 1980 to 42% in 2010.

· Seventeen million Americans with college degrees are doing jobs that require less than the skill levels associated with a bachelor’s degree.

· Over the past year, nominal wages grew only 1.7%, while all consumer prices, including food and energy, increased by 2.7%

· Wages and salaries have fallen from 60% of personal income in 1980 to 51% in 2010.

What does this mean?

The simple answer is that the middle class is shrinking. The more complex answer is that plutocrats (the rich) are re-structuring the economy in their image, like the gods they imagine themselves.

For us it means a declining national economy, no longer boasting of a 70% consumption rate.

For the rich, it is a global economy which features untold wealth in a world that is their oyster.

How do you think that will work out for you, folks?