Leo Hindery has increasingly become America's corporate voice for the shrinking middle class and the billowing poor. Over the years, he has made his voice known mostly in speaking and politics. However, his informed opinions have resonated particularly powerfully in the last months writing a weekly column for The Huffington Post.
In this week's column he sings the praises of New Left/Progressive/Liberal heroine Arianna Huffington's new book, Third World America. In his review, Hindery also takes the opportunity to remind us all of the massive work that needs to be done for the unemployed and America's poor. You can read his entire review by clicking here but here is an excerpt:
As a member of the "professional left", which is White House Press Secretary Robert Gibbs' epithet for those of us who believe that campaign promises made by Candidate Obama in 2008 should be kept by President Obama in 2009 and 2010, it's easy for me to have distress over the true state of the U.S. economy. And this same sense and level of distress are what I believe motivated Ms. Huffington, obviously a fellow 'member', to write her book. She realizes, as I and others have, that:
-The top 10 percent of Americans now earn half of our national income, while the bottom 90% collectively own less than 2 percent of the nation's wealth. There is more income inequality in America than at any time since 1928, when this statistic was first kept.
-61 percent of Americans "always or usually" live paycheck to paycheck, which is up from 49% in 2008 and 43 percent in 2007.
-Approximately 21 percent of all children in the United States are living below the poverty line, which is the highest rate in 20 years.
-Only the top 5 percent of U.S. households have earned enough additional income since 1975 to match the rise in housing costs.
-83 percent of all U.S. stocks are in the hands of just the top 1% of Americans. And the top 1 percent of U.S. households own nearly twice as much of America's corporate wealth as they did just 15 years ago.
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