The slow death of NC's middle class

Suburban life isn't as financially secure as it used to be:

Even though the population in North Carolina’s suburbs declined by 2 percent from 2000 to 2006-2010, the number of people who were poor in the suburbs grew by 40 percent. The poor population grew 13 times more in the suburbs than in urban areas. By 2006-10, the poverty rate in the suburbs was 13.2 percent.

In theory, those who live in the suburbs could buffer their job losses by borrowing against their homes or trading down and using the surplus to weather the economy. But with the housing market in the toilet, that theory only works on paper.

Research shows many suburban areas were unprepared to address the rising demand for services during the Great Recession and the feeble recovery. In 2010, a national survey found that of those suburban non-profits that reported a jump in demand for services, the average increase was 30 percent. Also, nearly 3 in 4 of the suburban non-profits surveyed reported that they provided help to first-time clients.

Compounding the pressure from this growing need, suburban service providers also face budget difficulties due to decreases in public and philanthropic funding.

There's no doubt this economic situation has flipped many preconceived notions on their heads. But the massive loss of wealth from the financial sector was both predictable and avoidable, and (as far as I'm concerned) we haven't learned a single lesson from that debacle.

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1980-2009
3 Republican Presidents—18 years R Senate—12 years R House
Brief on accomplishments::
Budget-600 to 3500 (less wjc itsy)
Debt-- 1000 to 10,000
Deficit—Surplus to 1400 Deficit
Jobs-218,000 per month to 99,000
10—initiated our involvement in 10 foreign conflicts where
hundreds of thousands died and wasted billions
Smashed the great S&L Industry
Smashed the Housing Industry
17 Million manufacturing jobs down to 11 million
Watched our Manufacturing Industry move overseas
as Multi Nationals made record profits

Want more of this?

clarence swinney

c-b-o- heaven on earth to hell on earth

CLINTON TO BUSH TO OBAMA
Who Dug the Deep Hole? Who Fumbled the ball?
Numbers rounded

Clinton left Bush an 1800B Budget
Bush Left Obama a 3500 Budget

Clinton left Bush a 240B Surplus as far as the eye can see
Bush left Obama a 1400B Deficit as far as the eye can see

Clinton left Bush 5,700B of Debt
Bush left Obama 11,800B of Debt

Clinton left Bush a 237,000 net new jobs created per month
Bush left Obama a 31,000 lowest number since Hoover.

Clinton left Bush 17 Million Manufacturing Jobs
Bush left Obama 11 Million Manufacturing Jobs

Clinton left Bush a 10,800 Dow
Bush left Obama an 8028 Dow

Clinton left Bush Peace on Earth Good Will From Most Men
Bush left Obama Hell on Earth Two disastrous wars. Enmity of 1500 Million Muslims

Clinton left Bush a President most highly rated of any peacetime President in Asia, Africa, Europe.
Bush left Obama the most hated President in history
Bush left Obama an Housing Tsunami and Financial Volcano
Bush left Obama, in 2008, an 8500B Bail out commitment Yes! 8500 not just 700
Bush left Obama his Takeover of Fannie/Freddie, AIG, and first bailout of Chrysler
Bush increased maximum loan by Fannie/Freddie from $153,000 in 2000 to $300,000 then to $729,000
That is how F&F got stuck with so many toxic mortgages. Bush gift to Big Bank pals.
Bush increased FDIC maximum deposit coverage from $100,000 to $250,000. Help the rich.

clarence swinney

How you vote counts 89 ways

VOTERS REMEMBER THESE WHEN YOU VOTE
WHO GAVE YOU:
Social Security-Medicare-Medicaid-GI Bill-Savings & Loan Industry-Marshall Plan-Peace Corps-Small Business Investment Act- Schip-Clean Air Act-Voter Rights—Head Start-Peace in S. Africa-Peace in Northern Ireland-Minimum Wage-Veterans Administration-Fairness Doctrine—Revenue Sharing
my list has 89 can you name 10 by Republicans

clarence swinney