"America is being transformed from an industrial colossus to a tired, down-at-the-heels, post-industrial society."
Americans have been so busy worrying rying about all their problems that very few noticed that the U.S. is going bankrupt. Ironically, it is those very problems that are driving the nation into bankruptcy. A partial list would include crime, drugs, poverty, a failing education system, a crumbling infrastructure, soaring health care costs, lagging productivity, a huge national debt, a large trade deficit, and an anemic rate of economic growth.
Can't America just muddle through, the way it always has? Not this time. the problems are so overwhelming that there are no easy solutions. Just take a look around.
All over the country, people are wearing signs that have not been seen since the Great Depression: "Will work for food." In Santa Fe, N.M., where several hundred homeless individuals have staked out places to sleep, there is a sign under a bridge proclaiming, "This is a home." In downtown Seattle, Wash., it is possible to see people with placards that say, "No Job, No Food, No Hope." They don't even bother to add, "No Home." Former vice presidential candidate Geraldine Ferraro remembers a little girl she saw near a shut-down Pennsylvania steel mill, holding up a sign: "My daddy needs a job."
America is being transformed from an industrial colossus to a tired, down-at-the-heels, post-industrial society. It is becoming a nation of the rich and super-rich at the top, a mass of poor people on the bottom, and a powerless middle class squeezed in between.
More and more, the U.S. is taking on the trappings of Third-World poverty. The streets are filled with homeless people and beggars. Crime is rampant, and the drug epidemic continues to rage out of control. The contrast between poverty and affluence never has been sharper, except that now there seems to be a lot more poor people than ever before.