And yet another example of why the majority of Americans support Occupy Wall Street. With the old days of easy credit many could overlook the reality of a declining standard of living, but those days are gone. There’s nothing left to hide the fact that the middle class is shrinking and only the select few are getting ahead and doing better than ever.
The Democrats have not done a great job addressing this issue but the GOP has not even recognized that it’s an issue. They’re too busy either blaming the unemployed for being unemployed or they’re smearing the OWS protesters that Americans support.
The misery index — which is simply the sum of the country’s inflation and unemployment rates — rose to 13.0, pushed up by higher price data the government reported on Wednesday.
The data underscores the extent that Americans continue to suffer even two years after a deep recession ended, with a weak economic recovery imperiling President Barack Obama’s hopes of winning reelection next year.