middle class matters sacac/pcacac 2012
DESCRIPTION
Slides in PDF with panelist emailsTRANSCRIPT
Middle Class Matters
Nate Crozier, University of Richmond Phyllis Gill, Providence Day School
Greg Grauman, American University Mary Tipton Woolley, Georgia Institute of Technology
Jeff Kallay, TargetX
SACAC/PCACAC
Manage ExpectationsState of the American
Middle ClassBRICS and MIST
Panelists Point of ViewTown Hall Discussion
“ALL in all, this is a pretty good time to be an American. Think about it. The middle class is expanding and growing richer. Once-stark inequalities are shrinking. The quality of governance has improved by leaps and bounds. Politics is becoming less ideological and more centrist and pragmatic. And never before have Americans held such sway in the wider world.”
“Oh, perhaps a clarification is in order. This is a pretty good time to be a Latin American. For the citizens of the United States, who tend somewhat presumptuously to think of themselves as the only Americans, this is not altogether such a good time. In the United States, in point of fact, all those trends are running in the opposite direction. The middle class is beleaguered; inequality is growing; government is gridlocked; politics is increasingly polarised and the superpower is in a funk about its global decline. Isn’t this high time for the United States to pay a little more attention to the big changes taking place in its own back yard?”
The real back yard
http://www.economist.com/node/21552587
An interesting reversal in the Western Hemisphere
April 14, 2012
>40%Back in 1980, less than 30% of all jobs in the United States were low income jobs. Today, more than 40% of all jobs in the
United States are low income jobs.http://growth.newamerica.net/sites/newamerica.net/files/policydocs/26-04-11%20Middle%20Class%20Under%20Stress.pdf
-10%Since the year 2000, the United States has lost 10% of its middle class jobs. In the year 2000
there were about 72 million middle class jobs in the United States but today there are only about
65 million middle class jobs.http://www.zerohedge.com/article/must-watch-stockman-explain-ratigan-how-thirty-years-america-spent-enough-debt-lbo-itself-an
-$6.5The total value of household real estate in the U.S. has declined from $22.7 trillion in 2006 to $16.2 trillion today. Most of that wealth has been lost by the middle class.
http://www.nytimes.com/2012/02/01/business/economy/home-prices-decline-again.html
trillion(or 33% since
2006 high)
100According to the New York Times,
approximately 100 million Americans are either living in poverty or in "the fretful
zone just above it".https://myaccount.nytimes.com/auth/login?URI=/2011/11/19/us/census-measures-those-not-quite-in-poverty-but-struggling.html&OQ=_rQ3D5Q26pagewantedQ3D2Q26hp&REFUSE_COOKIE_ERROR=SHOW_ERROR
Millionliving in poverty
“Researchers believe that changes in the labor market and, to a certain extent, household composition affected the long-run increase in income inequality. The wage distribution has become considerably more unequal with workers at the top experiencing real wage gains and those at the bottom real wage losses. These changes reflect relative shifts in demand for labor differentiated on the basis of education and skill. At the same time, long-run changes in society's living arrangements have taken place also tending to exacerbate household income differences. For example, divorces, marital separations, births out of wedlock, and the increasing age at first marriage have led to a shift away from married-couple households to single-parent families and nonfamily households. Since nonmarried-couple households tend to have lower income and income that are less equally distributed than other types of households (partly because of the likelihood of fewer earners in them), changes in household composition have been associated with growing income inequality.”
http://www.census.gov/hhes/www/income/data/inequality/middleclass.html
"We can't really help [our daughters in college.] We just can't afford to. So they've got a lot of student loans that they'll be paying off for a long time." -- Frankie, a married mother with three daughters -- two in college and one more on her way -- Teton County, Montana.
http://adage.com/article/special-report-american-consumer-project/vanishing-american-middle-class/230455/
Special Report: The Vanaishing American Middle Class
“Applications and yield numbers are down”NACAC Study, October 2010
“Loan crisis goes to college.”CNN Money.com, May 2010
“College loans are the new subprime crisis”New York Times, June 2010
LOANIs a FOUR Letter Word!
http://www.chicagotribune.com/news/local/ct-met-irish-colleges-recruit-20120415,0,6268582.story
http://www.usatodayeducate.com/staging/index.php/ccp/barriers-to-community-college-admission-increasing
BRICSBrazil - Russia - India - China - South Africa
Represent almost half of the world's population, with a combined nominal GDP of US$13.6 trillion and an estimated US$4 trillion in
combined foreign reserves.
MISTMexico - Indonesia - South Korea - Turkey
Have a number of important factors in common;a large population and market, a big economy at
about 1% of global GDP each, and all are members of the Group of Twenty (G20).
Nate CrozierDirector of Admission
Greg GraumanDirector of Admissions
Middle Class Matters
Nate Crozier, University of Richmond Phyllis Gill, Providence Day School
Greg Grauman, American University Mary Tipton Woolley, Georgia Institute of Technology
Jeff Kallay, TargetX
SACAC/PCACAC
May 18 3pm Eastern
Improve Your Campus VisitThis Summer
Middle Class Matters
Nate Crozier, University of Richmond Phyllis Gill, Providence Day School
Greg Grauman, American University Mary Tipton Woolley, Georgia Institute of Technology
Jeff Kallay, TargetX
SACAC/PCACAC