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Politics | A Better Bargain for the Middle Class: Part 1‏


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Over the past five years the Great Recession has come and gone, leaving a trail of financial and economic turmoil damaging the confidence and stability of the middle class.  A couple of weeks ago at Knox College, the President Obama kicked off what will be a series of speeches laying out the progress we’ve made since 2008 and the work that’s left to rebuild an economy where everyone who works hard can get ahead.  These speeches will touch on the cornerstones of what it means to be middle class in America.  Over the next several months the President will engage the country in debate over 6 key pillars of what is believe to be the foundation of America’s middle class:

  1. Jobs
  2. Housing
  3. Education
  4. Healthcare
  5. Retirement Security
  6. Ladders of Opportunity

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Jobs and Economy

Over the past 41 months, 7.3 million private sector jobs were added. Over the past three years, after shedding jobs for a decade, America’s manufacturing industry has added about 500,000 positions. Production is growing at its fastest pace in over a decade.

How will the President continue this positive trajectory of steady economic growth?

  • Simplify the tax code for businesses.

This will be accomplished first by ending incentives on companies that ship jobs overseas and providing tax breaks for those businesses that create jobs right here at home.  The President will also lower tax rates for manufacturer jobs to fuel domestic growth in one of the hardest hit industries during the Great Recession.  Lastly the President will relive the tax burden on small businesses so they can investment more in technology, innovation, and most importantly… people.

  • Create good paying jobs.

“No one who works full-time in America should live in poverty.” President Barack Obama

This is why the President is laying out an agenda that will put construction workers back to rebuilding our critical infrastructure; expanding the network of high-tech manufacturing hubs, strengthen job training at our community colleges, and raise the national minimum wage to $7.25 per hour.

jobs-economy-600X300

Homeownership

In Phoenix, AZ, President Obama laid out his ideas to strengthen the housing market and ensure responsible middle class families have access to affordable mortgages and refinancing. But he made it clear that we can’t go back to the same bubble-and burst housing system that caused the financial crisis. We need a rock-solid foundation for financing homeownership with a bigger role for the private sector, where taxpayers aren’t on the hook for the irresponsible behavior or bad decisions of financial institutions.

The moment he stepped foot in office back in 2009, he set a goal to restore security to homeownership therefore making it one of his top economic priorities. Before taking office, home prices were falling at the fastest rate than any period in the last 40 years. Today, home prices are rising at the fastest pace in over 7 years. Home prices rising have brought 2.4 million homeowners above water. Because of the low interest rate environment, today a typical family could save $3,000 a year by refinancing their mortgages(s). Check out the infograph below to see how the President plans to continue his efforts in building a better foundation for middle class homeownership.

protecting_homeownership_infographic_8513-page-001 Key Facts

  • Home starts up 75% since April 2009.
  • Homeowner equity since crisis low up $2.8 trillion.
  • Home sales since crisis low up 47%.
  • Bottom Line: More people are buying homes, home prices are rising, and more homes are being built.

This week, President Obama is on a bus tour to talk about his ambitious new agenda to keep college affordable for middle class families.  Today at 11am est. the President will make his first stop at the University of Buffalo to offer his plan to make college more affordable, tackle rising costs, and improve value for students and their families.  Please go to http://www.whitehouse.gov to check out the President’s speech and plan to reform our education system that would bring lasting change.

Corbin Norman can be reached directly at corbin@pslovecharli.com. He is also active on his Twitter page, GeniusIAm and personal blog, The Genius Way.

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