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The Visor Archbishop Hoban High School Akron, OH
Issue Date: Thursday, April 09, 2009 Issue: Issue 11 08-09 Last Update: Monday, April 20, 2009
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At-a-glance

Erosion of middle class an unfortunate reality for Ohio
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The rich are getting richer, and the poor are getting poorer. That’s not exactly something inspiring to hear as the generation soon to be inheriting the economy.

A recent study done by the Akron Beacon Journal brought to light the fact that the middle class of Ohioans is slowly evolving into the extremely wealthy and the especially poor. Following the national trend, incomes in Ohio are simply not adjusting to the costs of living. Leaving no room for a happy middle ground, extreme economic predictions are scary to for young people heading into the business world.

Described by the Beacon as a couple who did everything right, the husband and wife on whom the newspaper based its story found themselves filing for bankruptcy after a series of unlucky events left them both unemployed with massive credit card debt. Striking me the most was the fact that these were people who went to college, worked hard, managed their finances and still ended up in a bankruptcy hearing. Nightmares like this are not exclusive to the people who choose to make huge financial mistakes. Situations like these are no longer shocking but rather indicative of the disintegrating middle class.

A consequence of the current financial crisis, the recipe for success has changed over the past several decades and not for the better. Gone are the days when putting in a 60 hour work week would guarantee corporate advancement and prosperity. No longer is the willingness to work hard enough to even keep a steady job. The more simple work days of our grandparents and parents are quickly coming to an end as college costs balloon and job markets shrink.

No ideal has become as muddled by the present economy as the American dream. Start from nothing, work your way up and live happily ever after: this ideology is what made America famous as the land of opportunities. Hard facts conclude that this philosophy has more or less transformed from optimism to fantasy. To cap off the pessimistic outlook, we are currently predicted as being the first generation of Americans that will not do better than our parents. One man in the newspaper described his American dream as “being able to keep my house.” Are we still in control of our own destinies, as claimed by the American dream, or are we the hopeless victims of a spiraling economy?

Going into a world where tenacity and ingenuity will be key, we must realize what we’re up against now before we’re stuck in a situation like the couple that was profiled by the Beacon. Consider the big picture when voting and never compromise the value of a good education because voting wisely and thinking outside the box are essential if we are to reverse this downward trend.

Despite what anyone says, this is our country and our economy, the success or failure of which is ultimately up to us.

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