This is a recent video history, centered around the year 2005 and the middle of the Bush years, that explains just how we got to this point. Watch all the warnings, all the bad policy, outrageous spending, the language and spin, that look and sound so familiar now. Deja vu on steroids. I will add newer archive clips so they appear immediately below. This is not a waste of time, but an explanation as to why jobs are scarce and pay is low. Sadly, the concepts and facts below have been lost on the media and to the passage of time.
Labor Shortages Should Increase Wages!!! You've heard it before: Willing immigrant workers are taking jobs Americans won't take. It is a false premise and anti-free market. Instead of illegally hiring low wage immigrant workers, labor shortages would normally force businesses to increase wages to attract applicants. A shortage creates demand, increasing the price due to that demand. It makes free market sense, doesn't it.
H1-B Visa's allow cheap imported labor into the country. Businesses claim they need the skill level of foreign labor, but are really trying to lower wages. It also crowds out American workers.
The Republican House in 2005 voted to cut $14.5 billion from the federal student loan program. Yes, they're trying to do that again now. They would essentially, in effect, be adding $2 billion dollars of new taxes on loans for students and their parents. Same policies...
Running out of skilled workers? The truth is, companies don't want to train employees and pay them more for their skills.
This a look at the impact of globalization in Illinois, and across the nation. Stagnant paychecks, shrinking jobs.
The effects of NAFTA CAFTA on Farmers, Textiles......and the Middle Class:
Conservative extremist Bay Buchanan sides with middle class, denouncing outsourcing and decreasing wages:
Greg Spotts author of American Jobs (a video too), reveals research that backs up predicted devastation of the middle class due to NAFTA and CAFTA: