two headlines speak volumes about the economic conditions of the middle class in America today: Sunday's New York Times headline, ``Hourly Pay is Not Keeping Pace With Price Rises''; yesterday's Wall Street Journal, ``So Far, Economic Recovery Tilts to the Highest Income Americans.'' And for the middle class we have a wage and benefit recession. These headlines show that there is two-track economy, one for the very wealthy who are doing well, and one for the middle class who are struggling to keep pace with their middle-class dreams and providing for their children. What we have today is a $500 billion deficit all financed because we are trying to wage three wars with three tax cuts and showing it cannot be done. Republicans have chosen to put off addressing America's health care crisis, rising tuition costs, stagnant wages, and the ever-elusive retirement security. As corporate profits boom in America by 16 percent, America's middle class are feeling squeezed by stagnant wages and rising health care costs. While sales of BMWs and at Neiman-Marcus are rising, same store sales at Target and Wal-Mart are stagnant. With a record like this, only this administration would wave the banner, ``Mission Accomplished'' above the economy. It is time to put that banner back where it came from.
Editor's note · Context
Addressing economic conditions affecting the middle class during a speech on the House floor.
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