As the corporate media bangs the drum of imminent recession, we need to take a look at how tens of millions of American households that live paycheck to paycheck are situated for another choreographed downturn.
It will tell you all you need to know about the predatory nature of late-stage vulture capitalism, over which Donald Trump presides as its orange mascot. What jumps out when you look at the data is just how phony the “longest recovery” has been — the one for which Joe Biden wants to take a victory lap.
The stark reality is that in the last decade or so the rich have gotten richer as the rest of the country has sunk deeper and deeper into debt, with little to show for it except rent receipts.
As we head into the next downturn, whenever it happens, tens of millions of American families are hanging on the edge of economic oblivion. Thanks to the Trump tax cut, their government will be too much in debt to throw them a lifeline.