Well Now Here's Your Problem

Via TPM, the problem with our economy in the last 50 years:



We're now down to just 8% of America's jobs being in the manufacturing sector, down from a high of 38% during WWII.

Manufacturing jobs and home ownership created the middle class. Both are dwindling rapidly now...along with the middle class. The problem certainly predates Obama, this decline has been going on since Ike first pointed out the military-industrial complex.

But as we went away from making things to a consumer-based service economy, we became more and more vulnerable to a housing bubble. before we still had enough of a manufacturing base to produce our way our of recessions like we did in the 70's and 80's.

Now? Not so much.