More examples of an economy that is growing? Whose future is robust? From the NY Times of 7 Sept 2006:
Quote:
Report Finds U.S. Students Lagging in Finishing College
One particular area of concern, Mr. Callan said, is that younger Americans — the most diverse generation in the nation’s history — are lagging educationally, compared with the baby boom generation.
“The strength of America is in the population that’s closest to retirement, while the strength of many countries against whom we compare ourselves is in their younger population,’’ he said. “Perhaps for the first time in our history, the next generation will be less educated.’’
Over all, the report said, while other nations have significantly improved and expanded their higher education systems, the United States’ higher education performance has stalled since the early 1990’s.
At the same time, for most American families, college is becoming increasingly unaffordable. While federal Pell grants for low-income students covered 70 percent of the cost of a year at a four-year public university in the 1990’s, Mr. Callan said, that has dropped to less than half.
“It’s going backwards,’’ he said. “Tuition is going up faster than family income, faster than inflation, faster even than health care.’’
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As American incomes fall for so many, among some of the first to suffer would be those who don't appear in those economic statistic until so many years later. Short term economics statistics suggest that this is the best it gets? That is not what the long term indicators suggest complete with a Federal Reserve that is even discussing the worse of economic conditions - stagflation.