While theories abound on how we got into this economic mess, and who ought to shoulder more or less of the blame, folks in the real world are dealing with the consequences

Time for a few notes from reality, for some perspective among the Beltway crowd spending far too much time scrambling for CYA and propping up pals, and far too little time thinking of the little guy:

– The brunt of the intial pain?  Falling on folks who can least afford it.

With jobs scarce, many college graduates find themselves taking jobs that do not require a degree, and laid-off middle-income workers are taking lower-paying jobs in areas like retail sales. A kind of domino effect is beginning to squeeze out the least skilled or experienced workers — those already on the bottom of the ladder — who are settling for part-time employment and fewer hours if they can find work at all. Hardest hit of all are younger job-seekers, especially black males in their late teens or early 20s without more than a high school education.

– Whose employment is increasing? Folks over 65. With drastically shrinking retirement portfolios and rising costs of drugs and groceries, the "golden years" set are facing some stark choices with their shrinking fixed incomes.

– Speaking of grocery costs and budgeting, food banks are in dire need because demand on them has increased substantially.   Grocery costs are still up despite dips in fuel and corn costs.  Aren’t stagnant wages, for those still earning them, just awesome?

– And the safety net?  What’s left of it, anyway.  Here’s hoping we don’t all end up testing it’s limits – that would be even uglier.  But given the jobless claims trend?  Not looking great.  

– Consider the high costs of our oil addiction in this one story.  And the short-sighted way we conduct ourselves in terms of long-term consequences – Jane’s superb piece on the Volt is a great case in point.  As is Marcy’s on Flint.  We have to do better.  Step one?  Stop allowing people who run us into the ditch to profit from their craptastic actions.

– As state budget revenues shrink, programs which provide for at risk kids shrink as well.  These children can least afford any loss of health care, food programs at school and early childhood education as they struggle to survive as it is.  Our nation’s children deserve more consideration than being a tiny blip on the policy table, that’s for certain.  Having worked with hungry kids who would ravenously devour a pack of crackers out of my briefcase before a hearing as the only food they’d had in ages — thank goodness for school lunch programs for these kids during the school year — or seen kids have to deal with homelessness at the ripe old age of three, or going to bed hungry or cold more nights than not?  Poverty doesn’t go away for those children just because we sweep it under the national rug.  

Naomi Klein lays out the need for consideration of real world issues as the Obama transition goes forward.  Better transparency and less self-dealing would be a good start.  How’s your budget holding out these days? 

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