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Middle Class Matters  SACAC/PCACAC 2012
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Middle Class Matters SACAC/PCACAC 2012

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    Middle Class Matters  SACAC/PCACAC 2012 Middle Class Matters SACAC/PCACAC 2012 Presentation Transcript

    • Middle Class Matters SACAC/PCACAC Nate Crozier, University of Richmond Phyllis Gill, Providence Day School Greg Grauman, American UniversityMary Tipton Woolley, Georgia Institute of Technology Jeff Kallay, TargetX
    • Manage Expectations State of the American Middle Class BRICS and MIST Panelists Point of View Town Hall Discussion
    • “ALL in all, this is a pretty good time to be anAmerican. Think about it. The middle class isexpanding and growing richer. Once-starkinequalities are shrinking. The quality ofgovernance has improved by leaps andbounds. Politics is becoming less ideologicaland more centrist and pragmatic. And neverbefore have Americans held such sway in thewider world.”
    • “Oh, perhaps a clarification is in order. This is apretty good time to be a Latin American. For thecitizens of the United States, who tend somewhatpresumptuously to think of themselves as the onlyAmericans, this is not altogether such a good time.In the United States, in point of fact, all thosetrends are running in the opposite direction. Themiddle class is beleaguered; inequality is growing;government is gridlocked; politics is increasinglypolarised and the superpower is in a funk about itsglobal decline. Isn’t this high time for the UnitedStates to pay a little more attention to the bigchanges taking place in its own back yard?”
    • The real back yardAn interesting reversal in the Western Hemisphere April 14, 2012 http://www.economist.com/node/21552587
    • >40%Back in 1980, less than 30% of all jobs in the United States were low income jobs.  Today, more than 40% of all jobs in the United States are low income jobs. http://growth.newamerica.net/sites/newamerica.net/files/policydocs/26-04-11%20Middle%20Class%20Under%20Stress.pdf
    • -10% Since the year 2000, the United States has lost 10% of its middle class jobs.  In the year 2000there were about 72 million middle class jobs in the United States but today there are only about 65 million middle class jobs. http://www.zerohedge.com/article/must-watch-stockman-explain-ratigan-how-thirty-years-america-spent-enough-debt-lbo-itself-an
    • -$6.5 The total value of household real estate in trillion (or 33% since 2006 high)the U.S. has declined from $22.7 trillion in 2006 to $16.2 trillion today.  Most of that wealth has been lost by the middle class. http://www.nytimes.com/2012/02/01/business/economy/home-prices-decline-again.html
    • 100 According to the New York Times, Million living in povertyapproximately 100 million Americans are either living in poverty or in "the fretful zone just above it".https://myaccount.nytimes.com/auth/login?URI=/2011/11/19/us/census-measures-those-not-quite-in-poverty-but-struggling.html&OQ=_rQ3D5Q26pagewantedQ3D2Q26hp&REFUSE_COOKIE_ERROR=SHOW_ERROR
    • “Researchers believe that changes in the labor market and, to a certainextent, household composition affected the long-run increase inincome inequality. The wage distribution has become considerablymore unequal with workers at the top experiencing real wage gainsand those at the bottom real wage losses. These changes reflect relativeshifts in demand for labor differentiated on the basis of education andskill. At the same time, long-run changes in societys livingarrangements have taken place also tending to exacerbate householdincome differences. For example, divorces, marital separations, birthsout of wedlock, and the increasing age at first marriage have led to ashift away from married-couple households to single-parent familiesand nonfamily households. Since nonmarried-couple households tendto have lower income and income that are less equally distributed thanother types of households (partly because of the likelihood of fewerearners in them), changes in household composition have beenassociated with growing income inequality.” http://www.census.gov/hhes/www/income/data/inequality/middleclass.html
    • "We cant really help [our daughters incollege.] We just cant afford to. So theyvegot a lot of student loans that theyll bepaying off for a long time." -- Frankie, a married mother with threedaughters -- two in college and one more onher way -- Teton County, Montana. Special Report: The Vanaishing American Middle Classhttp://adage.com/article/special-report-american-consumer-project/vanishing-american-middle-class/230455/
    • “Applications and yield numbers are down” NACAC Study, October 2010 “Loan crisis goes to college.” CNN Money.com, May 2010“College loans are the new subprime crisis” New York Times, June 2010
    • LOANIs a FOUR Letter Word!
    • http://www.chicagotribune.com/news/local/ct-met-irish-colleges-recruit-20120415,0,6268582.story
    • http://www.usatodayeducate.com/staging/index.php/ccp/barriers-to-community-college-admission-increasing
    • BRICSBrazil - Russia - India - China - South AfricaRepresent almost half of the worlds population, with a combined nominal GDP of US$13.6 trillion and an estimated US$4 trillion in combined foreign reserves.
    • MISTMexico - Indonesia - South Korea - TurkeyHave a number of important factors in common;a large population and market, a big economy at about 1% of global GDP each, and all are members of the Group of Twenty (G20).
    • Phyllis GillAssociate Director of College Guidancephyllis.gill@providenceday.org
    • Nate CrozierDirector of Admission ncrozier@richmond.edu
    • Greg GraumanDirector of Admissions grauman@american.edu
    • Mary Tipton Woolley Associate Director of Undergraduate Admissionmarytipton.woolley@admission.gatech.edu
    • Middle Class Matters SACAC/PCACAC Nate Crozier, University of Richmond Phyllis Gill, Providence Day School Greg Grauman, American UniversityMary Tipton Woolley, Georgia Institute of Technology Jeff Kallay, TargetX
    • Improve Your Campus Visit This Summer May 18 3pm Eastern
    • Middle Class Matters SACAC/PCACAC Nate Crozier, University of Richmond Phyllis Gill, Providence Day School Greg Grauman, American UniversityMary Tipton Woolley, Georgia Institute of Technology Jeff Kallay, TargetX