so
i again i i i want to just damn basically lay out a rant here
thirty years a reaganomics
what is it done
we have thirty years
is
cleanly
to johnnie our generation's twenty
twenty years moral asserted he had a uniquely awake covers at least one
generation half of the generation
really its blood into a third year the baby boomers you had generation x_
seeped out
uh... the more ideals
and
the republicans the reina reaganomics that you know i talked about this a
little earlier that that you noticed in some cases these conservatives are doing
this are the best intentions they really genuinely think
that if people are economically in secure this was alan greenspan's phrase
then so you have higher levels of social stability in
you know they they will be haven themselves
social stability is important thing in the conservative world
but the fact is that in the nineteen fifties and sixties and seventies
we had
continuously growing incomes and the forties
and the thirties
continuously growing income
in people's families
continue anna and crude about the same rate that productivity grew so
as companies
were able to get more more work out of their employees
they paid their employees more for that work
very straight forward stuff in the result of that was that by the sixties
you had a strong middle class the united states where
with a high school diploma
you could get a good decent job you can work that job forty hours a week and you
could have a vacation for a week or two a year and you could
witcher kids through school and you could buy a house and buy a car every
couple years
and and even have
you know health insurance from
and a pension or retirement benefits
people actually save for their return
and then begin the reagan bubble in the nineteen eighties
as we were out of the seventies and early eighties
we went out of the air uh... of new deal
onam x new deal economics inundating rear era of reaganomics and we've been
in the air of reaganomics for thirty two years
and what it had what has it produce
well personal
c_e_o_'s wages have exploded
which i guess you'd expect owning no reagan and his inaugural ball he's
basically said this is it you know no more this jimmy carter walk into the
white house kind of stuff and none of the zachary taylor let's invite people
in so you gotta pay
big bucks fancy clothes expensive ball
so by two thousand eight c_e_o_ pay was skyrocketing
and workers pay was flat
federal minimum wage
actually went down nine percent inflation just dollars
production workers pays one at four point three percent from nineteen
ninety-two two thousand five and not much include the the bush crash it's
actually gone down corporate profits however up over a hundred percent
the s_ and p_ up over a hundred and forty percent and the pay for ceos
three hundred percent
average hourly earnings have declined
before reaganomics average hourly earnings twenty dollars an hour
now rent eighteen dollars an hour
an average and he can one is an average and average hourly earnings have
essentially stayed the same adjusted for inflation
so why has filled in that gap
income growth has not gone up
but things have gotten more spencer
life is got more complicated with we've shifted a lot of expenses into
people's lives that used to be paid not by them for example education
thirty years ago
you could
i have a high school diploma and get a decent job in raise a family
which means the air educational prospers zero
one hundred percent of the cost of education was born by the government
pro public school
now
you basically have to have a college degree to even put all pfeiffer
entry-level jobs in many places
and therefore years a college is not paid for by the government
increasingly as guns a year to of preschool particularly if two people the
family are working
it takes a couple years so instead of twelve years of education we need
sixteen years eighteen years of education in order to have that same
dear auntie of just being in the media
just having a and the average income
and what has that don
well you know now you have to have sixteen years of education used to be
heeded by which is twelve years of education
twelve years of education one hundred-percent paid for by the
government now take sixteen years
were eighteen years
and six of those years are not paid for by the government
so what happens
parents get tapped out and then when they're complete et tout the kids get
surging tapped out student at
idk records being promoted you know first
first people wanted to credit card debt to pay for their kids to go to college
the the boomer generation
or the kids themselves
you a credit card debt if there was a home involved they they would mortgage
the home and now
all that's gone out student at
student launder
before the these so-called reagan revolution we actually had positive
savings the ever say beans rate for americans before the reagan presidency
was around ten percent
has highs eleven percent said
now it's negative it's zero
boser
sewed debt is strangling our economy
the cost of health care has gone up dramatically
the cost of education has gone up dramatically
and meanwhile
last friday
you know every now and then there's somebody in the senate you think that
person kind of demeans the senate itself by simply being in there like you know
how did this guy get in the senate
senator ted crews of texas
should be ten cruise print the cc crazy
to eat for cheaper anyway but equally senator from texas
he said we need to complete privatize federal student loans
so you or your money to the bank the bank and charge whatever they want their
was no more low interest rate
loans for students
some islamic some serious money student loans well they they had not but they
haven't done already
and his republican plan is going through an intergenerational young people ans
so isn't on we started acting like the rest of the developed world
is the time that we provide if for free higher education here
and it's not about time that we started saying
we have a trillion dollars for the student loan debt right now it's worse
than credit there's more stable under two there is credit card debt united
states
this was not the case before reaganomics
student loan debt was negligible
priscilla de luna de to go to college before the reagan presidency were people
who are getting graduate degrees
with a new theory of exceptionally high
delivering medical doctors turning
but not everyone
is a time for us to say it's time to play urgently with style to wipe out the
street
and to save from this point going forward
and education isn't right
quoting help
places the commons argument
uh... conservatives definitely disagree
we'll be back
fifteen minutes past