How the Government Intends to Help the Middle Class

obamaYou might want to listen to Obama's State of the Union address on Wednesday if you, like the majority of the country, are a member of the middle class and having a hard time making ends meet. On Monday, President Obama announced that he will be introducing a number of plans and policies that will help "rebuild the middle class."

In remarks made by Vice President Joe Biden to an Obama administration tax force charged with helping the middle class, Biden said, "...as we move from recession to recovery, our focus is the middle class. Today, living a quality middle class life starts, as it always has, with a good-paying job. And by job, we're not talking about merely a paycheck; it's more than a paycheck. And we're talking about dignity, we're talking about security. We're talking about knowing your pension is safe, your health insurance is reliable, your elderly parents and your children are going to be cared for, your neighborhood is safe, there's decent schools, and that your kids are going to be able to grow up and if they desire and you desire, be able to attend college. It's the old-fashioned notion of American Dream. I mean, it sounds corny, but that's literally what it is."

What they'll be asking of congress:

--Expansion of the child tax credit, nearly doubling the credit for middle class families with incomes up to $85,000 and increase the credit for nearly every family making under $115,000.

--Increase in funding for child care, intended to help "working parents who are struggling to lift their families into the middle class."

--Increased elder care support, including counseling, training, help with transportation, and temporary respite care when caregivers need to go to work or take a break.

--Strengthening the income-based repayment program for student loans, ensuring that Federal Student Loan payments for overburdened borrowers are never more than 10 percent of their income.

--Strengthening retirement security by enabling employers who do not currently offer retirement plans to enroll their employees in direct deposit IRAs.

--Simplifying and expanding the saver's credit, which helps working families save for retirement by providing a 50 percent match on the first $1,000 of retirement savings.

Biden explained that last one by saying, "If you put a thousand bucks into a retirement account, your government is going to add even more -- another $500. It's an incentive, but long term it saves the government a lot more money than the 500 hundred bucks put in if in fact we find we have a generation that's able to care for themselves and not have to look to the government to provide some basic needs."

"Taken together," Biden explained, "these and other middle class proposals we believe will go a long way toward easing the strain on working families, allowing them to save more today to get further ahead tomorrow."

Obama's State of the Union speech is also expected to address the nation's worsening unemployment situation. "More than 7 million (jobs) have been lost as a consequence of this recession –- an epidemic that demands our relentless and sustained response," Obama said Monday. "Now, last month the House passed a new jobs bill. The Senate, as we speak, is hard at work developing its own job creation package. Creating good, sustainable jobs is the single most important thing we can do to rebuild the middle class -– and I won't rest until we're doing just that."

Hopefully President Obama will be able to get a good night's sleep in the not too distant future.

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C

WHEN does the Prez intend to address the living conditions of the Retired/Disabled people in this country. Social Security payments received are so far below the poverty level that many are hungry and unable to afford co-payments and necessary meds. It is an insult to the people who worked hard at physical demanding jobs and were led to believe social security was their guaranteed retirement. Working in those days the only compensation was wages.

April 06 2010 at 8:07 AM Report abuse rate up rate down Reply
chenelle

What they need to do is get read of the people who is supposed to speak for the midel class and let us speak for our self because every one up there is just keeping all the all the money for them self...Why should they be able to live in two or three story houses or have more than one house, when the people they stand for live in crappy apartment and in the streets with nooo JOBS why should they have bran new cars when we are walking in the heat or the rain because the busses cost too much for any one to take any more...Its getting really bad out here and it seems like they don’t care as long as they have a place to sleep at night but if we were to have them live like us for one week they see and agree how we feel...They wonder why the crime right is so high now days its because there is no money coming in or going out how are people to take care of there family’s...it's really bad when the kids and teens ages 12 to 16 know how bad times really are now and they cant do nothing but dream of fixing the mess that was created in the last years. They need to do something to help us something BIG and fast be for it gets worst.

January 27 2010 at 12:53 PM Report abuse rate up rate down Reply
amanda

hey obama you want to help the middle class make ends meet with there bills get the economy better and get people there jobs back and what u should be doing and all the millionaires who have tons of money should be helping the poor people who live in crap literally and give them money to be able to move to another state and start there life over and not having poor women have babies and then have to wash them in a river filled with crap what the millionaires should do is help the poor and stop spending there money on a huge house that there never in and 10 cars that there never gonna ever drive its so stupid they make me sick if i had the money i would help the poor people but i dont have a job because i just had a baby less than 2 months ago and not only is places to rent out standingly exspensive but so is gas and with everyone getting laid off from there jobs like my boyfriend its ruff right now for everyone even the middle class who is used to being comfortable with where they are now there struggling and people who were good with money and in the middle class are now losing there houses to the banks because they cant afford to pay the bills because there are no jobs but the prices of everything is jacked up so high even the millionaires are complaining somebody needs to do something before this united states goes to shit and everyones poor

January 26 2010 at 11:04 PM Report abuse rate up rate down Reply
Suzq

If Obama really wants to help the middle class he should take a long hard look at the I.R.S. Those blood sucking leeches squeeze every dime they can out of hard working Americans. Meanwhile the rich are protected by tax shelters and corporations. What of the billions of dollars that change hands every day on the streets of any inner city. Drug dealing and whore's are EXEMPT from being taxed because it's ALL cash. Makes me sick. The government should start going after that money.

January 26 2010 at 9:26 PM Report abuse rate up rate down Reply
Alan Wing

Right Who are they kidding? I'm fed up with all of them. Until we take controll of imports it willl never change.

Too much greed going on in both big business and government.

January 26 2010 at 4:46 PM Report abuse rate up rate down Reply

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