Joe Biden wants to form a stronger middle class in USA

A White House slogan echoes these sentiments about a strong middle class equating to a strong America. It reads, “A Strong Middle-Class = A Strong America.”

Recently Joe Biden the Vice President speaking at the Brookings Institution on the positon of the stimulus programme referred to many similar instances of the American Reinvestment and Recovery Act beginning to benefit the national economy – especially the middle-class Americans.

The positive points he raised are worthy of cheer. However the reality is that millions belonging to this middle-class are still at risk from losing their houses. The problem has to be placed in its proper perspective, and then a search has to be made to find out why the current programs are not properly working. Finally a solution has to be put forth that could easily be implemented for the betterment of not only the middle-class but also the entire nation.

Recently the view has been gaining ground that the recession has been receding. While this is good news but what everyone is keen about is the ending of foreclosure numbers. It is not something that is happening in isolation but has devastating rippling effect on the economy as a whole – hence the urgency of solving the problem speedily.

The latest report from RealtyTrac notes that foreclosure postings have been rapidly increasing. CNN Money currently noted that from June to July of 2009 the numbers increased by 179,599 – calculating to 9% in a single month. From June 2006 the rate of foreclosure has shot up by 93%.

Curently 15 million Americans are without jobs and the number is apprehended to spike. By the close of the current year 1.3 million citizens are poised to lose their benefits from unemployment. Thousands are at risk from losing their houses unless a steps are immediately taken. Of all the mortgages 12% are delinquent. RealtyTrac noted that in July this year 360,149 estates were in some stage of foreclosure.

It indicates and spike by 32% from July of the previous year. This report also indicates that in July out of 355 houses in the country one received foreclosure notice. James J. Saccio of RealtyTrac said, “July marks the third time in the last five months where we’ve seen a new record set for foreclosure activity.”

From Biden’s speech it was clear that the grave problem is not getting due attention from the Obama government. For instance the payroll tax cuts has done little to stop unemployed houseowners from losing their homes. It is helping only those who continue to be employed. To be effective unemployed house owners should be brought under its umbrella.

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