March 4, 2005
by Reb Yudel
Important series from the Los Angeles Times
Los Angeles Times reporter Peter G. Gosselin has spent the last year examining an American paradox: Why so many families report being financially less secure even as the nation has grown more prosperous.TrackBack
The answer lies in a quarter-century-long shift of economic risks from the broad shoulders of business and government to the backs of working families.
Safety nets that once protected Americans from economic turbulence — safeguards like unemployment compensation and employer loyalty — have eroded or vanished. Familes are more vulnerable to sudden shifts in the economy than any time since the Great Depression.
The result is a daunting "New Deal" for many working Americans — one that compels them to cope, largely on their own, with financial forces far beyond their control.