The U.S. is facing a fiscal cliff where there are huge federal debts, an end to tax breaks, and expiration of spending caps. All of this could result in the debt being even higher. This could lead to higher borrowing costs,, higher taxes, a recession, and living standards decreasing for many. Stand Together recommends both parties work together to eliminate programs that are wasteful and stop relying on short-term fixes. This is concerning to me. My family is already struggling. I keep thinking how Trump keeps saying the economy is better, but it's not and its hurting middle class families. https://standtogether.org/stories/the-economy/america-is-headed-for-a-fiscal-cliff-in-2025-how-to-stop-it?utm_source=google&utm_medium=cpc&utm_campaign=STTOTGR_IN_2025_PRG-PUB_GOOGLE_50SCROLL_STBP-STMAIN-NB-BROAD&utm_content=ARTL_EPICLAUNCH-826229_V1_TXT&utm_term=economic%20growth&gad_source=1&gad_campaignid=22751714065&gbraid=0AAAAAo3bCM6ZZV2p1IIMzwzMM_oDZYXm8&gclid=CjwKCAiA86_JBhAIEiwA4i9Ju9zJ6sF87dSM1idJSQJCMuV2y7LvSJjh33wDU9pL1i8JWU8rV0Sj2hoCkJIQAvD_BwE
This is especially interesting as many economists have been saying that we are in a "K" shaped economy where the current economy is favoring the ultra-wealthy while the middle and lower classes continue to struggle. With companies spending more and more on AI, I don't see how our debt problem will be easily fixed. I hope going forward that the current administration will do what they can to make it easier for families in the middle class to succeed.
ReplyDeleteI agree that we are relying on short-term shifts- and it's not working. When I think of how to improve middle and lower class's standard of living, the first thing that comes to mind is enhancing education and accessible healthcare. AI improves productivity, and I believe new jobs will be created to accommodate for these changes. At the Economic Conference, a presenter said that if you don't use AI in your work, then you'll be replaced- but if you learn how to enchase you work with AI, then you'll stay employed. So, my question is, how are the middle and lower classes going to learn (become educated) on how to use AI?
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