Below is a guest blog entry by economist and MoJo author Nomi Prins:
The old American Dream is dying. Rampant economic inequality makes the cost of working hard to achieve prohibitive. In a culture where more people vote for the next American Idol than for the next president, no wonder Sarah Palin is the top story: She defines the new American Dream, where leaping to the top against all odds is the end goal in itself. Of course there are voters appalled that someone ‘like her’ can be a ‘heartbeat away from the presidency.’ But there are also plenty of voters delighted that someone ‘like her’ has a shot at the ultimate American Dream—a spot in the White House.
Beneath the Palin hue and cry lie issues that will determine the next American Dream for 99 percent of America.
Those issues include the housing foreclosure and default crisis and the exponential growth in credit card debt. And they include a need to shift the tax burden, health care costs, and retirement risk away from the middle and poorer classes—so that they can afford an American Dream built on dedicated hard work.
That’s why it’s so important we get back to debating the issues, rather than Sarah Palin’s personal life.