Obama’s new economy: Hundreds of thousands of PhDs, masters graduates now on food stamps, some work as janitors
by: J. D. Heyes
Saturday, January 19, 2013
Once upon a time in America, employment prospects and the chance to become much more successful in life were far better for those who had put forth the extra effort required to obtain higher levels of education. But in today’s economy, where the new normal is anemic annual growth rates of one to two percent – rates that cannot lower overall unemployment but which President Obama has nonetheless tried to pass off as “moving in the right direction” – a higher level of education is no longer a guarantee of future accomplishment.
In fact, even some people who have earned PhD’s are either unemployed or pathetically under-employed, which is pretty sad for the world’s number one economic power.
“When job hunting in one’s field turns rough,” says a graphic developed by OnlineColleges.net, “college graduates may return to school for another degree. But for some Americans, multiple degrees won’t guarantee a job in their field – or even keep them above the poverty level.”
5,000 janitors with PhD’s