President Obama's Middle Class Task Force

The Obama Administration has begun working on several different initiatives to help get the country back on its feet due to the lack of effective leadership of the previous administration. My interest has been peaked by one of the administration's initiatives - the middle class task force that will be led by Vice President Biden.

The newly formed task force will address problems middle class America is experiencing. Vice President Biden is the chairman of the task force. The president stated "the strength of our economy can be measured by the strength of our middle class" and I agree.

The Vice President and members of the task force including Jared Bernstein who is the Executive Director of the task force will work with several federal agencies that address issues affecting the middle class. The President's goals for the task force are:

1. Expanding education and lifelong training opportunities
2. Improving work and family balance
3. Restoring labor standards, including workplace safety
4. Helping to protect middle-class and working-family incomes
5. Protecting retirement security

The first task force meeting will be held on February 27, 2009 to discuss Green Jobs: A Pathway to a Strong Middle Class.

The Census Bureau states the median income for Americans is $50,000 a year. The Vice President describes the middle class as "any family that can’t afford to miss more than two or three paychecks without financial difficulty".

For more information visit the newly formed task force website AStrongMiddleClass.gov.

How the Federal Minimum Wage Increase Affects You

The Federal Minimum Wage increased on July 24, 2008 to $6.55. This raised the minimum wage by $.70. Approximately 2 million Americans make minimum wage. This results in approximately an additional $5.60 a day, $28 a week and $112 a month for a 5 day work week. An additional increase will occur next year and raise the minimum wage to $7.25 an hour. Twenty-three states including the District of Columbia have a minimum wage higher than the new federal requirement which affects approximately 60% of American worker and are: Alaska, Arizona, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Hawaii, Illinois, Iowa, Maine, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Oregon, Pennsylvania, Rhode Island, Vermont, Washington and West Virginia.

The poor and middle class are greatly affected by the current recession. The minimum wage could not have come at a better time, however it is not enough. Many Americans are struggling just to make end meet and to buy basic necessities and have to use credit cards just to buy food and gas.

The average family is spending approximately $4,655 more on basic necessities such as food, housing and gas. Child care costs have also increased for those with children under age 5 to $1,508 a month and for after-care with older children to $622 a month.

Americans will have to find ways to reduce expenses and make their money stretch further. If you like to eat steak for dinner substitute it for chicken or fish, eat hotdogs and beans for dinner or breakfast food for dinner. Fix tuna casserole or other types of casseroles for dinner to save money on food costs. You can also shop at wholesale stores, buy items or sale, use coupons, carpool to work, shop at thrift stores or discounts stores such as Ross, Marshalls or JC Penny.

The key is to cut expenses in every area you can. You will have to make sacrifices to make ends meet but it is possible. Think of creative ways to save money by reusing items, holding a yard sale or bartering services with others who have businesses. It will take a lot of hard work and discipline to make it through these tough times but if you make it through you will know that you are a survivor. Good luck to you.