Attack on the Middle Class

Lou Dobbs had another good segment tonight, about how the economy and particularly the spike in energy costs are affecting Americans where it hurts most: their wallets. He rattled off three ominous-sounding statistics...

1. Late credit card payments reached an all-time high in the 2nd quarter;
2. Late mortgage payments also reached an all-time high in the 2nd quarter; and
3. Consumer confidence is at its lowest point in 15 years.

Add to this the fact that the Treasury Dept is considering raising the minimum required payments for credit cards on top of the soaring energy prices and you've got a sort of "perfect storm" that's crippling the middle class financially.

Lou also interviewed Sen. David Vitter about the LA request for $250 billion in reconstruction appropriations, and he nailed the Senator for his view that it's a-okay to repeal Davis-Bacon. Lou said something to the effect of "You want $250 billion in public funds and you're STILL not going to pay people the prevailing wage?!?"