There’s a new normal in the American economy for vast slices of society and it’s discouragingly tough, despite all the cheerleading from the White House and economists that the country is in a slow but steady recovery. If anything, the new American economy has undergone a structural shift where far too many jobs are not paying enough to cover basic living expenses and money worries are simmering and never-ending.

“It’s difficult to point fingers at people and say, 'You screwed up in some way' or 'You aren’t working hard enough,’” said Erica Seifert, a senior associate at Greenberg Quinlan Rosner Research, which recently conducted a series of focus groups in Florida and Ohio among young college women, Latino voters and white working-class voters. “This economy isn’t functional. The jobs don’t pay.”

Siefert’s firm convened groups of likely voters to hear detailed remarks about how they and their familes were faring economically. What they found was that previously given explanations for economic hard times, such as saying, "It’s the recession," were replaced by comments that suggested that America is now beset with “institutional inequality.”

“In the past, we would talk to people and the recession was the obstacle,” she said. “Now we have people with educational degrees who can’t make enough money to pay their loans back and meet their expenses. It’s not that those people make poor choices.”

What follows are eight tenets of the new economy, according to her firm’s research. The quotes are from participants—some were teachers, bank clerks, truck drivers, massage therapists, social workers, working mothers, etc. Some had higher education degrees, while others were only high school graduates.

1. It’s not my economic recovery.

News about the rising stock market, increase in home values or tech sector boom—all staples of mainsteam media content—does not describe their world. The women aged 30 and younger and Latino voters in the Orlando area, and working-class men and women of all ages near Columbus, Ohio, said in many different ways that their personal finances were rocky and frail.

One was “afraid of losing my house.” Another said, “Back six years ago, I was making double the income I’m making now.” One said, “I think the best way to describe my finances is precarious.” Another said, “Me personally, not so good; my household is getting by.” One said, “I own my own home and don’t see the home values going up. I see the neighborhood selling quickly, but what are they selling for?” Another said, “Two steps forward, four steps back.”

2. The mood is fear, not hope.

Many people are living on an economic “edge where fear, worry and caution are pervasive,” the researchers found. “I can’t afford to lose right now,” one person said. “I’m being conservative… It’s starting to balance out a bit, but we never know. It’s a rollercoaster,” another said. “It’s pretty scary,” one said. “Afraid,” said another. “Most of my family and friends are, they’re making ends meet but they’re struggling… They’ve got financial, you know, worry in the back of their minds. You know, if something happens, what am I going to do?”

3. Self-sacrifice is now routine.

The personal strategies for getting by include routinely cutting corners, pooling resources and not just having underemployed young people move in with their parents, but people taking in their parents after their jobs disappeared.

“Cutting back on unnecessary items and home and just [living] paycheck to paycheck” was how one participant put it. “Looking for sales, pinching pennies,” another said. “I moved my mom in with me last month. I am curently supporting my mom; her factory shut down and she was on unemployment,” a young woman said. “After we pay our bills we make sure that our children eat, but there’s times my husband and I can’t afford it,” another said, saying, “We eat peanut butter, potatoes or rice. We make sure our children are eating four food groups a day.”

4. Lower and lower expectations.

To continue reading:http://www.alternet.org/economy/8-stark-realities-americas-dysfunct...