America is failing to compete not only with Chinese workers in sweatshops but also with German workers leading pretty good lives.
The LA Times’ Don Lee examines how a German couple with a combined income of $40,000 has a “higher standard of living than Americans who have twice that income.”
Volkmar, a foreman at a glass factory, and Vera Kruger, a part-time worker at a company that tracks inventories, enjoy job security, good social services and six weeks of vacation a year.
In part their good fortune is due to personal habits. The Krugers like most Germans are frugal and avoided taking on the debt that crushed America’s middle class.
They also benefit from a good economy. Germany’s low unemployment rate provides job security, while low inflation preserves their buying power.
Finally the German government can afford extensive social services and subsidies, which allowed them to send a son to university for only $260 per semester. A recent surgery with 10 days in hospital cost only $13 per day.
Read more at the LA Times : “Germany has the economic strengths America once boasted“
See also: Why Apple Makes iPhones In China And Why The US Is Screwed >