How will your children’s lives be different from yours? - Jack Cafferty's 5pm question [View All]

http://caffertyfile.blogs.cnn.com/

How will your children’s lives be different from yours?
Posted: 11:36 AM ET


FROM CNN’s Jack Cafferty:

The American Dream may be slipping away. Examples are everywhere. One comes from CNNMoney.com, which reports how the life of autoworkers is changing.

It used to be that getting a union job on the production line of a big car company would instantly vault someone into the middle class, even if they didn’t have much formal education. But those days are gone.

With Chrysler declaring bankruptcy, and General Motors expected to follow soon, the government is demanding these companies bring their labor costs in line with foreign competitors. That means an entry-level autoworker who used to make $28 an hour could soon be making $14 an hour.

Workers’ benefits are also taking a hit. Union employees will have to pay a much larger share of their health care expenses. And when they retire, the company won’t be paying for their health care anymore. Also, going forward, fewer medical procedures and drugs will be covered.

The story of the American autoworker is just a slice of what’s happening across the country. It seems increasingly likely millions of people won’t be able to maintain the standard of living they’ve grown accustomed to, not to mention what’s around the corner for the next generation.

A recent poll found more than a third of parents think their children’s standard of living will be worse than theirs is now.

Here’s my question to you: How will your children’s lives be different from yours?

Tune in to the Situation Room at 5 p.m. to see if Jack reads your answer on air.