24.9 percent of American ...

24.9 percent of American children live in poverty, while the proportions in Germany, France and Italy are 8.6, 7.4 and 10.5 percent. And once born on the wrong side of the tracks, Americans are more likely to stay there than their counterparts in Europe. Those born to better-off families are more likely to stay better off. America is developing an aristocracy of the rich and a serfdom of the poor - the inevitable result of a twenty-year erosion of its social contract.
 Will Hutton

Quotes from the same author

Investment is not only volatile, it is the key motor of the economy's prosperity because it has a snowball effect.
 Will Hutton