Using data from The Bureau of Labor Statistics, the educational organization AEI released an analysis that shows how over the last 20 years the cost of childcare, healthcare, and college tuition and textbooks have all skyrocketed, faster than the rate of inflation.
Meanwhile things like TVs, phones, and toys have all significantly dropped in price. They're all products, so it stands to reason that advances in technology and competition with overseas manufacturers mean they get better and cheaper over time.
But the things that truly impact our lives like education and medical services can't be made in factories. And competition isn't driving prices down.
According to MarketWatch, American college students and grads are 1.3 trillion dollars in debt- and counting. Experts expect the cost of medical care to continue to rise. We can afford the things we don't need, but not the things we do. Good health, education, and childcare are necessary for a thriving, productive country. What does having the newest phone or the slickest TV do?