Many Middle-Class Americans Are Living Paycheck to Paycheck – The Atlantic
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I went to college; got a graduate degree; taught for a while; got a book contract; moved to a small, inexpensive, rent-controlled apartment in Little Italy to write; got married; and bumped along until I landed a job on television (those of you with elephant memories may remember that for three years, I was one of the replacements for Gene Siskel and Roger Ebert on the PBS movie-review show Sneak Previews). Then my wife and I bought a small co‑op apartment in Brooklyn, which we could afford, and had our two daughters. My wife continued to work, and we managed to scrape by, though child care and then private schools crimped our finances. No, we didn’t have to send our girls to private schools. We could have sent them to the public school in our neighborhood, except that it wasn’t very good, and we resolved to sacrifice our own comforts to give our daughters theirs. Some economists attribute the need for credit and the drive to spend with the “keeping up with the Joneses” syndrome, which is so prevalent in America. I never wanted to keep up with the Joneses. But, like many Americans, I wanted my children to keep up with the Joneses’ children, because I knew how easily my girls could be marginalized in a society where nearly all the rewards go to a small, well-educated elite. (All right, I wanted them to be winners.)
Still, we moved to the tip of Long Island, in East Hampton, where we wouldn’t have to pay that exorbitant private-school tuition and where my wife could eventually quit her job as a film executive to be with the children, the loss of her income offset a little by not having to pay for child care. (When people look at me admiringly after I tell them I live in the Hamptons, I always add, “We live there full-time like the poor people, not only in the summer like the rich people.”) We rented a house and made a go of it. After Martin Scorsese bought the movie rights to my biography of the gossip columnist Walter Winchell, we even managed to put together a down payment to buy the house we’d been renting.
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http://www.theatlantic.com/magazine/archive/2016/05/my-secret-shame/476415/