Oct 28, 2012

The True State of the Economy?

1. One recent survey discovered that 40 percent of all Americans have $500
 or less in savings. 

2. A different recent survey found that 28 percent of all Americans do not
have a single penny saved for emergencies.

3. In the United States today, there are close to 10 million households
that do not have a single bank account. That number has increased by about a
million since 2009.

4. Family homelessness in the Washington D.C. region (one of the wealthiest
regions in the entire country) has risen 23 percent since the last recession began.

5. The number of Americans living in poverty has increased by about 6 million
over the past four years.

6. Median household income has fallen for four years in a row.
Overall, it has declined by more than $4000 over the past four years.

7. 62 percent of middle class Americans say that they have had to
reduce household spending over the past year.

8. According to a survey conducted by the Pew Research Center, 85 percent of
middle class Americans say that it is more difficult to maintain a middle class
standard of living today than it was 10 years ago.

9. In the United States today, 77 percent of all Americans are living to paycheck
to paycheck at least some of the time.

10. In the United States today, more than 41 percent of all working age Americans
are not working.

11. Since January 2009, the "labor force" in the United States has increased by
827,000, but "those not in the labor force" has increased by 8,208,000. This is how
they have gotten the unemployment numbers to "come down".

12. Sadly, 60 percent of the jobs lost during the last recession were mid-wage jobs,
but 58 percent of the jobs created since then have been low wage jobs.

13. Today, about one out of every four workers in the United States brings home
wages that are at or below the federal poverty level.

14. Right now, the United States actually has a higher percentage of workers doing
low wage work than any other major industrialized nation does.

15. At this point, less than 25 percent of all jobs in the United States are "good jobs",
and that number continues to shrink.

16. There are now 20.2 million Americans that spend more than half of their incomes
on housing. That represents a 46 percent increase from 2001.

17. According to USA Today, many Americans have actually seen their water bills
triple over the past 12 years.

18. Electricity bills in the United States have risen faster than the overall rate of inflation
 for five years in a row.

19. In 1999, 64.1 percent of all Americans were covered by employment-based
health insurance. Today, only 55.1 percent are covered by employment-based
health insurance.

20. Health insurance premiums rose faster than the overall rate of inflation in 2011
and that is happening once again in 2012. In fact, it has been happening for a very
long time.

21. According to one recent survey, approximately 10 percent of all employers in
the United States plan to drop health coverage when key provisions of the new
health care law kick in less than two years from now.

22. Back in 1983, the bottom 95 percent of all income earners had 62 cents of debt
for every dollar that they earned. By 2007, that figure had soared to $1.48.

23. Total home mortgage debt in the United States is now about 5 times larger than
it was just 20 years ago.

24. Total consumer debt in the United States has risen by 1700 percent since 1971.

25. Recently it was announced that total student loan debt in the United States has
passed the one trillion dollar mark.

26. According to one recent survey, approximately one-third of all Americans are not
paying their bills on time at this point.

27. Right now, approximately 25 million American adults are living at home with their

28. The percentage of Americans that find that they are able to retire when they reach
retirement age continues to decline. According to one new survey, 70 percent of middle
class Americans plan to work during retirement and 30 percent plan to work until they
are at least 80 years old.

29. The U.S. economy lost more than 220,000 small businesses during the recent

30. In 2010, the number of jobs created at new businesses in the United States was
less than half of what it was back in the year 2000.

31. Back in 2007, 19.2 percent of all American families had a net worth of zero or less
 than zero. By 2010, that figure had soared to 32.5 percent.

32. Approximately 57 percent of all children in the United States are living in homes
that are either considered to be either "low income" or impoverished.

33. In the United States today, somewhere around 100 million Americans are considered
to be either "poor" or "near poor".

34. In October 2008, 30.8 million Americans were on food stamps. Today, 46.7 million
Americans are on food stamps.

35. Approximately one-fourth of all children in the United States are enrolled in the food
stamp program.

36. Right now, more than 100 million Americans are enrolled in at least one welfare
program run by the federal government. And that does not even count Social Security
or Medicare.

37. According to the U.S. Census Bureau, an all-time record 49 percent of all Americans
live in a home where at least one person receives financial assistance from the
federal government. Back in 1983, that number was less than 30 percent.

The Political Commentator (http://s.tt/1r9Kl)

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