George Sontag
In 2015 the middle class continued to deteriorate and more Americans than ever found themselves living in poverty, living paycheck to paycheck while getting further into debt. In addition, every leading indicator that you can think of is saying that the U.S. is heading into another recession. Don’t be fooled by all the happy talk coming from this administration and the mainstream media. When you look at the cold, hard numbers, they tell a completely different story.
THE FACTS
- 62 percent of all Americans have less than 1,000 dollars in their savings accounts, and 21 percent of all Americans do not have a savings account at all. The U.S. now only ranks 19th in the world when it comes to median wealth per adult.
- It has been estimated that 43 percent of all American households spend more money than they make each month and the average U.S. household that has at least one credit card has approximately $15,950 in credit card debt. There are 1.5 million “ultra-poor” households in the United States that live on less than two dollars a day. That number has doubled since 1996.
- According to the Pew Research Center, the median income of middle class households declined by 4 percent from 2000 to 2014 and that median wealth for middle class households dropped by an astounding 28 percent between 2001 and 2013.
- 51 percent of all American workers make less than $30,000 a year. The number of Americans that are living in concentrated areas of high poverty has doubled since the year 2000.
- According to a Census Bureau report, 65 percent of all children in the U.S. are living in a home that receives some form of aid from the federal government.
- There are still 900,000 fewer middle class jobs in America than there were when the last recession began.
- There are 7.9 million working age Americans that are “officially unemployed” right now and another 94.4 million working age Americans that are considered to be “not in the labor force”. When you add those two numbers together, you get a grand total of 102.3 million working age Americans that do not have a job right now. If the U.S. government was actually using honest numbers the unemployment rate in this nation would be 22.9 percent.
- The velocity of money in the United States has dropped to the lowest level ever recorded. Not even during the depths of the last recession was it ever this low. We are in the midst of a long-term economic collapse that is beginning to accelerate once again.
- This administration promised that the Healthcare Act would result in a decline in health insurance premiums by as much as $2,500 per family, but in reality average family premiums have increased by a total of $4,865 since 2008. Approximately 41 percent of all working age Americans either currently have medical bill problems or are paying off medical debt.
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