Sobering New Evidence: at Least Half of Americans are Broke

In these times of record corporate profits, there is a record number of poor in the US of A!

"Happy Monday! S&P 500 now up 10% for year" —CNN Money
"Third-quarter U.S. economic growth strongest in 11 years" —Reuters
"The U.S. economy is on a tear" —Wall Street Journal

Half of our nation, by all reasonable estimates of human need, is in poverty. The jubilant headlines above speak for people whose view is distorted by growing financial wealth. The argument for a barely surviving half of America has been made before, but important new data is available to strengthen the case.

5. Our Greatest Shame: Half of the Children Feeling Poverty Over half of public school students are poor enough to qualify for lunch subsidies. There's been a stunning 70 percent increase since the recession in the number of children on food stamps. State of Working America reported that almost half of black children under the age of six are living in poverty.

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a reply to: AlaskanDad

This is entirely true, there are dwindling jobs from dwindling companies.

The cronyism has been supercharged under this administration.

All of the negative indicators are up.

The Big Lie: 5.6% Unemployment

Number of Corporations in U.S. Hit Lowest Level Seen in 40 Years

Breaks my heart to hear that so many families and kids are going through this hard time,i truly wish for a better tommorow.

We're $18,000,000,000,000.00 in Debt, as a nation....$20 TRILLION in another year or two. Who is really surprised?
I don't hate Obama...but, I DO blame him.

a reply to: IAMTAT

And if we count all of the liabilities it is more like $200 trillion.

It will not be possible for that debt to be paid.

Howdy,

I'm just waiting for the thundering herd of "it's all their own fault" talking heads to arrive.

It's a terrible state of affairs and largely set in motion by those who benefit from these regular bust cycles since the early eighties where good jobs disappear never to return, people then use all their savings to survive, lose everything and start over lower then then started from the first time. Over and over.

I'm reminded of that engineer who flew a small plane into a building in Texas and his manifesto about how he'd started over and over, getting a degree of success then circumstances beyond his control took it all away. It was just one too many restarts for this poor fellow.

Savings of average people can disapear overnight in a Savings and Loan crash, or a housing crash, or a lost job, or a servious illness. But repeatedly we're told that it is the fault of those suffering and not those making money off the misery of everyday people.

If I hear one more person say, "It didn't happen to me. They were stupid or they made poor decisions. Yadda, yadda, yadda", I think my head will explode. It happens to people who get and take advise from "professionals" in the finance, banking, housing, etc fields that make money on selling snake oil.

originally posted by: IAMTAT
We're $18,000,000,000,000.00 in Debt, as a nation....$20 TRILLION in another year or two. Who is really surprised?
I don't hate Obama...but, I DO blame him.

Whoa Whoa..what ever happened to personal responsibility the right loves to point out.

When it is minorities complaining about being broke and poor..the right loves to say..who is to blame but yourself...now it's other Americans are also broke..Blame Obama?

How the hell do you guys not see your contradictions..

a reply to: Onslaught2996

Yes, whatever happened to it? Our government hasn't practiced it since they abolished the gold standard and real currency. If they can't learn to live within their means ... what hope do we have for anyone else to follow suit?

When People borrow money to buy houses and cars and educations that are 500% to 1000% overpriced, what would anybody expect?

Debt based economies always stay broke.

Personal responsibility, my is that just a cute way to say I don't give a crap about anybody else?

Edit: We are being put through one of the worse economy the poor of this country has ever seen and you dare talk about personal responsibilities. If we end corruption in Wall Street and put an end to lobbying we would have solved the problem we are seeing with our economy.

a reply to: Onslaught2996

Everyone has someone else to blame - thats the easy, predictable part.

But you have to understand our society is built a certain way, and in turn, "we" built and are all a part of a vicious cycle.

The most complicated aspect of our nearly broken society, and completely broke 165 million people, is breaking the cycle.

originally posted by: AlaskanDad
Personal responsibility, my is that just a cute way to say I don't give a # about anybody else?

I don't know...it is the right's usual cry when others complain about being broke.

Ask them..

I wonder how many have critical thinking skills instead of OBS?

What pattern do you see???



en.wikipedia.org...

a reply to: Onslaught2996

Both parties are professional politicians representing the corporate powers, but some Americans see this as a simple as a left or right situation and they are willing to fight anyone that says otherwise!

Divide and conquer!

a reply to: DMFL1133

There's no pattern. You see debt from world war 2, gains from post-war economy, and slow-down after we stopped being the dominant oil supplier. You also see the result of the housing crisis and global depression.

I know you really wanted to make it seem like republicans were the bad guys here, but it's not shown in that graph. Do I have to point out each discrepancy for such a belief?

originally posted by: AlaskanDad
Personal responsibility, my is that just a cute way to say I don't give a crap about anybody else?

Edit: We are being put through one of the worse economy the poor of this country has ever seen and you dare talk about personal responsibilities. If we end corruption in Wall Street and put an end to lobbying we would have solved the problem we are seeing with our economy.

Oh come on now you cannot blame the rich for hoarding their wealth and keeping it in the family,it is quite clearly the poor peoples fault for not being born into the right families and of course do not forget lazy and stupid plays a part.....(sarcasm off)

In answer to your question....yes...money divides people and gives them reason to not give a crap...

It is really sad that in a first world country like the U.S that there are so many poor people,it really just shows how the money system we have have in place grows greed as its number 1 priority

originally posted by: pl3bscheese
a reply to: DMFL1133

I laughed.

You assume to much.

I detest both parties.

Sure point out everything.

a reply to: DMFL1133

Okay cool, well I incorrectly assumed based on experience with ATS in general. My bad, though I am curious, which pattern were you referring to?

No need to point them out, it's pretty clear both parties are bound by the reality of their objective situation. It's also worth nothing that the 4-8 year swings tend to bring baggage to the next candidate which often is not felt in full until the next cycle.

Our economy is run on energy, physical, and mental. We're doing okay in the energy department, but are no longer the towering dominant force. Not sure why people have to make it a bit more than it really is.

a reply to: AlaskanDad

Don't forget public employees' unions. To whom do you think we owe so much in unfunded liabilities.

I tell you the truth - when the governmental economic house of cards collapse, even those of us who aren't quite broke will be quite thoroughly broke, and don't think you'll be able to count on SS, Medicare or any other social welfare program.

a reply to: DMFL1133

You also need to take into account which party controlled Congress, too. The President can propose a budget, but Congress controls the purse strings.