January 3, 2013

Average Household Left With Only $100 After Monthly Expenses



According to findings from the Center for Responsible Lending’s newest report, The State of Lending in America and Its Impact on U.S. Households (State of Lending), the typical household has just $100 left each month after paying for basic expenses and debt payments. After controlling for inflation, the typical household had less annual income at the end of 2010 than it did at the beginning of the decade.. Moreover, as worker productivity increased, the workplace has seldom rewarded them with higher pay.

Even in households with two wage-earners, the amount of disposable or discretionary income after paying monthly expenses was less in 2010 than it was in 2000. The combined effect of stagnant wages along with unemployment and under-employment is forcing families to curb spending and use any available assets to keep pace financially. Families with no savings or assets incurred new debt.

3 comments:

Anonymous said...

an annual average increase of about $1,000 due to the expiration of the payroll tax reduction will pretty much eat up the rest of that spare $100.
Barry Obama, the more effective evil--arrests the fall over the cliff by catching the working class with a knife in the back.
and on it continues...

Anonymous said...

The payroll tax reduction was called a "holiday" from the beginning. Holidays come to an end at least mine always do.

How can it be that American business is enjoying record profits and executive compensation is in the stratosphere and the American worker has less to show than they did a decade ago? Time for American business to share the fruits of our labor.

Let's blame Obama is a tired worn out refrain. Obama is a poor negotiator I'll give you that. The Fiscal Cliff was a hyped illusion. The only thing that will bring this economy back is decent paying jobs. Jobs stop unemployment payments. Working folk don't need food stamps if they are paid a decent wage. Tax revenues rise with employment and wages. The "massive" DOD cuts essentially freeze the budget at 2007 levels even then the US will still be an exporter of weapons and we will still be spending 5 times more on our military than the next 17 industrialized nations combined.

Alvin Christ said...

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