January 5, 2019

America's declining economy

 Michael Snyder, Activist Post

The following are a few numbers that prove that we are rapidly becoming a nation of government dependents…
  •     Over half the country now receives more in government transfer payments than they pay in taxes.
  •     According to one recent survey, the cost of living is higher than the median income in 42 U.S. states.
  •     Today, 50 percent of all American workers make less than $30,533 a year.
  •     62 percent of Americans say that their financial situations have not improved since the last presidential election.
And here are six more from my friend Alan Yerushalmi…
  •     According to a FED report, about 40 percent of adults in the U.S. said that if faced with a $400 unexpected expense, they would either not be able to pay it or would do so by selling something or borrowing money
  •     Almost 1 in 3 U.S. households have challenges paying energy bills
  •     About 40% of the American middle class face poverty in retirement
  •     1 in 3 Americans have hardly any retirement savings
  •     Those over 65 have been filing for bankruptcy in droves
  •     Health spending per capita in the U.S. increased nearly 29 fold in the past 40 years, outpacing the growth of the economy
Click on story for sources


Anonymous said...

I'm not sure, but I may be reading this from a very different standpoint than the author of this article. While I still consider myself a Christian and a Patriot (and I served in the military during the Viet Nam era ) I get a sense that readers of a modern "Conservative" bent may read this and think to themselves 'lets get all those bums off the government dole', lets tax the working population just a little bit more and that will save the economic deficit "their" country is in.

Ever since Reagan there has been a Corporate / Government war on labor. Government busts Unions, and Corporations continue to reduce labor costs.
$30,533 / year income? How can we pay so much just for a worker??
Poor people have cell phone? They must be earning too much!

Greg Gerritt said...

Approximately 90% of the growth in income in the USA over the last 20 years has gone to 1% of the population. Almost everyone else is getting poorer. The growth industries int he US, war, healthcare, and education are essentially bankrupting the country. With the banks and Wall st stealing the rest.