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10 Facts About The Financial Condition Of American Families That Will Blow Your Mind

Submitted by Tjadendevries on Tue, 07/26/2011 - 4:20pm

Related: #fuckyouwashington, and Capt. Obama, USS Titanic, Tosses Older Women Overboard First, and Republican Hypocrisy on the Deficit, and Obama and Social Security: NewDealDemocrat Tees Off

    The crumbling U.S. economy is putting an extraordinary amount of financial stress on American families. For many Americans, "flat broke" has become a permanent condition. Today, over half of all American families live paycheck to paycheck. Unemployment is rampant and those that do actually have jobs are finding that their wages are rising much more slowly than prices are. The financial condition of average American families continues to decline and this is showing up in all of the recent surveys. For example, according to a new Gallup poll, "lack of money/low wages" is the number one financial concern for American families.

    To make ends meet, many American families are going into even more debt and more American families than ever are turning to government assistance. Right now, more Americans than at any other point since World War II are flat broke and have lost hope. Until this changes, the frustration level in this country is going to continue to grow.

    The following are 10 facts about the financial condition of American families that will blow your mind.....

      #1 Only 58 percent of Americans have a job right now.

      #2 Only 56 percent of Americans are currently covered by employer-provided health insurance.

      #3 The median yearly wage in the United States is $26,261.

      #4 The average American household is carrying $75,600 in debt.

      #5 Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975.

      #6 At this point, American families are approximately 7.7 trillion dollars poorer than they were back in early 2007.

      #7 The poorest 50% of all Americans now own just 2.5% of all the wealth in the United States.

      #8 According to one study, approximately 21 percent of all children in the United States were living below the poverty line in 2010.

      #9 Today, there are more than 44 million Americans on food stamps, and nearly half of them are children.

      #10 According to Newsweek, close to 20 percent of all American men between the ages of 25 and 54 do not have a job at the moment.

    So what is causing all of this?

    Where in the world did all of the good jobs go?

    Well, the truth is that millions of them have been shipped overseas.

    Our politicians promised us that merging our economy with the economies of other nations where it is legal to pay slave labor wages to workers would not create more unemployment inside America.

    [...]

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