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Posts Tagged ‘poverty class’

Falling off the American Dream treadmill – Real median U.S. household income falls under $50,000. Poverty rate has grown exponentially since 2000, during the housing bubble.

January 30, 2011 Comments off

The U.S. Census Bureau recently released troubling data on the status of American families.  The first disturbing point was that 43.6 million Americans now fall under the poverty category.  This works out to 1 out of 7 Americans.  The growth has come from many people falling off the middle class treadmill.  While the echoes of recovery blast through Wall Street the grim reality for most people is that there is a greater and greater divide occurring.  The top 1 percent still has significant control over financial resources and wealth disparity is as high as it was during the 1920s.  While many American families wait in lines outside of Wal-Marts so their food assistance debit cards refill to buy food, those calling a recovery are usually those who have been protected via bailouts since the recession started.

The data on poverty is grim and disturbing:

poverty rate chart

Source:  Census

This data takes into full account the deeper blow of the recession.  The supposed recovery is nowhere Read more…

Middle Class Shrinking; Poverty Class Expanding

January 25, 2011 Comments off
No Jobs, No Hope, No Future: 27 Signs That America’s Poverty Class Is Rapidly Becoming Larger Than America’s Middle Class

In the America that most of us grew up in, most Americans considered themselves to be part of the “upper middle class”, the “middle class” or “the lower middle class”.  Yes, there have always been poor people and homeless people, but they were thought to be a very small sliver of the population.  Well, today all of that is dramatically changing.  America’s emerging “poverty class” is exploding in size at the same time that America’s middle class is rapidly disappearing.  You won’t hear it on the mainstream news, but the truth is that the United States has lost ten percent of its middle class jobs over the past decade.  Only the top 5 percent of income earners in the U.S. has had their incomes increase enough to keep up with the rising cost of living over the past 40 years.  The truth is that today there are a whole lot of people aggressively jostling for the small number of good jobs that are actually available and each year millions more Americans are being squeezed out of the middle class.  The number of Americans that are financially dependent on the U.S. government continues to set new records month after month.  The number of Americans that are participating in the labor force continues to go down.  The sad reality is that the “American Dream” that so many Americans used to take for granted is being ripped away from us.  If you still believe that the United States is guaranteed to always have a very large, very prosperous middle class then you really need to read the statistics listed below.

If you told most Americans ten years ago that in 2011 over 43 million Americans would be on food stamps hardly anyone would have believed you.

But yet here we are.

The U.S. economy simply is not producing enough good jobs anymore.  Most of those that are able to acquire one of these jobs have been able to cling to middle class status, but for millions upon millions of others economic desperation has become “the new normal”.

In fact, more Americans than ever seem to have Read more…