5 Facts That Show Half of America Is Seriously Struggling [View all]

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http://www.alternet.org/economy/5-facts-show-half-america-seriously-struggling



1. No Money for Unexpected Bills

A recent Bankrate poll found that almost two-thirds of Americans didn't have savings available to cover a $500 repair bill or a $1,000 emergency room visit.

2. 40 Percent Collapse in Household Wealth

Over half of Americans have good reason to feel poor. Between 2007 and 2013 median wealth dropped a shocking 40 percent, leaving the poorest half with negative wealth (because of debt), and a full 60% of households owning, in total, about as much as the nation's 94 richest individuals.

3. Cost of Living Surges as Income Falls

Official poverty measures are based largely on the food costs of the 1950s. But food costs have doubledsince 1978, housing has more than tripled, and college tuition is eleven times higher. The cost of raising a child increased by 40 percent between 2000 and 2010. And despite the gains from Obamacare, health care expenses continue to grow.

4. Lots of New Jobs (Below Living Wage)

'Amazing' jobs report, apart from wages --Marketwatch

Amazing at the top and at the bottom. According to the Federal Reserve Bank, there have been job gains at the highest paid level -- engineering, finance, computer analysis; and there have been job gains at thelowest paid level -- personal health care, retail, and food preparation.