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KingCharlemagne

(7,908 posts)

5. My own personal saga may help shed light on this paradox. After a prolonged bout

Fri Mar 13, 2015, 09:35 AM

Mar 2015

of unemployment, during which I ran through most of my savings and retirement savings, I finally found work last month . . . at a 30% pay cut. My fixed expenses (mortgage, food, utiities and so on) take up every last cent of what I now make, leaving me little or no money for discretionary puchases and dreading the inevitable car breakdown or medical emergency (when my ACA Bronze plan will require I pay huge deductibles).

While my situtation may be more severe than many people's, I could swear I've read similar tales here of folks like myself finding a job after a lengthy period of unemployment at a severe paycut.

ETA: I would not qualify for my mortgage currently based on what I am now earning. Got my mortgage back in 2009 when the shit had not yet hit the fan for me and my wife.

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Highlight:

“Consumers Aren’t Spending Even In a Booming Job Market” [View all] marmar Mar 2015 OP

Some of us just don't buy shit we don't need! leftofcool Mar 2015 #1

Some of us can't afford to buy shit we DO need. dixiegrrrrl Mar 2015 #16

Your doctor is basically full of horse shit to blame Obamacare, the ACA, if SheilaT Mar 2015 #33

I guarantee you that the ACA has negatively impacted my wife's income taught_me_patience Mar 2015 #55

...^ that 840high Mar 2015 #36

Please provide proof your grocery budget has increased 50% taught_me_patience Mar 2015 #54

Here is one example: dixiegrrrrl Mar 2015 #62

Well I can certainly attest to the cost of ground beef inanna Mar 2015 #65

No pay raise for me in four years. Drahthaardogs Mar 2015 #58

A lot of the "job boom" jobs are low-paying. Plus rents are up. djean111 Mar 2015 #2

This! inanna Mar 2015 #39

One factor: the rising cost of healthcare is sucking every dime out of the economy GreatGazoo Mar 2015 #3

You are right CountAllVotes Mar 2015 #7

oh, my! I'm on Medicare, and the three prescriptions I have SheilaT Mar 2015 #34

I too am on Medicare CountAllVotes Mar 2015 #42

You might need to revisit what supplemental plans are available to you. SheilaT Mar 2015 #44

I have no choice CountAllVotes Mar 2015 #45

You're on Medicare and your union tells you what supplemental or Advantage plan you can have? SheilaT Mar 2015 #46

Yes they do CountAllVotes Mar 2015 #47

Then look into the Advantage and supplemental plans for your part of the world if you are over 65. SheilaT Mar 2015 #48

I am not over 65 CountAllVotes Mar 2015 #59

Why are your office visits no co-pay? dixiegrrrrl Mar 2015 #63

I believe it's because of the ACA, which requires various routine office visits be free. SheilaT Mar 2015 #64

Two of my monthly medicines went up over $100 all of a sudden. tblue37 Mar 2015 #53

And student loans nt riderinthestorm Mar 2015 #12

But the ACA is the greatest law ever passed in history! Doctor_J Mar 2015 #26

It has slowed the rate of increase.... daleanime Mar 2015 #28

Personally PowerToThePeople Mar 2015 #50

That is great for you, but someone is paying for those astronomical profits Doctor_J Mar 2015 #56

I agree with you 100%. PowerToThePeople Mar 2015 #57

Complaining about consumer spending...in a BOOMING job market? Thanks, Obama. Fred Sanders Mar 2015 #4

Occupy agrees, they put this on Twitter: dixiegrrrrl Mar 2015 #67

My own personal saga may help shed light on this paradox. After a prolonged bout KingCharlemagne Mar 2015 #5

That's my story, too. I'm spending alright, Saphire Mar 2015 #8

I'm making ends meet with only one job (at the 30% pay cut), but only barely. If I want to have fun, KingCharlemagne Mar 2015 #20

This is exactly what is happening everywhere... sendero Mar 2015 #11

+1,000 CountAllVotes Mar 2015 #14

I read somewhere quite awhile ago that 95% of the gains from this so-called KingCharlemagne Mar 2015 #18

They are "completely useless"... sendero Mar 2015 #21

True. 840high Mar 2015 #37

Same here Scootaloo Mar 2015 #51

maybe people are finally realizing that they can... lame54 Mar 2015 #6

or they are realizing they have to fund their own retirement Skittles Mar 2015 #32

Even with a job the money all goes to bills madokie Mar 2015 #9

booming my foot. the bloomberg crowd is suffering from economic disconnect ND-Dem Mar 2015 #10

Disposable income aspirant Mar 2015 #13

I kinda blame GWBush on that one. Xyzse Mar 2015 #15

There's another word for "consumer". Binkie The Clown Mar 2015 #17

Simple, they want the rewards..... daleanime Mar 2015 #30

Yep. GummyBearz Mar 2015 #38

Can't spend what you don't have. hobbit709 Mar 2015 #19

''I’m thus mystified by the uniform tone of boosterism in the media...'' DeSwiss Mar 2015 #22

Thank you.. sendero Mar 2015 #61

Desperate doesn't denote booming as enough to prop up demand. mmonk Mar 2015 #23

"Booming?" davidn3600 Mar 2015 #24

The market is booming with part time low wage no benefit jobs Doctor_J Mar 2015 #25

First, the weather, second, no 'minimum wage,' elleng Mar 2015 #27

You would think that all of those brilliant minds Tsiyu Mar 2015 #29

Some of it is likely a sense of insecurity HereSince1628 Mar 2015 #31

While I'm outside the job market, having retired almost a year ago, SheilaT Mar 2015 #35

You make a very good point about advertising. F4lconF16 Mar 2015 #40

Your reply reminds me that movies and TV shows themselves SheilaT Mar 2015 #41

Luckily you have control of what internet sites you retrieve PowerToThePeople Mar 2015 #49

The more often I live without tv, the more irritating it feels when I see one blaring away. dixiegrrrrl Mar 2015 #66

Same here. I sometimes dislike SheilaT Mar 2015 #68

Goes to show you that tv will be obsolete soon dixiegrrrrl Mar 2015 #69

No. TV will not be obsolete, not any time soon. SheilaT Mar 2015 #70

Oh sure gas is 2 dollars, but a gallon of milk is 6. Rex Mar 2015 #43

Because more money goes to necessities abelenkpe Mar 2015 #52

It has more to do with the labor participation IMO. Savannahmann Mar 2015 #60