The reason why so many people are clamoring for Congress to get another stimulus bill passed is because an unprecedented number of households are in desperate financial need right now. As you will see below, millions of Americans missed their rent or mortgage payments last month, millions missed their student loan payments, and millions are falling into poverty. The economic downturn that was sparked by the coronavirus pandemic has stretched on far longer than most people originally anticipated, and many Americans are simply running out of money at this point. In fact, one survey that was conducted not too long ago found that 40 percent of all households have “used up all or most of their savings” and 74 percent of families with children that make less than $100,000 a year have “experienced serious financial problems” during this crisis… (Read More...)
Unemployed
Millions Of Americans Are Now Making Far More Money Being Unemployed Than They Did When They Were Actually Working
More than 26 million Americans have filed new claims for unemployment benefits in recent weeks, and a lot of them will now be bringing home much more money than they did while they were actually working. Needless to say, this is going to create a perverse incentive for people to stay unemployed for as long as possible. Just think about this for a moment. If you could earn more money sitting on your sofa gobbling down chips and watching Netflix, what possible motivation would you have to go back to work? Many low paid workers are going to want to ride this gravy train all the way to the end, and as you will see below, this is already causing big problems for businesses all across America. (Read More...)
The Death Of The American Dream In 22 Numbers
We are the generation that gets to witness the end of the American Dream. The numbers that you are about to see tell a story. They tell a story of a once mighty economy that is dying. For decades, the rest of the planet has regarded the United States as “the land of opportunity” where almost anyone can be successful if they are willing to work hard. And when I was growing up, it seemed like almost everyone was living the American Dream. I lived on a “middle class” street and I went to a school where it seemed like almost everyone was middle class. When I was in high school, it was very rare to ever hear of a parent that was unemployed, and virtually every family that I knew had a comfortable home and more than one nice vehicle. But now that has all changed. The “American Dream” has been transformed into a very twisted game of musical chairs. With each passing year, more people are falling out of the middle class, and most of the rest of us are scrambling really hard to keep our own places. Something has gone horribly wrong, and yet Americans are very deeply divided when it comes to finding answers to our problems. We love to point fingers and argue with one another, and meanwhile things just continue to get even worse. The following are 22 numbers that are very strong evidence of the death of the American Dream… (Read More...)
The Real Unemployment Rate: In 20% Of American Families, EVERYONE Is Unemployed
According to shocking new numbers that were just released by the Bureau of Labor Statistics, 20 percent of American families do not have a single person that is working. So when someone tries to tell you that the unemployment rate in the United States is about 7 percent, you should just laugh. One-fifth of the families in the entire country do not have a single member with a job. That is absolutely astonishing. How can a family survive if nobody is making any money? Well, the answer to that question is actually quite easy. There is a reason why government dependence has reached epidemic levels in the United States. Without enough jobs, tens of millions of additional Americans have been forced to reach out to the government for help. At this point, if you can believe it, the number of Americans getting money or benefits from the federal government each month exceeds the number of full-time workers in the private sector by more than 60 million. (Read More...)