One of the big reasons why so many Americans are angry about the size of the “stimulus payments” in the COVID relief bill that Congress just passed is because this year has truly been a “financial disaster” for millions upon millions of people. More Americans than ever before are just barely scraping by from month to month, and $600 is just not going to go very far. In 2020, small businesses have been getting slaughtered by the thousands, millions of Americans are in imminent danger of being evicted from their homes, and more than 70 million new claims for unemployment benefits have been filed since the COVID pandemic first started. The U.S. has plunged into a brutal economic depression, and most of the country is desperately hoping that the federal government will do more to bail them out. (Read More...)
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Pocketbook Pain: The Rapidly Rising Cost Of Living Is Absolutely Killing The Middle Class In America
All over America, the middle class is dying and poverty is on the rise. One of the primary reasons for this is the rapidly rising cost of living in the United States. The cost of just about everything that average families shell out money for on a regular basis – food, rent, health insurance, etc. – is rising much faster than wages are. In a previous article I noted that the federal poverty level for a family of five is $28,410, but 51 percent of all American workers are making less than $30,000 a year at this point. We have seen an explosion in the number of people in this country that are considered to be “the working poor” and it gets worse with each passing year. (Read More...)