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Poor America: 40% of Americans Can’t Afford Middle-Class Lifestyle

Sunday, May 20, 2018 19:09
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Even though the stock market trades at near record highs, joblessness suppressed at decade lows, and corporate buybacks/profits booming via Trump’s tax reform, poverty is exploding all over America.

One of the primary objectives of the Federal Reserve’s monetary policy of this past decade was to generate the “wealth effect”: by artificially driving valuations of stocks and bonds to nosebleed valuations, American households would feel more prosperous, therefore, be more inclined to borrow and spend, even if some households did not own financial instruments.

In other words, a Central-Bank-free-money-anything-goes-induced ‘economic recovery’ was supposed to trigger fast-paced economic growth, as households would reignite the service-based economy.

While this perception management only worked for the wealthiest households who owned financial instruments, the reckless monetary policy of the Federal Reserve created a massive problem of wealth inequality among Americans.

According to a new study obtained exclusively by Axios, more than 40 percent of households cannot afford the basics of a middle-class lifestyle, including rent, transportation, childcare and a cellphone.

The study, conducted by the United Way ALICE (Asset Limited, Income Constrained, Employed) Project, a nationwide effort to quantify and describe the number of households that are struggling financially, discovered “a wide band of working U.S. households that live above the official poverty line, but below the cost of paying ordinary expenses,” said Axios.

Stephanie Hoopes, Ph.D., Director, United Way ALICE Project told Axios, “based on 2016 data, there were 34.7 million households in that group — double the 16.1 million that are in actual poverty.

Axios reminds us that for two-years, U.S. politics has been overwhelmed by the anger and resentment of a self-identified abandoned class of people, dubbed the “deplorables,” a group of millions of Americans who have been left behind economically and forced into poverty.

According to Hoopes, the United Way research report will be fully released on Thursday, which suggests that the “deplorables” are a much larger group than many have anticipated — and growing despite the stock market trading at near record highs.

Axios provides a summary of the report that will be released on Thursday: 

  • The United Way study, to be released publicly Thursday, suggests that the economically forgotten are a far bigger group than many studies assume — and, according to Hoopes, appear to be growing larger despite the improving economy.”

  • The study dubs that middle group between poverty and the middle class “ALICE” families, for Asset-limited, Income-constrained, Employed. (The map below, by Axios’ Chris Canipe, depicts that state-by-state population in dark brown).”

  • These are households with adults who are working but earning too little — 66% of Americans earn less than $20 an hour, or about $40,000 a year if they are working full time.”

Poverty vs. income-constrained households (Share Below Poverty) 

Poverty vs. income-constrained households (Share Below ALICE Level) 

Axios said when you add them to Americans living in poverty, it comes out to a stunning 51 million households. “It’s a magnitude of financial hardship that we haven’t been able to capture until now,” Hoopes said.

Using 2016 data collected from the states, the study found that North Dakota has the smallest population of combined poor and ALICE families, at 32% of its households. The largest is 49%, in California, Hawaii and New Mexico. “49% is shocking. 32% is also shocking,” Hoopes said.

Last month, President Trump wrote an op-ed in USA TODAY titled “America’s Economy is Back and Roaring and Its People Are Winning.” For the sake of America’s survivability, let us hope that Axios is wrong about their assessment of the middle class and Trump is right; otherwise, this is just more evidence that suggests the implosion of America’s middle class.



Source: http://silveristhenew.com/2018/05/20/poor-america-40-of-americans-cant-afford-middle-class-lifestyle/

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  • Everette

    Blaim the damn UN and NWO give away programs demanded on America to give away hundred of billions of dollars to other nations while they set on their butts being equal to Americans as they slave to send them our hard earned money ! The Bible states Charity begins at home . Take care of those of America first then consider others . But not with give and you can set on your butts programs . Give a man a fish and he will eat for a day , teach him to fish and he will eat for a life time . But he will have to rise from his butt and go fishing ! This same principle works for America . The Obama Trillions of dollars give away programs have almost bankrupted America . 51 % of America takes care of 49% of the rest of America . Those hurt or retired are worthy to receive help . Those able need to contribute . The Bible states you don’t work you don’t eat ! Americans needs to shut off all other country give away programs even to the UN Muslim agenda . Hell in Palestein we send them millions of dollars in money that they in return use in pay to slay Israelites . They pay their citizens families with money we send to them for those that will die to kill Israelites large sums of money ! This is crap ! They need help teach them how to help themselves . America has become the worlds slaves to give them life styles equal to Americans which has now become just getting by . Then Obama brought in Muslims and paid them $4500 a month with housing , EBT cards , medical and any other assistance needed that was put on tax payers backs . Many Americans don’t make this kind of money with free assistances . Yet we give it to illegals whom we don’t know if they could be radicls islamics or not . And hell no they weren’t Veted . They ran from their own government , who then gave them the OK standards to meet Americas requirements to be brought into America ? Muslim Obama that who ! All this money taken from Americans needs to stop now ! We don’t owe no one anything . How can we truely help others when we can’t help ourselves . This damn plan was set up to make America a third world country . Tell the UN Muslims and NWO natzi Vatican kiss our butts ! Damn hippocrits , they own trillions yet they won’t fund no one but terriost ! Look it up the Vatican helped fund the natzi war machine , the UN Muslim are help funding Islamic extremist ! Why do we bow to foreign entities which our Constitution tells us not to do ? We are the super power of the world , yet we kiss their asses as if they were our lovers ! This is what’s wrong with America’s poverty ! And then on top of that they stole our Gold and Silver at Fort Knox and give us pieces of paper with pictures of dead presidents on them worth no more than toilet paper ! Created loans were they print money borrowed but do not print th interest money . This means it can never be paid off unless you give up goods ( oil , minerals and other commodities ) and services to pay back the interest never printed . In the end they claim to own your country . They are criminal theives which have committed crimes against humanity ! Treason ! Treason !! Treason !!! The wanta funds that they have found belonging to America totl 475 trillion dollars . That could pay off our loans interest debt of 21 trillion to the criminals , but wait they are criminals hang their asses ! Then we keep it all and pay every American out of debt from the American banks and then divide up the trillions left to the people that have been raped by the taxes taken by the reptilian presidents and capitol officals who kissed ass with the NWO Vatican luciferian natzi Esau edomite dukes and the UN Muslim Ishmaelites . Hang their asses for kissing foreign entities asses then divide up their money with all Americans . There is what about 350 million Americans ? Divide that number into 475 trillion dollars and get a suggested payout to each American citizen . Americans poverty is solved ! Every American citizen would then be be million aires . What a far cry form every citizen owing money to pay off a debt that was criminally created to own each of us ! If American would wake up and become the government our Constitution told us we were and not allow our representatives we sent to Washington to tell us now they are our superiors and bully us with words created so we don’t understand their talk and we step back and allow them to take freely our hard earned money so they could line their pockets , then we would not be in the poverty shape we are in now ! The only difference in them and us is they screw their pants on !

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