Tuesday, November 08, 2016

Things not to fix ....

Some of the facts that whoever wins the American presidential election will not be effectively addressing.

Nearly two-thirds of American families were considered “middle class” in 1970. Today it's half or less. For every $100 owned by a “middle-class” household in 2001, that household had just $72 in 2013.

A J.P. Morgan study concluded that "the bottom 80% of households by income lack sufficient savings to cover the type of volatility observed in income and spending." A year ago it was reported that 62 percent of Americans have less than $1,000 in savings. That number is now up to 69 percent. Half or more of American families have virtually no savings, and would have to borrow money or sell possessions to cover an emergency expense. 3 out of 5 Americans spend more than they earn, not on frivolous extras, but on essential needs. 1 in 6 children in America struggle with hunger

 Minorities suffer the most. The typical black household has enough liquid savings to last only five days, compared to 30 days for a white household. The average black family would now need 228 years to catch up with the wealth of today’s average white family

Most new jobs are in service industries, including retail and personal health care and food service. Over half of American workers make less than $15 per hour. The only one of the eight fastest-growing occupations that pays over $33,000 per year is nursing, and robotic nurses are in the not-too-distant future. The evidence for downsized jobs keeps accumulating. A US Mayors study found that 'recovery' jobs pay 23 percent less than the positions they replaced. The National Employment Law Project estimates that low-wage jobs accounted for 22 percent of job losses but 44 percent of subsequent job gains. Business Insider, Huffington Post, and the Wall Street Journal all concur: the unemployment rate is remaining low because of low-paying jobs. 80% of low-wage workers can’t take a single paid sick day to care for their families

Nearly 40% of Americans will spend at least one year in poverty during our working years?

Without the safety net poverty would be twice as high today, approaching 30% and as it is, it is a pitiful sum. The average food stamp benefit (SNAP) is just $1.41 per person, per meal.
Only 1 in 4 households that qualify for federal rental assistance actually receives it;
Only 23 of every 100 families with children in poverty receives cash assistance (TANF)?


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