50 Facts That the Politicians Aren’t Discussing About Americans’ Finances
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The Democrats tell you they want to take care of the middle class, and the Republicans tell you they want to grow the economy. But the reality is, neither side is telling you the truth, only telling you what distracts you from the truth.
Related: Wall Street in Relentless Selloff as Oil Prices Sink
The current financial condition of America and its people are in serious trouble. Marco Rubio promises to reform tax codes and repeal Obamacare. Hillary Clinton plans to raise taxes on capital gains. Bernie Sanders wants to make college free. None of them wants to fix the real problems.
What are those problems? Following are 52 disturbing facts about the U.S. economy that should cause you to make economics a major issue at your house: The middle class economic condition continues to deteriorate, and regardless of where you are financially, these statistics may include you.
That deterioration should strike you as being something that extends beyond bad news and drama. It should be a conversation starter for you, your spouse and kids, your extended family and your employees. Here is the reality of your situation:
- 76 percent of Americans are living paycheck to paycheck
- 62 percent of Americans have less than 1,000 dollars in their savings account
- 65 percent of those 65 and older have less than $25,000 in retirement
- of all Americans have no savings account at all
- 43 percent of American households spend more money than they make each month
- Middle-class Americans today . In 1971, percent of all Americans lived in middle-class households
- In the last 14 years, median income of middle-class households declined
- Median wealth for middle class households between 2001 and 2013
- Middle class take-home pay before expenses has plummeted to just of gross pay, compared to 1970 when the middle class took home approximately of all income
- There are still in America than there were when the last recession began
- According to the Social Security Administration, of all American workers make less than $30,000 a year
- 48 percent of all adults under the age of 30 believe that “The American Dream is dead”
- Since hitting a peak in 2004, the rate of homeownership in the United States has been , and today stands at 63 percent of households
- The United States ranks when it comes to median wealth per adult
- The level of entrepreneurship in this country is
- For , more businesses have closed in the United States than opened. This has never happened before in U.S. history
- The 20 wealthiest people in the nation have more money
- The top 0.1 percent of all American families have as the bottom 90 percent combined
- If you have no debt and $10 in your pocket, you have a greater net worth than one out of four Americans
- The number of Americans living in concentrated areas of high poverty
- of all 25-year-old Americans still live at home with their parents
- of all Americans make less than $30,000 a year
- One out of five people live in poverty
- use food banks each year
- The number of homeless children nationally has increased over the past six years
- According to , 1.6 million American children slept in a homeless shelter or some other form of emergency housing last year
- of all children in the United States are living in a home that receives some form of aid from the federal government
- of all children live in households with an income below 60 percent of the national median income
- The United States out of the 41 “wealthy nations” in child poverty
- of all children in the United States raised by a single parent are living in poverty
- The “officially unemployed” plus those “not in the labor force” equal
- 70 percent of all Americans believe that “debt is a necessity in their lives”
- of all Americans don’t even have a minimum three-day supply of nonperishable food and water stored
- According , the actual unemployment rate in this nation is 22.9 percent
- The percentage of men working in America has gone from in 1980 to
- The labor-force participation rate for men
- The inventory-to-sales ratio has risen to its highest level . That means that a lot of unsold inventory is just sitting around out there
- The manufacturing index has fallen .
- Orders for “core” durable goods have fallen
- Since March 2015, the amount of goods being shipped by truck, rail and air inside the United States on a year-over-year basis
- Walmart is projecting that its earnings may fall over the next fiscal year
- Corporate debt in the United States
- Despite the Federal Reserve’s first increase in interest rates in 10 years, the U.S. Treasury prime rate has continued to drop, hitting new lows of 1.57 percent just this week
- Annual health-insurance premiums have increased by a total per household since 2008
- The average U.S. household that has at least one credit card has approximately in credit card debt
- The number of auto loans that exceed 72 months
- of all working-age Americans either currently have medical bill problems or are paying off medical debt
- The total amount of student loan debt in the United States has risen to $1.2 trillion, more than all credit card debt
- Approximately Americans are paying off student loan debt
- In just the last eight years, the nation added to the U.S. national debt, with admitted debt at some $19 trillion
Related: Don’t Let Debt Crush Your Financial Dreams
What we have seen so far is just the small tip of a very big issue that will affect us all. I have been saying for five years now: Get ready! It is time you make economics the number-one issue in your life. So, invest money only in growing yourself and your business opportunities. If something has no chance of improving one of those two things — don’t spend money on it.
Our economic infrastructure is gutted; our middle class is being destroyed; we have $20 trillion in admitted debt; Wall Street has been transformed into the biggest casino in the history of the planet; and our irresponsible, incompetent, lying and reckless politicians have piled up the biggest mountains of obligations to big banks and Big Pharma to addict the world on debt and drugs.
What has to change in this country is the idea that the government will fix our problems. Your mom and dad were sold on the idea that the government would keep them safe, secure their finances and ensure their retirement. We all know how that turned out — and if you don’t, reread No. 3. Anyone who believes that everything is “perfectly fine” and that we are going to come out of this “stronger than ever” is just being delusional. You must get your priorities straight.
You have to take control of your life. You cannot win if you do not take responsibility and control, yourself, your family, your finances, your health, your wealth and your community. You need to think differently about how you accomplish your goals — and recognize that, when you control your situation, you accomplish your goals more.
Related: 7 Ways to Be Debt-Free for the Rest of Your Life
The Democrats tell you they want to take care of the middle class, and the Republicans tell you they want to grow the economy. But the reality is, neither side is telling you the truth, only telling you what distracts you from the truth.
Related: Wall Street in Relentless Selloff as Oil Prices Sink
The current financial condition of America and its people are in serious trouble. Marco Rubio promises to reform tax codes and repeal Obamacare. Hillary Clinton plans to raise taxes on capital gains. Bernie Sanders wants to make college free. None of them wants to fix the real problems.