Most Americans are one paycheck away from the street

Some 63% of people can’t deal with a $500 emergency

Americans are starting 2016 with more job security, but most are still theoretically only one paycheck away from the street.

Approximately 63% of Americans have no emergency savings for things such as a $1,000 emergency room visit or a $500 car repair, according to a survey released Wednesday of 1,000 adults by personal finance website Bankrate.com, up slightly from 62% last year. Faced with an emergency, they say they would raise the money by reducing spending elsewhere (23%), borrowing from family and/or friends (15%) or using credit cards to bridge the gap (15%).

Surprise! US Has Zero Grain Reserves Since 2008

 

The drought in the American West is causing devastating consequences on US agriculture. With grain prices climbing steadily, some have proposed the reestablishment of a Strategic Grain Reserve to control costs, a program which was phased out entirely seven years ago.

Driving across any highway through the American heartland, you’re sure to see the horizon dotted by tall grain silos. Whether the classic, wooden variety which wouldn’t look out of place in an Edward Hopper painting, or the more modern, metallic version, the structures serve an important purpose. Silos preserve the excess harvest from earlier seasons to be used during more trying times in the future.

With the California drought potentially entering a fifth year, it may be beneficial to consider the concept on a more national scale, according to Frederick Kaufman’s article for the LA Times.

Americans: One Small Emergency Away From the Street

In general, America is also one catastrophic event away from irreparable implosion.

 

Most Americans are only one paycheck away from the street, according to a new survey by personal finance website Bankrate.com.

The survey of 1,000 adults found that approximately 62 percent of Americans have no emergency savings for things such as a $1,000 emergency room visit or a $500 car repair.