Record 46.7 Million Americans Live In Poverty; Household Income Back To 1989 Levels

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According to the just released Census Bureau annual report on Income and Poverty, in 2014 the official poverty rate was 14.8% as a result of a record 46.7 million Americans living in poverty. This is the fifth consecutive year since the end of the recession that the number of impoverished Americans has barely not budged. What recovery?…

The people living in extreme poverty, i.e. below 50% of the poverty minimum, also rose to an all time high of 20.8 million. Continue reading

Americans Not In Labor Force Hits New Record High: 93,194,000

For the second month in a row, the number of people not in the workforce hit another record high in April, according to jobs data released Friday by the Bureau of Labor Statistics.

April saw the number of people dropping out of the labor force increase from March’s record 93,175,000 to a new record: 93,194,000 people not in the workforce. Continue reading

5 Sure Signs the U.S. Economy is Finished

And the fact is, the gap between high- and low-income groups is the widest it has been in 100 years and the share of U.S. consumers who call themselves middle class has never been lower.But those aren’t the only signs the economy isn’t all that it’s cracked up be. In fact, there are five unmistakable signs the U.S. Economy is teetering on the brink. Continue reading

19 Reasons Why You Can Laugh When Anyone Tells You That The Economy Is In Good Shape

Have you heard the one about the “economic recovery” in the United States?  It’s quite funny, but it is not actually true.  Every day, the establishment media points to the fact that global stock markets have soared to unprecedented heights as evidence that the economy is improving.  But just because a bunch of wealthy people have gotten temporarily even richer on paper does not mean that the real economy is in good shape.  In fact, as you will see below, things just continue to get even tougher for the poor and the middle class.  Retail stores are closing at the fastest pace since the fall of Lehman Brothers, the rate of homeownership in this country is the lowest that it has been in 19 years, one out of every five families do not have a single member that is employed, and one out of every five children is living in poverty.  We are working harder, earning less and going into more debt.  With each passing day, the middle class gets a little bit smaller and the ranks of the poor get a little bit larger.  But at least the stock market is doing great, eh?

If the U.S. economy really was doing well, government dependence would not be at epidemic levels.

If the U.S. economy really was doing well, we wouldn’t have more than a million public school children that are homeless. Continue reading