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News Link • Economy - Economics USA

Nearly half of Americans are low-income as rising expenses, unemployment shrink middle class

• Washington Post
Squeezed by rising living costs, a record number of Americans — nearly 1 in 2 — have fallen into poverty or are scraping by on earnings that classify them as low income.

The latest census data depict a middle class that’s shrinking as unemployment stays high and the government’s safety net frays. The new numbers follow years of stagnating wages for the middle class that have hurt millions of workers and families.


2 Comments in Response to

Comment by James Eldridge
Entered on:

This is the reason for that new bill, S 1867 and the opening of the FEMA camps. Something is 'planned' to happen here in the U.S. and when it does, lets hope that we still have an Internet to talk about it. That's when I want to read all of your comments after the SHTF and you all have to think again how you feel about this out of control spending government and the people it has affected.

Comment by Ed Price
Entered on:

Ever notice how, throughout the history of America, poverty-stricken people have survived and prospered? The big banking industry, trying to rule the world, is really shooting itself in the foot.

Actually, this is the last chance that anyone has to rule the world. If they don't do it now, civilization will use mounting technology, communications and transportation to get rid of big bank and big government controls. The people will become a government to themselves, exceeding the wildest dreams of the founding fathers of the United States. Why? Because people everywhere want peace, prosperity and free trade - everybody except the big bank and big government leaders, that is.

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