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News Link • Economy - Economics USA

11 Long-Term Trends That Are Absolutely Destroying The U.S. Economy

The United States has lost approximately 42,400 factories since 2001. Approximately 75 percent of those factories employed over 500 workers while they were still in operation. An economy without a manufacturing base does not have a bright long-term future. Yet our politicians have allowed our manufacturing base to be systematically dismantled. As of the end of 2009, less than 12 million Americans worked in manufacturing. The last time that less than 12 million Americans were employed in manufacturing was in 1941. 41 million Americans are now on food stamps. One out of every six Americans is now enrolled in at least one anti-poverty program run by the federal government. Economic pain is everywhere. Tens of millions of Americans now live in poverty. The U.S. Census Bureau says that 43.6 million Americans are now living in poverty and according to them that is the highest number of poor Americans that they have ever recorded in 51 years of record-keeping.

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