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As a nation we are flat broke and most of us are living paycheck to paycheck.
It has been estimated that it takes approximately ,000 a year to support a middle class lifestyle for a family of four in the U. today, and so the fact that 71 percent of all workers make less than that amount shows how difficult it is for families that try to get by with just a single breadwinner.
Credit Suisse estimates that 25% of Americans are in this situation of having a negative net-worth.
“If you’ve no debts and have in your pocket you have more wealth than 25% of Americans.
If you worked a full-time job at an hour all year long with two weeks off, you would make approximately ,000.
This should tell you something about the quality of the jobs that our economy is producing at this point.
In order to have a thriving middle class, you have got to have an economy that produces lots of middle class jobs, and that simply is not happening in America today.
With each passing day, more Americans are losing their spots in the middle class and this has pushed government dependence to an all-time high. Sadly, the trends that are destroying the middle class in America just continue to accelerate.
With a huge assist from the Republican leadership in Congress, Barack Obama recently completed negotiations on the Trans-Pacific Partnership.
And of course the numbers above are only for those that are actually working.
As I discussed just recently, there are 7.9 million working age Americans that are “officially unemployed” right now and another 94.7 million working age Americans that are considered to be “not in the labor force”.