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Thursday, October 7, 2010

Sinking like a rock...


27 Signs That The Standard Of Living For America’s Middle Class Is Dropping Like A Rock

Most of those who write about the plight of the American middle class believe that things can be turned around and that the middle class will eventually be stronger than it ever has been. But unfortunately, that is just not the case. As a society, we have lived far, far beyond our means for decades. Now the bills are coming due and none of our leaders seem to know what to do.

Meanwhile, the U.S. economy is being rapidly assimilated into the emerging one world economy. Middle class American workers now find themselves in direct competition for jobs with the cheapest labor on the other side of the globe. Of course many multinational corporations have taken advantage of this by moving factories and jobs to countries like China where blue collar workers make about a dollar an hour. This has helped raise the standard of living for workers in those nations by a nominal amount, but it has been absolutely devastating for the standard of living of America's middle class.

So what does all of this mean?

It means that the U.S. economy is headed for collapse and middle class Americans are in for some really, really hard times.

The following are 27 signs that the standard of living for America's middle class is dropping like a rock....

#1 Household spending for the middle fifth of all U.S. income earners was down 3.5% in 2009. That was the steepest one year decline since records began being kept back in 1984.

#2 Median household income in the United States fell from $51,726 in 2008 to $50,221 in 2009.

#3 According to one new report, in 2009 residents of New York state experienced their first full-year decline in income in more than 70 years.

#4 Of the 52 largest metro areas in the United States, only the city of San Antonio did not see a decline in median household income in 2009.

#5 Home ownership in the United States declined for the third year in a row in 2009.

#6 In 2009, approximately 4 million Americans fell out of the middle class and now live below the federal poverty line.

#7 The number of Americans enrolled in the food stamp program has set a new all-time record for 20 consecutive months.

#8 In July (the last month for which data is available), 41.8 million Americans were on food stamps.

#9 The number of Americans in the food stamp program skyrocketed more than 55 percent between December 2007 and July 2010.

#10 In 2009, more than 48 million Americans were enrolled in the Medicaid program.

#11 One out of every six Americans is now enrolled in at least one anti-poverty program run by the U.S. government.


Link:
http://theeconomiccollapseblog.com/archives/27-signs-that-the-standard-of-living-for-americas-middle-class-is-dropping-like-a-rock

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