The Current FReepathon Pays For The Current Quarter's Expenses?
Posted on 08/11/2014 6:44:48 AM PDT by george76
Four in 10 U.S. households are straining financially five years after the Great Recession — many struggling with tight credit, soaring education debt and profound issues related to savings and retirement, according to a new Federal Reserve survey.
The wide-ranging Fed study assessing the economic well-being of Americans shows that the economy has made progress to the point where most households said they were "living comfortably" or doing OK financially.
But almost 40% reported last fall that their families were "just getting by" or struggling to do so, and more people said their financial situation was worse rather than better off compared with five years earlier.
...
This suggests that some of the folks who dropped out of the labor force during the recession will not be returning.
...
The recession has turned more Americans into renters, yet the survey suggests that's not because they aren't interested in being homeowners. The most common reasons people gave for renting were because they couldn't afford a down payment or couldn't qualify for a mortgage.
On loans in general, about one-third of consumers were turned down or given less credit than they had sought. An additional 19% reported putting off applying because they figured they would be rejected.
...
Financial strains also were evident in health spending: About one-third of respondents said they had put off medical care in the prior 12 months because they could not afford it.
Also, fewer than 40% of households had a rainy-day fund to cover expenses for three months.
(Excerpt) Read more at latimes.com ...
I know, the Clinton’s had to cut their vacation to just 3-weeks and $100,000.
Hopey Hopey Change Change!
And, I guess the lyin’ king and his clan can ONLY spend 12 days vacationing on their current trip. Man does that suck or what. (can you imagine spending 12 days with moochie?) Lucky for us the economy has turned around huh?
I can say that my income increased about 40% over 2 years and I have not seen an increase in disposable income. Between higher tax rate, higher costs and getting my kids out of public school to private, I still break even.
One good example is the increase in traffic between my house and work. Instead of improving roads they built a toll road so I can either spend about $140 a month on tolls or the wife unit and I can take a hour plus (one way) to work everyday for a 24 mile drive that took only 32 minutes in 2011.
And those struggling Americans will continue to vote Democrat, with enthusiasm.
The Current FReepathon Pays For The Current Quarter's Expenses?
Based upon what I’ve seen the title should read “Most Americans are still struggling financially”
> I can say that my income increased about 40% over 2 years and I have not seen an increase in disposable income.
And you’re still probably behing because you can’t keep up with the accelerated cost of living that 0 has brought about with hyperinflation (let’s just call it what it really is and not mince words or argue about the definition of hyperinflation by discussing technical terminology that causes us to to be unable to see the forest for the trees ala liberal Alinskyite lie and distract tactics shall we?)
I think they underestimate the devastation because most Americans don’t really want to tell you they are struggling or they have no savings.
Plus, how one feels about their income is a matter of attitude. Some folks can earn $70K and think it’s not enough while others earn $20K and are satisfied with their lives.
That reads almost like a commercial for re-inflating the subprime mortgage bubble.
The man who had a “laser like focus on jobs” doesn’t care. He wants to bring us down. He wants to destroy this country.
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