Could you take care of a family of four on less than $2000 a month?
Millions upon millions of families are experiencing a tremendous amount of pain in this economy, and no matter what “solutions” we think are correct, the reality is that we all should have compassion on them. This gallery is of people who are trying each day to combat this issue in their own small way. They are using fame to change the tide.
Here are some staggering facts from the U.s. Census Bureau for 2012.
- 46.2 million Americans are under the poverty line — that’s 15.7 percent of the country
- 1-in-15 American households earned less than $11,406, the second highest percentage since 1967
- Median household incomes fell 1.5 percent to $50,100
- 48.6 million Americans did not have health insurance in 2011 (down from 2010)
- 9.4 percent of children did not have health insurance
- The bottom 10 percent of earners made the same amount of money in 2011 as they did in 1994
- Women continued to earn 77 percent of what men earned
- 27.6 percent of Black Americans were in poverty
- 25.3 percent of Hispanic Americans were in poverty
- 9.8 percent of White Americans were in poverty
- More than one-fifth of those under 18 were in poverty
This morning a new report says more and more forty somethings are borrowing from 401-k’s to make ends meet. Teresa Ghilarducci, an economist at the New School for Social Research, calculates that half of retirees are destined to live near poverty and will have to live on a food budget of about $5 per day. The values of houses — often the big asset that anchors a retirement strategy — dropped, on average, by 17 percent from 2007 to 2010. Wages have stagnated, too. Only about half of American adults have any retirement savings at all.