77 Percent Of All Americans Live Paycheck To Paycheck At Least Part Of The Time

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If a major economic crisis hit us right now, the vast majority of Americans would be extremely vulnerable.  According to a recent CareerBuilder survey, 40 percent of all Americans live paycheck to paycheck all of the time, and 77 percent of all Americans live paycheck to paycheck at least part of the time.  This is why there was such a problem with foreclosures during the last recession.  When millions of Americans suddenly lost their jobs many of them quickly found that they were unable to pay their mortgages because they had no financial cushions.  For decades, Americans have been trained that it is okay to get into debt up to their eyeballs and live paycheck to paycheck because times will always be good and jobs will always be easy to get.  Unfortunately, times have changed and many Americans do not realize that what has worked in the past is not going to work any longer.  Our economy is completely and totally falling apart, and economic success is no longer defined by whoever is able to accumulate the most toys.  In this economic environment you could lose your job at literally any moment.  Anyone that does not have a sizable emergency fund is flirting with disaster.

So how did we get here?

Why are 77 percent of all Americans living paycheck to paycheck at least part of the time?

Not Enough Jobs

Well, the truth is that the U.S. economy simply does not produce enough jobs anymore.

Everyone that wants a job is not going to be able to have one.

Many were hoping that once the last recession ended that we would see a huge rebound in the employment numbers but that has not happened.

In fact, the percentage of working age Americans that have a job is actually lower now than it was at the end of the last recession….

There are lots of reasons why this is happening.  One of them, of course, is that millions of jobs are being shipped out of the country.  When you consider how fast our jobs are being outsourced, it is actually a miracle that things in this country are not even worse.

When you total up all working age Americans that do not have a job in America today, it comes to more than 100 million.  Yes, many of them are parents that want to stay home with the kids or students that are enrolled in college, but still that is an absolutely staggering number.

And even the official unemployment numbers are starting to look quite gloomy again.

For example, the unemployment rate in New Jersey has risen to 9.8 percent, which is already higher than it was at any point during the last recession.

And if you do lose your job in this economic environment, it may be a long time before you are able to get another.  Today, the average duration of unemployment in the United States is nearly three times as long as it was back in the year 2000.

The Quality Of Our Jobs Is Declining

Not only is our economy not producing enough jobs for all of us, the quality of the jobs that are being produced continues to steadily decline.

At this point, only 24.6 percent of all jobs in the United States are good jobs.

That is a shocking figure.

The number of low paying jobs continues to increase, fewer jobs are offering health insurance and other benefits, and very few private sector jobs offer retirement benefits at this point.

In America today, one out of every four workers makes ten dollars an hour or less.

But you can’t support a family on 10 dollars an hour.

You can’t even come close.

Sadly, these low paying jobs continue to become a larger part of our economy.

30 years ago, less than 30% of all jobs in the United States were low income jobs.

Today, more than 40% of all jobs in the United States are low income jobs.

That is the wrong direction.

And those just entering the workforce are being hurt the worst.

As I wrote about a while back, approximately 53 percent of all U.S. college graduates under the age of 25 were either unemployed or underemployed last year.


Declining Wealth

As the quality of the jobs goes down, so does the wealth of average American families.

Back in 2007, 19.2 percent of all American families had a net worth of zero or less than zero.

By 2010, that figure had risen to 32.5 percent.

And when you look at median net worth, it also tells a story of declining wealth for American families.

According to the Federal Reserve, the median net worth of American families dropped “from $126,400 in 2007 to $77,300 in 2010“.

Rising Poverty

Needless to say, the middle class in America is being shredded.

Millions are dropping out of the middle class every single year.

So what is happening to them?

Well, they are joining the ranks of the poor and are becoming dependent on the government.

If you can believe it, right now more than 100 million Americans are enrolled in at least one welfare program run by the federal government.

Yes, that is actually true.

Remember, more than 46 million Americans are enrolled in the food stamp program right now and more than 54 million Americans are enrolled in Medicaid.

And those are just 2 of the almost 80 different “means-tested welfare programs” that the federal government runs.

An Increasingly Angry Population

It turns out that most Americans don’t like to be poor.

In fact, most Americans are desperately wanting things to go back to the way they used to be in this country.

The American people are steaming mad right now, and a whole host of recent polls and surveys have shown this.

For example, at this point Congress only has a 10 percent approval rating.  That matches an all-time low set earlier this year.

That is a crazy number.

And most Americans expect the economy to continue to decline.  According to a recent Gallup survey, 61 percent of all Americans believe that the U.S. economy is getting even worse.

But what can the U.S. government do?

It is already spending more than a trillion dollars more than it brings in.

We are stealing billions of dollars from our children and our grandchildren every single day and yet that is still not enough to get our economy going again.

We are now basically 16 trillion dollars in debt, and our debt is now more than 37 times larger than it was when Nixon took us off the gold standard.

We desperately need to change course, but neither major political party has any intention of doing that.

So we are headed for disaster.

The following is what renowned investor Jim Rogers had to say during a recent interview….

As far as I’m concerned, the election is irrelevant. One [candidate] happens to be from Boston and one from Chicago, and whoever wins, their friends are going to do well, but other than that America is not going to do well. There’s very little difference in any of these guys. None of them understands the problem. These are the guys that got us into trouble. You expect them to get us out?

And he is right.

We are living in the greatest debt bubble in the history of the world and we are suffering from a complete and total lack of leadership at the top.

Recently, a team of top economists and analysts carefully studied the global economic system, and what this team of experts discovered is quite chilling….

And according to these experts – who have presented their findings to the United Nations, the UK Parliament and a long list of world governments – the catastrophe may happen well before Americans hit the polls in November.

“What this pattern represents is a dangerous countdown clock that’s quickly approaching zero,” said Keith Fitz-Gerald, the Chief Investment Strategist for the Money Map Press, who predicted the 2008 oil shock, the credit default swap crisis that helped bring about the recession, and the Greek and European fiscal catastrophe that is still wreaking havoc until this day.

“The resulting chaos is going to crush Americans.”

Other members of the team were extremely alarmed by what was discovered as well….

Another member of this team, Chris Martenson, a global economic trend forecaster, former VP of a Fortune 300, and an internationally recognized expert on the dangers of exponential growth in the economy, explained their findings further:

“We found an identical pattern in our debt, total credit market, and money supply that guarantees they’re going to fail,” Martenson said. “This pattern is nearly the same as in any pyramid scheme, one that escalates exponentially fast before it collapses. Governments around the globe are chiefly responsible.”

“And what’s really disturbing about these findings is that the pattern isn’t limited to our economy. We found the same catastrophic pattern in our energy, food, and water systems as well.”

Most Americans do not realize this, but we are heading for an economic disaster of unprecedented proportions.

It is going to be extremely painful and it is going to shake millions of Americans to the core.

Get ready while you still can, because time is running out.

The Beginning Of The End - The New Novel About The Future Of America By Michael T. Snyder
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  • marK

    I have been a landlord since 1981 and I have watched many people live paycheck to paycheck in the past. I can’t say on first hand knowlege today as I do not manage my apartments any longer, but my property managers are seeing this start to get worse again. In 2009 we went into a 1 year depression in one small town as far as rents went. The price of food and fuel are hurting the working poor and it will only get worse. If I were you and you have not started, you had better stock up as much as you can afford with food, clothing and fuel if permited. Start today!

  • Gary2

    Michael–you should not be posting Mal’s IQ like that. Of course all one has to do is read his fact-less posts to see it is probably much lower.

    • Mal R

      Tsk Tsk Tsk. And yet, just below this lil gem (p.r.o.j.e.c.t.i.o.n) from Gary, he posts tax the rich and spread the wealth garbage.

      Gary, spread the wealth has enabled how many dictators in history? How many millions have been killed by those dictators? How many rich people are trying to flee France now that they’ve elected a socialist that wants to tax the rich and spread the wealth? What’s going on on the borders of Italy right now in terms of people trying to flee with their wealth Gary?

      You’re a barrista right Gary? *yawn* You came to a butt kicking contest as a paraplegic.

      • Anonymous

        “proletarians have nothing to lose, but their chains. They have a world to win. Working men of all countries, unite!” Karl Marx.

  • Gary2

    tax the rich and spread the wealth.

    • k

      Not all rich ,but only those who got tax breaks by promising to create jobs but dint.

    • Exposing Their Lunacy

      Envious greed and thievery (socialism/marxism) doesn’t work. How do you think Europe and the U.S. got into this situation? The last people who went about robbing people,which you support, communists, murdered 120 million of their own people. Your comments are very creepy. I can’t believe I even broke down to read one of your asinine comments (as usual).

    • Socialism is Thievery

      Then there will be no wealth to create jobs. Gary are you 8 years old? I ask because your comments show a lack of basic common sense, logic and simple economics. If you steal, because of envy or laziness, then don’t you think that will make everyone poor in the long run? A 12 year old can understand this.

  • Skid Marx

    It is those damn rich people they stole everything I didn’t have in the first place and they owe me.

    • Buzzy Watts

      Skid, it is the rich. They sure aren’t shipping jobs overseas, and importing millions of foreign scabs, at the behest of the common worker.

      • Mal R

        And of course Govt policy has ABSOLUTELY NOTHING to do with it.

        • k

          who do you think lobbied the govts( democrat and republican) to open up trade in the first place.

          • Mal R

            and who do you think passed the laws?

          • k

            @malR…hence both are to blame. So people shouldnt blame one and ignore the other.

          • Mal R

            Dont make the mistake of thinking I do. I just have to correct the naive or stupid lefties that believe govt is some benevolent positive factor and a corporation is always some leviathan anti-American slave holding thing.

            The truth is no corporation has power that govt didnt give them so govt should be the first and foremost in blame. A corrupt small govt still holds little power. A corrupt all powerful govt however… Well, see Mao, Stalin, Hitler, Robespierre etc.

          • k

            @mal…R, government and corporations are two sides of the same coin.We are seeing so many examples every day.

            Infact i think it can be said: Government itself is a corporation.

        • Buzzy Watts

          Of course government policy is a driving factor–and who do you think is paying for that policy?

        • Gay Veteran

          the merger of state and corporate power, which is what we are witnessing, is called fascism

    • Gary2

      skid its called productivity theft so yes what the rich have is mostly others money.


    ARE YOU A BORN AGAIN AMERICAN???With the perfect hair
    And the perfect wife
    And the perfect kids
    And the perfect life
    I will finally be somebody

    Let’s play born-again American
    Resistance is the game!

    Two pigs wearing suits brought the news
    That I’m wanted by the bank

    They say the rent is due
    Caesar’s onto you, so you better remember your place

    Then they outsourced my job
    And gave a raise to my boss
    Bailed out the banks but billed me for the loss

    They say we must submit
    And be one with the Machine
    Because the Kingdom of Fear
    Needs compliance to succeed

    So waterboard the kids for fun
    It’s all the rage
    And play born-again American
    Resistance is the game!

    Smash the control machine
    Work, buy, consume, die
    Smash the control machine
    Happy little slaves for minimum wage

    The revolution will be monetized
    And streamed live via renegade Wi-Fi

    The clinic said I’m sick
    Toxic and impure
    But there isn’t any cure
    For the poor or uninsured

    So we live our digital lives on multiple screens
    And we forget that
    The blood of the workers grease the machines

    In the psalm of the fiends
    Love discriminates
    While the fat cats feed the rats
    Their dose of daily cake

    So waterboard the kids for fun
    It’s all the rage
    And play born-again American
    Resistance is the game!

    Smash the control machine
    Work, buy, consume, die
    Smash the control machine
    Happy little slaves for minimum wage
    Smash the control machine
    Work, buy, consume, die
    Smash the control machine
    Haters, betrayers, liars and thieves

    She sold her soul
    For designer clothes
    For the perfect lips
    And the perfect nose

    The winner in the end always owns the most
    Reality TV told her so!

    Money changer
    Greedy bankers
    This is the People’s House

    My minister has a sinister plan
    To save my soul with a credit card scam

    Exploitation is contagious
    For the selfish and self-inflated

    Start a war
    Use the poor
    Watch our profits soar and soar

    We’ve become a nation of wolves
    Ruled by sheep
    Owned by swine
    Overfed and put to sleep

    And while the media elite decrees what to think
    I am wide awake, on the edge, and on the brink

    So when atlas shrugs
    And the fountainhead bleeds
    And when Wall Street apostles preach a gospel of greed

    I’ll renounce the fame of this gluttonous age
    And be a born-again American
    Resistance is to blame!

    Smash the control machine
    Work, buy, consume, die
    Smash the control machine
    Haters, betrayers, liars and thieves
    Smash the control machine
    A nation of wolves ruled by sheep

    Exploitation is contagious
    Exploitation is contagious
    Exploitation is contagious

    • Gary2

      you should have quoted Rapture by Blondie. That way you would impress the foolish dolts who actually think they will be raptured like in the left behind series.

      I think it would be poetic justice for them to actually be raptured and forced to listen to that song over and over for all time.

      Maybe Gog could be on drums and the heroes of old can sing the chorus and really show us their renown.

      Man am I witty!

      • Mal R

        “Man am I witty”

        Oh ya. Yer a legend in yer own mind.



    • poseurs for the machine

      I’ll have to check them out. Hope they aren’t poseurs like rage against the machine who have record contracts with the mega corporate record label, live in mansions and drive BMW’s while raging against the machine.



  • HecatesMoon

    Today, my boyfriend and I made a decision.
    We will not buy anything but American Made products, unless it is secondhand- from yard sales, antique stores, and thrift shops so the money still at least goes only to people HERE when we have made the purchase.
    Corporations are the government now so if we want to continue to be heard, to matter, to have a say, people have to make an impact on the people who are really in charge, and it isn’t the names on those ballots anymore.
    If we want jobs brought back here, people must act on that with their pocketbooks instead of trying to act by voting for someone offering empty promises and owned by big business.
    Our wallets are voting for us. The more consideration taken in its use, the less we HAVE to use it by being more independent, the more it is given emphasis in one place and its use is denied in another, the stronger our voice.

  • Marion

    An excellent read and thank you, Michael. One thing not mentioned…

    There could have been a jobs recovery. The GOP made a pact on the day Obama was inaugurated to make him a one term President and block EVERYTHING he tried to do. While John Boehner kept asking, “Where are the jobs, Mr. President,” he and the GOP House did everything to block jobs creation. They don’t even talk about it now. So we have a political party sabotaging the American people for control of the country. I’d call that treason, but that’s here nor there.

    Back to your article, we all need to prepare.

    • Rufus T Firefly

      ****************, Obama and the Democrats had control of both houses of Congress his
      first two years and passed virtually everything they wanted. How did that work out…weakest recovery ever..unemployment was never supposed to reach 8% and instead has been over that figure for over 40 months. What on earth makes you think his crackpot ideas would work if we spent even more money than we don’t have?

    • Mal R

      “The GOP made a pact on the day Obama was inaugurated to make him a one term President and block EVERYTHING he tried to do.”

      They did that? Huh. I missed that news story. Can you point me to it please.

      Hey, uh, when Democrats stood in their own way trying to pass Obamster care (Yea, that’s right, every last swingin Republican could have gone home while that debacle happened), was that the Republicans fault?

      Hey BTW, When the President’s budget recently garnered 0 votes in the Senate, was that part of the Republican pact you speak of? Not 1 democrat in a Democrat controlled Senate voted for it.

      I also missed that news story where Dingy Harry Reid became a republican.

      In reality, what you ascribe to your little conspiracy theory was the last vestiges of Republican conscience trying to prevent communists from overthrowing the Constitution.

      “So we have a political party sabotaging the American people for control of the country. I’d call that treason”

      Oh ya, we sure do, but it isn’t the Republican party. But then I’m sure you knew that sweetie pie. I tell ya what, go watch this leftist union commy talk about the goals of leftist unions. You know, the ones that the Democrat party completely controls.

      • Gay Veteran

        oh no, Mal R infests another website

        • Michael

          I enjoy reading what Mal R has to say.


      • Gay Veteran

        yeah Mal R, because EVERY union is communist


        “The GOP made a pact on the day Obama was inaugurated to make him a one term President and block EVERYTHING he tried to do.”

        shouldn’t take you long to Google that and find out that it is true, but it is all kabuki theater meant keep us serfs divided

    • marK

      Are you so mixed up that you still think that government creates jobs that grow our economy? Government regulations in the last 40 or so years has stopped real growth in our economy. You really need to stop drinking the kool aid and get a grip on life. Our system worked when we followed the general path of our founding fathers.

    • John W.

      Really? The Pubbies blocked everything even though Pelosi was the House Speaker and Reid was Senate leader. What kind of drugs are you on that make you that stupid. As for crying John Boehner he has rolled over for Obama on every issue. How do you get through life being so immersed in fantasy? Are you just a Clinton clone who does not know the truth?

  • Louise in MO

    Everywhere I go and everyone I talk with….it’s all about the economy, jobs and to a lesser degree, the November election. People are discouraged and disappointed that there is no “hope and change” as promised four years ago.

    People are beginning to realize what’s happenning here in America. Those that do are as you said, Michael, angry.

    God help the USA.

  • William

    How many of the Americans living paycheck to paycheck, or without jobs, supported the Smirking Chimp and war criminal Bush in the illegal and unnecessary war of choice in IRAQ? The total cost, after the last disabled veteran dies in 60 +
    years, will be in the $3-4 Trillion range. That money could have done a lot to fix the crumbling infastructure in America, or help small businesses, or help prepare the unemployed for industries coming online in the next few years.

    • Mal R

      How much did America spend on WWI, WWII, Korean and Vietnam vets? Those were wars Democrats got us into. I’m just asking to see if you cared about those vets or were you just a leftist hack.

      As for me, I need not look further than what the oh so tolerant Democratic left did to vets getting off planes coming home from Vietnam.

      Given the trillions the country has spent on the socialist safety net (in direct violation of the intent of the US Constitution vs the legitimate role of the milt), are you for cutting that back those programs to fix the crumbling infrastructure?

      • Gay Veteran

        oh, so you wanted Hitler to conquer Europe and Japan conquer Asia while we did nothing

  • DownWithLibs

    Just found this Blog. Will be keeping tabs!

  • Gay Veteran

    “…As for me, I need not look further than what the oh so tolerant Democratic left did to vets getting off planes coming home from Vietnam….”

    uban myth

    • Mal R

      I cant talk with you if you’re delusional. I can refute when you’re say stupid things, but when the stuff you spout is the product of an addled mind, well you’ll just have to work that out yourself.

      • Gay Veteran

        “I can refute when you’re say stupid things”

        then do it! or are you a legend in your own mind?

  • Gay Veteran

    and btw, war IS bipartisan

    both parties want empire abroad and the national security/surveilance state at home

    • Mal R

      Then why on Earth do you post that drivel about warmonger, terrorist Republicans?

      You are right, progressivism is a disease that infects both parties. About the only non-progressive Republican to hold the Presidency over the past 50 years is Reagan, and that’s a non-stop lie fest for you people.

      The fact is, you lefties are FAR worse than republicans ever were. You are collectivist, you are statist and you support totalitarians no matter what. A republican cant even get past reducing a spending increase without you troglodytes going on about starving children and throwing grannies over a cliff – thats a fact. We’ve been forced to deal with ‘the lesser of two evils’ and ‘spineless republicans’ for DECADES – which is why the Tea Party came about and why it’s really starting to take off. And what do y’all say about them.

      And then there’s the whole racism thing…. <rolls eyes>

      • Gay Veteran

        wow Mal R, your delusions are truly astounding

        the elites get us divided: Democrats vs. Republicans, right vs. left

        and YOU play along like a good little serf

  • Liberal Saboteurs

    This is what happens when the extortion loving, union thugs with their greed force American companies to offshore jobs. 70 dollars an hour to put a battery in a car? I don’t think so… I had to go to college to make not even half that.

    • kaiserin

      Go work in a coal mine and tell me that those people don’t 100% need a union. I think the families of the dead miners from Upper Branch should be the first people you talk to. Some unions are unnecessary but some aren’t. They are mostly in bed with corporate interests but the idea that American workers shouldn’t have basic health and safety standards is ludicrous. Of course, it’s not as ludicrous as anyone believing that having to treat people like human beings instead of disposable trash “forces” companies to offshore jobs. Their GREED is what “forced” them to do that, God forbid they make a few million instead of a billion dollars, right? How do you explain those wonderful corporations importing millions of illegals to do American jobs right here in the US, if they are “forced” to offshore jobs?

      I’m no liberal (nor am I a neocon) but people like you are the problem. You really will defend the undefendable, why? Do you think it can’t happen to you? Do you just not understand that, no matter what, WE THE PEOPLE are going to pay for their greed? You’re already footing the bill for those illegal’s welfare, food stamps and medical care because the corporations aren’t forced to provide anything for their workers, but that’s the union’s fault? At least those $70-hr workers aren’t being supported by the taxpayers! **************** *************, WAKE UP!

  • BoldComing

    I think there is a rift here and we are all speaking the same language. The true enemy lies at the gates while we squabble and fight in the playpen. The issue at hand is not who did this, but how do we as a consensus survive? I remind you all that we are the people, and we are the free (for a time) and we must all stop pointing fingers at one another. Greed of those apart is what has divided us, not who we are. So I ask, do we blame each other or do we charge those who have created this? I say, we remind ourselves of what and who we are as a people and move forward on that, and stop the petty fight. We are greater than that, this country is better than that, I took that oath in a firm belief that all of you can see beyond the thin veil of lies and deceit, and recognize that all people believe in the liberty we are all inherently given.

  • Diana Stokes

    Well, I think we should round up all those private banker’s that own the non-federal reserve. The ones who did a dirty deed in 1932 with our government behind our back now for 82 years they have been sending 40% to England and 60% to the Vatican…Everything the I.R.S. receives goes to these two places. The I.R.S. is the strong arm of the elite, the elite are corporations/government that takes our hard earned money and lets wall street gamble with it daily. America pays 130 out of 190 countries welfare every month. With 70 government alphabet agencies on their payroll and all the other wicked things tax payers pay for, If you come home with any money it’s a miracle. I say American’s grab hold of this out of control bucking bronco and put her back in the barn. Cut off the gov. and corp. fulfill our obligations to our military men and women. Then invest in our infrastructure, Take back education, grow our own food, manufacture our own goods and services, take back our own health care and live the American dream. And put all those psychopaths in reeducation camps, until they learn some respect and give back to America.