Debt/Income Decline

[dreamdancer 0]

it's not going to end well...

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The cuts in taxes for the mega-wealthy have led to record wealth inequality and resulted in a huge national deficit. Meanwhile, to make up for the deficit created in part by tax giveaways to one-tenth of one percent of the population, Democrats and Republicans are committed to making draconian budget cuts to vital social services, which target the poor, middle class, elderly and sick, while handing out billions more in corporate welfare annually. (Inequality = Debt = Austerity)

Just as the government has done, to make up for tax revenue lost to the mega-wealthy, Americans have made up for the decline in income by taking on large amounts of debt as well. (Inequality = Debt)

In a severely unequal society, massive debt will always be created, thus forming a vicious cycle of increasing inequality and increasing debt, until the fragmentation of society reaches a breaking point when those in debt cannot afford to pay back their debts without starving to death. (Inequality = Debt = Austerity = Civil Unrest)

http://www.alternet.org/economy/152016/debt%2C_debt%2C_debt%3A_90_of_americans_experience_income_decline_as_wealth_gets_sucked_back_into_top_.1_--_debt_explodes_as_we_try_to_make_ends_meet/

stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding

[Kennedy 0]

You do know the Internet is made up of more than alternut, dz.com, and sites you've been banned from or embarrassed out of, right?

Do you have anything to say other than "rich people should pay for everything I want?"

witty subliminal message
Guard your honor, let your reputation fall where it will, and outlast the bastards.
1*

[metalslug 36]

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In a severely unequal society, massive debt will always be created..

Debt has little to do with low income and more to do with how you manage your finances.
In my first job years ago I was paid 'peanuts' and yet I had no debt.
I was living in a studio apartment with a fridge, a bed and a cheap computer, had no kids (by choosing not to have them), and rode a bicycle for 3 years while i saved up to buy my first car with cash, pre-owned and barely in working order.
Poverty can be a terrible thing; but it is not an automatic precursor to debt.

[rushmc 23]

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You do know the Internet is made up of more than alternut, dz.com, and sites you've been banned from or embarrassed out of, right?

Do you have anything to say other than "rich people should pay for everything I want?"

His big green monster complaints and crying to mommy rants are getting old

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[Kennedy 0]

Kudos to you. That's the difference between being broke and being poor.

witty subliminal message
Guard your honor, let your reputation fall where it will, and outlast the bastards.
1*

[dreamdancer 0]

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In the United States as a whole, nearly 15 million children (20 percent) live in poverty. A broader definition of economic straits – $43,512 a year, or twice the federal poverty line for a family of four, “a minimum needed for most families to make ends meet,” as Speer puts it – includes 31 million children, or 42 percent of the total.

According to the National Center for Children in Poverty at Columbia University, low-income rates for young children are higher than those for older children – 43 percent of children under age six live in low-income families, compared with 37 percent of children over age six.

But the problem is not evenly distributed. New Hampshire (11 percent), Minnesota (14 percent), and Massachusetts (13 percent) have the least child poverty, while Alabama (25 percent), Louisiana (24 percent), and Mississippi (31 percent) have the most.

With record high unemployment (12.1 percent) and home foreclosure rates, Nevada saw a 38 percent increase in child poverty over the past decade. Foreclosures have affected the lives of 13 percent of the children in Nevada (the highest such rate in the US), and about one-third of all Nevada children were in families where neither parent had full-time work in 2009.

"My biggest fear is not providing my daughter with everything that she needs to be a balanced child, to be independent, to be safe, to feel like she is of value," Karla Washington, a single mother earning less than $11,000 a year at her part-time job while attending the University of Nevada, Las Vegas, told the Associated Press.

http://www.csmonitor.com/USA/Society/2011/0817/Report-Child-poverty-rate-hits-20-percent-in-US-as-families-struggle

stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding

[champu 1]

Would you argue that anyone making more than the per captia GDP of the nation they live in is standing on the backs of the poor?

[billvon 3,120]

>"My biggest fear is not providing my daughter with everything that she needs to be a
>balanced child, to be independent, to be safe, to feel like she is of value," Karla
>Washington, a single mother earning less than $11,000 a year at her part-time job
>while attending the University of Nevada, Las Vegas, told the Associated Press.

If she is a single mom going to school while being able to feed, house and clothe her daughter, and her worst fear is that she cannot provide everything her daughter needs to feel like "she is of value" - she is doing better than 90% of the single moms on the planet.

That's a story that indicates how well our system works. In most places they starve; here they face only "not being able to feel of value."

[DougH 270]

Where is the article about how a maurading pack of rabid bankers shot Ms. Washington in the foot, and sold her daughter the a SriLanka Nike factory.

Your off your game DD.

"The restraining order says you're only allowed to touch me in freefall"
=P

[kelpdiver 2]

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Just as the government has done, to make up for tax revenue lost to the mega-wealthy, Americans have made up for the decline in income by taking on large amounts of debt as well. (Inequality = Debt)

A decline in debt/income would mean less debt, not more. You're English - write like it!

However, actual numbers seem to indicate that the average household debt has been flatlined and even decreasing over the past 3 years. People have improved their balance sheets, sometimes out of necessity, but for many because it is the right thing to do.

[kelpdiver 2]

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***
According to the National Center for Children in Poverty at Columbia University, low-income rates for young children are higher than those for older children – 43 percent of children under age six live in low-income families, compared with 37 percent of children over age six.***

This should surprise no one. The under 6 year old crowd have younger parents than the over 6 crowd. Those parents may have still been in school when they had the kid, and at the very least they had less work experience.

[dreamdancer 0]

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One in four California households with children reported food hardship, according to a new analysis of Gallup data released last Thursday by the Food Research and Action Center (FRAC).

“It’s disturbing, but not surprising,” said Kelly Hardy, director of health policy at Children Now.

The report analyzed data gathered as part of the Gallup-Healthways Well-Being Index project’s responses to the question: “Have there been times in the past 12 months when you did not have enough money to buy food that you or your family needed?”

“It sends a clear signal of economic distress, particularly for families with children,” noted James Weill, president of FRAC. “The answers to the question reveal there are times that these families are going without eating a meal, or the parents are skipping a meal for their children, or children are skipping meals.”

California had the second highest number of metropolitan areas with rates of food hardship in households with children in 2009-2010, according to the report.

http://www.commondreams.org/headline/2011/08/20

stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding

[Kennedy 0]

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The report analyzed data gathered as part of the Gallup-Healthways Well-Being Index project’s responses to the question: “Have there been times in the past 12 months when you did not have enough money to buy food that you or your family needed?”

They looked at one question in someone else's study and misunderstood why the answers meant. That question doesn't address significant issues.

It measures whether they ran out of money. It doesn't measure whether or not they make enough to eat. Big difference between those two questions. I know people making over $40k who have had tough months where things ran out at the end of the month. When you have car payments, alimony, child support, enjoy expensive hobbies, or otherwise generally live at or beyond your means and then a sudden expense crops up, things can get tough. It's largely a matter of your choices having consequences and failure to prepare for them. I also know a family of four bringing in less than $28k a year who have everything they need. Funny how that works out, huh?

So tell me. Of those millions in California who reported your mislabeled "food hardship," how many of them have no video games, no cable tv, cars older than ten years, etc? Are they facing hardship due to thing beyond their control, or because of their choices? (and the standard of living they're "entitled" to)

witty subliminal message
Guard your honor, let your reputation fall where it will, and outlast the bastards.
1*

[chutem 0]

Funny how they seem to have money for tobacco and beer.

James