Things are not going very well financially for an unusually large number of American families. In fact with more and more people falling into poverty and living in fear of starving in the streets of the country the nation is actually failing dramatically. At this time about 40 percent of households in the United States are showing financial stress reported Union-Bulletin.com on Aug. 9, 2014.
According to a new Federal Reserve survey of consumers four out of 10 households in the United States were in financial strain five years after the Great Recession. Many of these families have been hit with tight credit, high education debts and retirement issues. This same fed study claims the economy has made progress to the point where there are a majority of U.S. households that have been “living comfortably” or doing alright financially. However, the 40 percent figure of suffering families is staggering. With so much extreme suffering across the country it's hard to really say the system is working well.
More people than ever have reported their financial situation was worse rather than better off in comparison to five years earlier. What we are seeing is are the very deep and lingering harsh effects of the 2007-09 recession. A slow and uneven recovery has seen skewed toward the wealthy while the poor are the ones whose lives have been and remain on the line due to extreme forms of painful poverty.
The fed survey shows that 25 percent of American households are "Just Getting By" reports Money News. This first time report by the U.S. Federal Reserve has been described as a snapshot of how Americans perceive of their financial and economic well-being.
A shocking 31 percent of people who aren't retired have said they do not have any retirement savings or pension. This included 19 percent of those aged 55 to 64. This has left 25 percent of adults with no retirement planning at all. The situation has lead to millions of well educated Americans working part time even though they have wanted full-time jobs.
Clearly the entire system is not working well for far too many Americans. One must ask if the rich will really be able to enjoy their wealth as more and more Americans starve to death and are raped, shot and knifed in the ghettos and streets where they are being thrown daily as the landscape of the United States becomes more and more like a struggling third world nation.
The divide between the extremely wealthy and the extremely poor in the United States is now outrageous. It appears that if the extremely wealthy really want to enjoy their futures in a safe and habitable environment they should become more directly involved in finding solutions for the unnaceptably high level of rising and deadly poverty across the United States. Working on the creation of more full time good paying jobs would be a good start.