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Credit Suisse estimates that 25% of Americans are in this situation of having a negative net-worth.“If you’ve no debts and have in your pocket you have more wealth than 25% of Americans.You can find the report that the Social Security Administration just released right here.The following are some of the numbers that really stood out for me…
This should tell you something about the quality of the jobs that our economy is producing at this point.
-62 percent of all American workers made less than ,000 last year.
-71 percent of all American workers made less than ,000 last year. The federal poverty level for a family of five is ,410, and yet almost 40 percent of all American workers do not even bring in ,000 a year.
When you add those two numbers together, you get a grand total of 102.6 million working age Americans that do not have a job right now.
So many people that I know are barely scraping by right now.
Let us hope and pray that Congress somehow votes it down.