Monday, July 29, 2013

Tough Times

I knew the economy was bad for people that aren't as fortunate as me, but these numbers are astounding:
Four out of 5 U.S. adults struggle with joblessness, near-poverty or reliance on welfare for at least parts of their lives, a sign of deteriorating economic security and an elusive American dream.
Survey data exclusive to The Associated Press points to an increasingly globalized U.S. economy, the widening gap between rich and poor, and the loss of good-paying manufacturing jobs as reasons for the trend.
That's a huge majority of the country! It's amazing that that this fact isn't the single-most reported story in the media, not manufactured deficit-alarm or other esoteric beltway "news". Regardless, the story continues:
Economic insecurity among whites also is more pervasive than is shown in the government’s poverty data, engulfing more than 76 percent of white adults by the time they turn 60, according to a new economic gauge being published next year by the Oxford University Press.
The gauge defines “economic insecurity” as a year or more of periodic joblessness, reliance on government aid such as food stamps or income below 150 percent of the poverty line. Measured across all races, the risk of economic insecurity rises to 79 percent.  
This is essential context when considering recent events like the recent GOP efforts to continue big Agriculture subsidies via the Farm Bill without funding food assistance (the SNAP program).

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