Got $400?

[sealybobo]

People don't have $400 to scrape together, but they do have big screen TVs, multiple computers, the latest cell phone, a late model car, and a full closet.

Our culture has done this, it's a self-inflicted wound, and only our culture can fix it.
.

which makes me question the validity of the story

The part I found hard to believe was they said credit cards too. 47% can't even use a credit card and come up with $400? That's pretty bad.

Even "rich" people can't come up with the cash. They are maxed out on private schools mortgages car payments insurances bills etc

 

[whitehall]

Aren't you sick of article after article predicting a "bleak future" for the greatest Country in the world? Illegal aliens die in the freaking desert to get here and when they do they live better than the "middle class" in their homeland. You could also say that more than half of the "middle class" in the survey can easily come up with the $400 to meet an emergency and the rest have the assets or can give up cigarettes or marijuana for a month and come up with the money.

 

[BluesLegend]

The government encourages the people to go into debt up to their eyeballs and this surprises anyone? When the people borrow and spend like there's no tomorrow this paints an artificial and temporary picture of a robust economy and the politicians pat themselves on the back. But then the bill comes due, when you can't borrow another dime and the debt consumes the lions share of your disposable income then well you are fucked.

What's really sad is how the Democrats have engineered a cash cow at the expense of young students. They enable students to take out loans no bank would approve by guaranteeing the risky loans. Naturally with heaps of risk free cash up for grabs the cost of a 4 degree has skyrocketed. Students borrow $100k or more for a degree worth $25k and begin their adult life with a mortgage size debt to pay off. Meanwhile the beneficiaries of this racket colleges, universities, and their staff funnel part of the money back to Democrat politicians, brilliant! A Chicago mob boss would love to have that kind of cash cow.

 

[sealybobo]

Aren't you sick of article after article predicting a "bleak future" for the greatest Country in the world? Illegal aliens die in the freaking desert to get here and when they do they live better than the "middle class" in their homeland. You could also say that more than half of the "middle class" in the survey can easily come up with the $400 to meet an emergency and the rest have the assets or can give up cigarettes or marijuana for a month and come up with the money.

They didn't ask if they could save up $400 if given a month or two. Fact is 47% couldn't go get $400 right now, not even if you allow them to use a credit card

 

[Manonthestreet]

My biggest problem right now is I can't find no black eyed pea seeds..

By default wouldnt you be mc if you had the dough.......

 

[Manonthestreet]

People don't have $400 to scrape together, but they do have big screen TVs, multiple computers, the latest cell phone, a late model car, and a full closet.

Our culture has done this, it's a self-inflicted wound, and only our culture can fix it.
.

Actually people dont learn til a depression hits

 

[Foxfyre]

People don't have $400 to scrape together, but they do have big screen TVs, multiple computers, the latest cell phone, a late model car, and a full closet.

Our culture has done this, it's a self-inflicted wound, and only our culture can fix it.
.

I am sure there are plenty of folks, working people, who don't have $400 left over each week and who are having a difficult time saving, I know a number of folks trying to live on social security in that situation--they are barely scraping by from month to month and a medical procedure not covered by Medicare or a necessary home repair is simply beyond their means. And if they have nobody to help them out, they simply do without. Many would work if they could, but jobs they can still do are extremely scarce.

But you also make a good point. I am mystified at all these hundreds of thousands or millions of people who seem to find money for tattoos and piercings all over their bodies or who will fork over several hundred dollars to see a concert or ballgame or enjoy an evening at the casino or neighborhood club, but can't come up with $5 for a photo ID. But that's another subject.

We have done this to ourselves by embracing or at least not pushing back hard on a culture of entitlement and victimization and sneering at those who think all prosper more when there is expectation and requirement for personal responsibility and accountability, as well as promoting an economic climate that enables people to find ways to prosper.

 

[Freewill]

I suppose if an R were in the WH, the MSM would make this a big story.

Absolutely, and the solution would be to give more tax cuts to the job creators so the wealth can tinkle down...

^ Moron ^

Considering that middle class people pay more in Federal-State-Local-Sales-Property-Taxes than they do for Housing+Food+Clothes. Cutting taxes for everyone would benefit the middle class....mostly by denying funding to the Government to make their lives miserable with Busy Body Regulations while making them pay for the "privilege".

Americans pay more in taxes than for housing, food, clothes combined In One Chart

Union workers at Ford gm and Chrysler in flint and detroit didnt mind paying taxes because they were making good money. Now those jobs are in mexico and china.

Republicans brag that the rich pay all the taxes. That's what happens when you have all the money.

The collapse of the middle class is hardly a partisan issue. Both party's are culpable...and both are criminal enterprises.

No I do blame one side more than the other but I do agree the Democrats haven't represented labor or unions nearly as well as they should have.

But remember who's at fault here. We don't show up to midterms but the pro NAFTA crowd does so they make the rules. Don't like it vote every two years

So who are you calling pro-NAFTA crowd? Mrs Tuzla Clinton followers? Would make sense since her husband passed the damn thing and she supported it, before she didn't.

 

[Muhammed]

Amazing. Millions of Americans have a bleak economic future. What a terrible mess the elites and pols have wrought.

I suppose if an R were in the WH, the MSM would make this a big story.

The Secret Shame of Middle-Class Americans
Nearly half of Americans would have trouble finding $400 to pay for an emergency. I’m one of them.

Since 2013,the federal reserve board has conducted a survey to “monitor the financial and economic status of American consumers.” Most of the data in the latest survey, frankly, are less than earth-shattering: 49 percent of part-time workers would prefer to work more hours at their current wage; 29 percent of Americans expect to earn a higher income in the coming year; 43 percent of homeowners who have owned their home for at least a year believe its value has increased. But the answer to one question was astonishing. The Fed asked respondents how they would pay for a $400 emergency. The answer: 47 percent of respondents said that either they would cover the expense by borrowing or selling something, or they would not be able to come up with the $400 at all. Four hundred dollars! Who knew?

The Secret Shame of Middle-Class Americans Living Paycheck to Paycheck

well, things are much better than when R's ran things.....despite intentional obstruction by the right.

imagine how much better it would be if you got out of the way.

THAT is probably why it isn't a story.

You've got it ass backwards. the Republicans tried to keep their booming economy rolling. However it was obvious that Fannie & Freddie needed reform to avoid serious consequences. Then, according to the polls, by 2006 the POS Dems had 1/3 of America convinced that the Bush administration perpetrated the 9/11 attacks. So the Dems rode the truther wave into control of congress in the 2006 elections, thus making Bush a lame duck. The Dumbocrats then obstructed reform despite knowing it was needed to avoid economic collapse.

They did it for selfish reasons. Particularly to get a Democrat into the Whitehouse.

Democrats are beyond evil.

 

[OKTexas]

Amazing. Millions of Americans have a bleak economic future. What a terrible mess the elites and pols have wrought.

I suppose if an R were in the WH, the MSM would make this a big story.

The Secret Shame of Middle-Class Americans
Nearly half of Americans would have trouble finding $400 to pay for an emergency. I’m one of them.

Since 2013,the federal reserve board has conducted a survey to “monitor the financial and economic status of American consumers.” Most of the data in the latest survey, frankly, are less than earth-shattering: 49 percent of part-time workers would prefer to work more hours at their current wage; 29 percent of Americans expect to earn a higher income in the coming year; 43 percent of homeowners who have owned their home for at least a year believe its value has increased. But the answer to one question was astonishing. The Fed asked respondents how they would pay for a $400 emergency. The answer: 47 percent of respondents said that either they would cover the expense by borrowing or selling something, or they would not be able to come up with the $400 at all. Four hundred dollars! Who knew?

The Secret Shame of Middle-Class Americans Living Paycheck to Paycheck

But many will have no problem coming up with $600 for a new Iphone.

 

[Ray From Cleveland]

Amazing. Millions of Americans have a bleak economic future. What a terrible mess the elites and pols have wrought.

I suppose if an R were in the WH, the MSM would make this a big story.

The Secret Shame of Middle-Class Americans
Nearly half of Americans would have trouble finding $400 to pay for an emergency. I’m one of them.

Since 2013,the federal reserve board has conducted a survey to “monitor the financial and economic status of American consumers.” Most of the data in the latest survey, frankly, are less than earth-shattering: 49 percent of part-time workers would prefer to work more hours at their current wage; 29 percent of Americans expect to earn a higher income in the coming year; 43 percent of homeowners who have owned their home for at least a year believe its value has increased. But the answer to one question was astonishing. The Fed asked respondents how they would pay for a $400 emergency. The answer: 47 percent of respondents said that either they would cover the expense by borrowing or selling something, or they would not be able to come up with the $400 at all. Four hundred dollars! Who knew?

The Secret Shame of Middle-Class Americans Living Paycheck to Paycheck

well, things are much better than when R's ran things.....despite intentional obstruction by the right.

imagine how much better it would be if you got out of the way.

THAT is probably why it isn't a story.

Let's see, so now we have Commie Care where you get fined by the government if you don't have insurance. Your employer (if 50 or more full-time employees) now have to pay a fine as well if they don't provide it. Sure, they want to pay more money to their employees after that. Then of course all the employers that are trying to keep under that 50 employee mark by hiring part-time workers or foreigners who don't count as American workers as far as Commie Care is concerned.

Yeah, it's the Republicans fault for getting in the way. If not for Republicans getting in the way, we would be well over 22 trillion in debt today. 93 million American people of working age not working or looking for a job, and now that people can't afford $400.00, it's the Republican's fault.

 

[blastoff]

People don't have $400 to scrape together, but they do have big screen TVs, multiple computers, the latest cell phone, a late model car, and a full closet.

Our culture has done this, it's a self-inflicted wound, and only our culture can fix it.
.

Culture? How about irresponsible morons instead?

 

[Muhammed]

Kinda hard for people to come up with $400 if they can't find a job.

Personally, I usually have a lot more than $400 cash in my wallet.

 

[xband]

Kinda hard for people to come up with $400 if they can't find a job.

Personally, I usually have a lot more than $400 cash in my wallet.

I carry no money in my wallet because I have been robbed before with a pistol aimed at me. He wanted my money and cards which I gave to him. When I left with my life I immediately called my banks and canceled my credit and bank cards. I moved to a cashless society after that incident.

 

[Muhammed]

Kinda hard for people to come up with $400 if they can't find a job.

Personally, I usually have a lot more than $400 cash in my wallet.

I carry no money in my wallet because I have been robbed before with a pistol aimed at me. He wanted my money and cards which I gave to him. When I left with my life I immediately called my banks and canceled my credit and bank cards. I moved to a cashless society after that incident.

I'm financially secure, so if I lost several hundred dollars in a robbery at gunpoint it really wouldn't be a big hit to me. Of course I would probably shit my pants and be extremely pissed off for a while but it wouldn't stop me from paying the bills or anything.

Also, I think a robber is more likely to get angry if you tell him you don't have any money.

 

[Ray From Cleveland]

Kinda hard for people to come up with $400 if they can't find a job.

Personally, I usually have a lot more than $400 cash in my wallet.

Jobs are all around, the problem is the jobs can't find the workers.

 

[JakeStarkey]

And the corporatists continue to oppress the American worker.

 

[boedicca]

I suppose if an R were in the WH, the MSM would make this a big story.

Absolutely, and the solution would be to give more tax cuts to the job creators so the wealth can tinkle down...

^ Moron ^

Considering that middle class people pay more in Federal-State-Local-Sales-Property-Taxes than they do for Housing+Food+Clothes. Cutting taxes for everyone would benefit the middle class....mostly by denying funding to the Government to make their lives miserable with Busy Body Regulations while making them pay for the "privilege".

Americans pay more in taxes than for housing, food, clothes combined In One Chart

Union workers at Ford gm and Chrysler in flint and detroit didnt mind paying taxes because they were making good money. Now those jobs are in mexico and china.

Republicans brag that the rich pay all the taxes. That's what happens when you have all the money.

What a moron. I posted a link to the tax burden on middle class people and you start whinging about The Rich.

 

[Silhouette]

The Secret Shame of Middle-Class Americans
Nearly half of Americans would have trouble finding $400 to pay for an emergency. I’m one of them.

The Secret Shame of Middle-Class Americans Living Paycheck to Paycheck

Remove the burden of healthcare premiums and deductibles from them and businesses...there would be more disposable income and jobs to circulate around.

But NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO....... Can't do THAT! A small group of extremely wealthy people holding BigMedInsurance and BigPharma shares might lose a mansion or two..

 

[gipper]

The Secret Shame of Middle-Class Americans
Nearly half of Americans would have trouble finding $400 to pay for an emergency. I’m one of them.

The Secret Shame of Middle-Class Americans Living Paycheck to Paycheck

Remove the burden of healthcare premiums and deductibles from them and businesses...there would be more disposable income and jobs to circulate around.

But NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO....... Can't do THAT! A small group of extremely wealthy people holding BigMedInsurance and BigPharma shares might lose a mansion or two..

So you think socialized government provided healthcare is free for all.