There is little debate that our nation and our economy are struggling. While some believe we are on the rebound many of us are waiting for the other shoe to drop. I am one of those who believe things are about to get a whole lot worse for this country. Here are a few alarming statistics I found over at The Economic Collapse:
- A staggering 48.5% of all Americans live in a household that receives some form of government benefits. Back in 1983, that number was below 30 percent.
- According to a new study conducted by the Black Rock Investment Institute, the ratio of household debt to personal income in the United States is now 154 percent.
- If you can believe it, one out of every seven Americans has at least 10 credit cards.
- An all-time record 49.9 million Americans do not have any health insurance at all at this point, and the percentage of Americans covered by employer-based health plans has fallen for 11 years in a row.
- The total amount of student loan debt in the United States now exceeds the total amount of credit card debt in the United States.
- One-third of all college graduates end up taking jobs that don’t even require college degrees.
- The United States has lost an average of 50,000 manufacturing jobs per month since China joined the
World Trade Organization in 2001.
- According to Professor Alan Blinder of Princeton University, 40 million more U.S. jobs could be sent offshore over the next two decades.
- One out of every six elderly Americans now lives below the federal poverty line.
- More than 45 million Americans are now on food stamps.
- Right now, one out of every four American children is on food stamps.
- It is estimated that up to half a million children may currently be homeless in the United States.
- The percentage of millionaires in Congress is more than 50 times higher than the percentage of
millionaires in the general population
The author has listed 100 statistics in total about our economy, all of them as alarming as the next. Here is a link to the complete article, The Top 100 Statistics About The Collapse Of The Economy That Every American Voter Should Know.