Half of American working families are living paycheck to paycheck

More than seven years after the Great Recession officially ended, there is yet more depressing research that at least half of Americans are vulnerable to financial disaster.

Some 50% of people is woefully unprepared for a financial emergency, new research finds. Nearly 1 in 5 (19%) Americans have nothing set aside to cover an unexpected emergency, while nearly 1 in 3 (31%) Americans don’t have at least $500 set aside to cover an unexpected emergency expense, according to a survey released Tuesday by HomeServe USA, a home repair service. A separate survey released Monday by insurance company MetLife found that 49% of employees are “concerned, anxious or fearful about their current financial well-being.”

One explanation: Americans are crippled under the same amount of debt as they had during the recession. The New York Federal Reserve on Monday predicted that total household debt will reach its previous peak of $12.68 trillion in 2017. The last time it reached that level was in the third quarter of 2008, during the depths of the Great Recession. Indeed, it’s already close: Total household debt in the fourth quarter of 2016 was $12.58 trillion. Fewer borrowers have housing-related debt in 2017 and, instead, have taken on auto and student loans.

One illness can push people to the brink of financial ruin. Wanda Battle, a registered nurse for four decades, was recently hit with a $100,000 medical bill. She has visited her local emergency room on more than one occasion due to severe migraines and mini-strokes. Battle, who is based near Nashville, Tenn., managed to reduce her latest hospital bill to $32,000 based on her relatively low income, but still faces $650 monthly payments for a previous $22,000 medical bill. “There were times I couldn’t work,” she told MarketWatch. “I have not held a job that is continuous.”

4 thoughts on “Half of American working families are living paycheck to paycheck”

  1. taxpayer says:

    bankers are living off of half of all American’s paychecks

  2. Good Point says:

    what’s worse is the sheeple are oblivious to the fact that they were sold unto debt slavery to the Rothschilds in 1913.

    they don’t mind shivering in the cold while their ‘wool’ (toil) lends comfort and warmth to their masters in the U.K. who own them.

  3. roger says:

    When I was a child,
    I wanted to be rich and powerful.

    When I was a child,
    I didn’t know that the ENTIRE WORLD ECONOMY is controlled by a small number of European Jewish families through their criminal ownership of the world’s central banks:
    Bank of Canada
    Bank of England
    Bank of Japan
    Bank of India
    et al

    When I was a child,
    I didn’t know that these same European Jewish Families (Rothschild, Warburgs, Schiffs, Lazard et al) are now the only TRILLIONAIRES in the world through the 6% dividend that the Federal Reserve pays them since 1913 which has resulted in them buying up all of the world’s corporations and governments and media and intelligence agencies.

    When I was a child,
    I didn’t realize that these same European jewish families now control of the world:

    They (ROTHSCHILDS) have used these ill-gotten gains to obscenely enrich themselves to such an extreme that they OWN THE ENTIRE WORLD>>>>

    LOOK and wake up:




    Every last cent must be returned !

  4. bob klinck says:

    When, oh when, are people going to realize that the pontifications of prostituted “professional” economists are intended to disguise the fact that the Money Power maintains Western economies in a state of Continuous Depression? China is being allowed by the Money Power to develop at a rate Americans can no longer even imagine: the latest plan to build from scratch a new city three times the size of New York might leave us gaping, but elicits only blasé yawns from the Chinese; the latter have tens of thousands of kilometers of super high-speed rail, whereas Americans “can’t afford” even one. Wake from your trance and hold your administrators accountable for this blatant scam.