Some US Economic Facts That Will Make You Headache

articlemostwanted - Nearly 50% of US population has slipped into poverty or is having their life hard to live in. How much saving will you need for medicinal expenses in retirement? What does it cost to keep 2.5 million Americans behind bars? Here are a few facts and figures that might surprise you.

1. Recovery for the rich, recession for the rest.

Economic restoration is in rather narrow supply, it seems. Study by business analyst Emmanuel Saez explains that the elite 1 percent has enjoyed profit increase from more than 11 percent since the official end of the downturn. The rest of 99 percent hasn’t prosper so well, they having a 0.4 percent decline in income.

The elite at 10 percent of earners bring in 46.5 percent of all profit in 2011, the highest percentage since 1917 – and that doesn’t even incorporate profit owned from investments. Those 10 percent have benefitted from agreeable tax status and the increase in stock values, while the rest have been suffer with a lasting unemployment trouble that has kept salaries down. Saez believes this trend will continue in 2013 and his prediction proven to be true.

2. Half of us are indigent or barely scraping by.

The latest Census Bureau statistic shows that one in two Americans currently falls into either the “low earnings” category or is breathing in poverty. Low-earning is defined as those who has profit between 100 and 199 percent of the poverty level. Fixed for inflation, the incomes for the lowest 20 percent of families have fall down from $16,788 in 1979 to just under $15,000. Incomes for the next 20 percent have been stuck at $37,000.
States in the South and West had the highest proportion of low-income families, including Arizona, New Mexico and South Carolina, where politicians are eagerly shredding the social safety net.

3. Miserable meal.

46. 7 million US citizenship currently use food stamps to obtain a meal, and a lot of them aren’t old enough to generate income for themselves. Almost 1/2 of American children will possibly be on food stamps during some part of their childhood. For black children, that number grow to 85 percent. Eight percent of people receiving food stamps are seniors.

The standard monthly SNAP profit (food stamps) for every person is $133.85. That’s less than $1. 50 for every person, per meal. According to our Bureau of Job Statistics, in 2011, some sort of gallon of dairy cost $3. 50 normally in the U.S. while some sort of a pound of stew beef cost $4. 40. Food prices are anticipated to increase just as much as 3 percent at 2013.

4. Old age as well as poverty.

Based on political scientist Kenneth Thomas, the US has the dubious honor of having the highest parent poverty rate involving any industrialized nation bigger than Ireland. If poverty is actually measured as 50 percent from the median income, a huge 25 percent involving elderly Americans are viewed as poor.

Research signifies that an increasing number of Americans are stepping into poverty in retirement years. The percentage involving Americans at the ages of 75 to 84 fresh to poverty doubled in 2009 from 2005. Most elderly Americans moving into poverty have severe medical problems.

5. Incarceration region.

2.5 million Americans are under lock and key. That’s more than the population involving Philadelphia, Houston, Phoenix or Dallas. A lot more than the entire state of New Mexico. The US has 5 percent from the world's population, but we've got 25 percent from the world's prisoners.

The cost to taxpayers for keeping most of these people behind watering holes is $63. 4 billion a year. In some expresses, the cost of keeping one particular prisoner is just as much as $60, 000 per season – about just as much as it would take to purchase workers axed by simply austerity policies – like teachers, for illustration.
Source: internet