Posted BY: Kara | NwoReport
If you are struggling to make it in this economy, you are not alone, because there are millions of other Americans in the exact same boat. Needless to say, the cost of living has become extremely oppressive, and that has put a tremendous amount of financial stress on U.S. families.
Unfortunately, the Federal Reserve has chosen to fight inflation by aggressively hiking interest rates, and that is starting to cause massive problems. The money supply is actually shrinking, the banking system has been thrown into a state of chaos, and we are witnessing a tsunami of layoffs that is unlike anything that we have seen since the Great Recession.
For most Americans, employment is the only thing standing between them and poverty. In fact, one recent survey discovered that 44 percent of Americans actually work more than one job…
Forty-four percent of Americans work a second job, a 13 percent increase relative to the Trump administration, a LendingClub report revealed Tuesday.
The recent increase under President Joe Biden is highlighted by a survey from FlexJobs, which found 69 percent of employed professionals either have a side job or want one.
This is our economy now.
Tens of millions of Americans have to work multiple jobs just to survive.
And at this point, more than 60 percent of the population is living paycheck to paycheck…
The LendingClub report also revealed 62 percent of Americans, including 48 percent of high-income consumers, were living paycheck to paycheck in February, up two percentage points from the month prior.
But if you are able to find a way to scrape by from month to month, you should be quite happy, because according to author Matthew Desmond, approximately 18 million Americans have been living in a state of "deep poverty"…
In his book, Desmond, analyzing data from the U.S. Census Bureau and other sources, reports that 1 in 18 people in the U.S. live in what's considered "deep poverty," or what he calls "a subterranean level of scarcity."
In 2020, this category included people who make less than $6,380 a year, or families of four living on less than $13,100. In 2020, almost 18 million people in America lived in these conditions, including some 5 million children.
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