If government reports are to be believed, Americans on welfare dropped by 8 million over the past two years.
I have read reports issued by the Dept. of Labor months ago regarding how 49% of working Americans earn $30K or less annually, so its not new information entirely. I have no reason not to think the figures are at least in the ballpark. It also stated that the “average” American doesn’t have enough cash savings to pay a $500 car repair bill and would have to sell something or borrow the money.
As for all those Mc mansions and similar indulgences, its debt. Whats it matter if someone earns $150K per year if 70% of it has to go towards servicing personal debt? The rest? Taxes, utilities, fuel, maintenance,food,clothing, and whatever unexpected expenses crop up… like your well.
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This reply was modified 1 year, 7 months ago by
James Mitchner.