McDonalds turns away more applicants than Harvard
The US economy is a nightmare for anyone in the Middle Class seeking work or trying to survive daily expenses. At one point in time McDonalds was a standard fall back plan for many. Today, not even applying at fast food establishments guarantees you a job.
In 2010 only about 66 percent of Americans held a job, according to USA Today. It's the lowest level on record in American history. For those who do have jobs, many earn very little. A research by The New America Foundation revealed that the number of low-income jobs has risen dramatically, now accounting for over 41 percent of all jobs in the US. Decent paying jobs in America are disappearing.
The Wall Street Journal estimated that 5.5 million Americans remain unemployed and off unemployment benefits. That number does not included Americans who are unemployed and receiving minimal government assistance.
Many US households are actually receiving more in government aid than they pay in government taxes as 59 percent of America’s people receive government aid in some form.
The United States has lost approximately 7.25 million jobs since 2007, including about 50,000 manufacturing jobs since 2001 – when China joined the World Trade Organization, according to Forbes.
On top of employment woes, costs to the average American are continuing to rise. The average cost of a gallon of gas is hovering around $4.00, and is higher in many regions. The price of gas has jumped 30 percent in the past 12 months reports CNN Money. Energy prices overall have risen – including heating and lighting one’s home which now accounts of 6 percent of all consumer spending. When US energy costs rise, a new recession often follows.
Over 20 percent of children living in America live in poverty, as compared to Western Europe where the rate is typically under 10 percent. The number of impoverished children in America has risen by 2 million in just 2 years, according to the U.S. Census.
Those who can afford college often graduate with heavy debts, as the cost of a college education has increased by 900 percent since 1978, writes benzinga.com. Two thirds of US graduates enter their professional lives deep in debt, and with poor employment prospects mammy end up working remedial jobs that do not require an education. On top of student debt, total American credit card debt is now eight times greater than it was 30 years ago. Even Board of Governors of the Federal Reserve System had to admit it.
In stark contrast, the wealthiest 1 percent of Americans now own over a third of all wealth in the United States while the poorest 50 percent own a mere 2.5 percent of the wealth, according to the Working Group on Extreme Inequality. Income inequality is depending.
Bills are piling up; heath costs skyrocketing, home sales falling and prices reigning. America’s middle class is suffering with no sign of positive change in the horizon.
The US government continues to cut programs aimed at helping poor and middle class families. State governments are faced to balance budgets and are ending long held programs which offered assistance to lower income earners.
Meanwhile US defense spending and overseas war costs have skyrocketed with no sign of cuts. Foreign aid to other nations and costs of war are dwarfing the costs needed to sustain the US domestically, yet little is being done to support Americans at home.
The federal government doles out money to Pakistan, Afghanistan, Iraq and others; but, Joe the shop owner on Main Street receives nothing to keep his livelihood going.
The US is currently running a massive deficit and unable to care for its own people. Yet, the State Department manages to send financial assistance to Russian NGOs. Ironically, the Russian government is not running a deficit.
Many are questioning why the US actively funds and supports the people of other nations, but neglects to care for its own taxpaying citizens. As Americans suffer, NGOs in Russia, military operations in Pakistan, civil service programs in Iraq and political groups in Latin America all benefit from American tax dollars taken from the people who cannot find work, cannot afford to buy a home and often find themselves living unable to provide fully for their families.