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Most Americans Adding Debt Faster Than Savings


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2013 Oct 30, 3:22am   2,224 views  9 comments

by Robert Sproul   ➕follow (1)   💰tip   ignore  

"As a result, 60 percent of U.S. households with a 401(k) or other defined contribution plan added more debt than they put away money for retirement, a group the report refers to as "debt savers.""
http://www.cbsnews.com/8301-505123_162-57609648/most-americans-adding-debt-faster-than-savings/

Another statistic of note, more people on welfare than working:

"There were 108,592,000 people in the United States in the fourth quarter of 2011 who were recipients of one or more means-tested government benefit programs, the Census Bureau said in data released this week. Meanwhile,according to the Census Bureau, there were 101,716,000 people who worked full-time year round in 2011. That included both private-sector and government workers."

At least the government shut down didn't last to long……..
Plus, all these poor shlumps have Obama Care to look forward to in the 5th Year of Recovery.

#politics

Comments 1 - 9 of 9        Search these comments

1   Dan8267   2013 Oct 30, 3:26am  

That's because our government debases our currency so fast that it strongly discourages and punishes savings while strongly encourages and rewards debt.

2   🎂 Tenpoundbass   2013 Oct 30, 3:36am  

...and don't forget all of the HR departments nationwide looking for ways to disqualify the most capable candidates in lieu for those who knows the secret Liberal resume handshake.

I was interviewed for a high level C# .net position yesterday by a fucking Java developer, who wanted to know what tech blogs do I read.

And what is up with these fucking clowns who thinks that the Microsoft Unit test is some kind valid substitute for experienced developers who knows what NOT to do.
I mean sure it will tell you that all of your classes are returning valid data types, but it wont tell you that you mapped the CustomerID to the InvoiceID in DAL. Nor will it tell you how your code is going to behave when it's slammed by 100K users a second. You don't think the Ofuckcare website didn't do Unit tests until their Balls were blue? Fucking idiot light technology.

3   tatupu70   2013 Oct 30, 3:38am  

CaptainShuddup says

...and don't forget all of the HR departments nationwide looking for ways to disqualify the most capable candidates in lieu for those who knows the secret Liberal resume handshake.

It's not the handshake. It's the paper stock that you use to print your resume. Liberals have a very special color and grade. If you don't use it then you have no chance.

4   casandra   2013 Oct 30, 3:40am  

The working class slobs are now slaves to those on benefit plans.

And now that the benefit freebie class are a voting majority, they will take more and more from the too busy slaving and working class pathetic slobs to notice or even read this !

5   zzyzzx   2013 Oct 30, 5:51am  

Robert Sproul says

"There were 108,592,000 people in the United States in the fourth quarter of 2011 who were recipients of one or more means-tested government benefit programs, the Census Bureau said in data released this week. Meanwhile,according to the Census Bureau, there were 101,716,000 people who worked full-time year round in 2011. That included both private-sector and government workers."

Obligatory:

6   Heraclitusstudent   2013 Oct 30, 6:21am  

In other an post: "Nearly 50% Of House Sales Now Cash"
(decreasing aggregate debt).

Thanks to the crisis, households are not doing that bad, debt wise:

7   Dan8267   2013 Oct 30, 9:43am  

zzyzzx says

Obligatory

Yeah, I'm sure there are black welfare queens costing you a dollar or two a day in taxes, but the real welfare queens (defense contractors, mercenaries, Wall Street, financial firms, big banks) are costing you tens of thousands of dollars in taxes and over a hundred thousand dollars in lost productivity and opportunity each year.

8   Robert Sproul   2013 Oct 30, 10:58am  

Dan8267 says

real welfare queens (defense contractors, mercenaries, Wall Street, financial firms, big banks)

The Reagan Welfare Queen is foundational dogma to the self-righteous Right.
I can't find the numbers but the R's just upheld the tax advantages of the for-profit colleges to the tune of 53b if I remember right.
At the same time rolling back food stamps to the tune of 40 something billion.

What happens at these cheese-ball colleges is heart-breaking, state sponsored, class warfare almost as egregious as the War on (some) Drugs.

9   freak80   2013 Oct 31, 4:22am  

Dan, thanks for that. +1.

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