Truthout - A recent Bankrate poll found that almost two-thirds of Americans didn't have savings available to cover a $500 repair bill or a $1,000 emergency room visit.
A related Pew survey concluded that over half of U.S. households have less than one month's income in readily available savings, and that all their savings -- including retirement funds -- amounted to only about four months of income.
And young adults? A negative savings rate, as reported by the Wall Street Journal. Before the recession their savings rate was a reasonably healthy 5 percent.
Between 2007 and 2013 median wealth dropped a shocking 40 percent, leaving the poorest half with negative wealth (because of debt), and a full 60% of households owning, in total, about as much as the nation's 94 richest individuals.
People of color fare the worst, with half of black households owning less than $11,000 in total wealth, and Hispanic households less than $14,000. The median net worth for white households is about $142,000.
Food costs have doubled since 1978, housing has more than tripled, and college tuition is eleven times higher. The cost of raising a child increased by 40 percent between 2000 and 2010. And despite the gains from Obamacare, health care expenses continue to grow.
Median household income has been going down since 2000, with the greatest drop occurring since 2009, as 95 percent of the post-recession income gains have gone to the richest 1%.
The jobs that kept the middle class out of poverty -- education, construction, social services, transportation, administration -- have seen a decline since the recession, especially in the northeast. At a national level jobs gained are paying 23 percent less than jobs lost.
The lowest paid workers, those in housekeeping and home health care and food service, have seen their wages drop 6 to 8 percent (although wages overall rose about 2 percent in 2014).
Over half of public school students are poor enough to qualify for lunch subsidies. There's been a 70 percent increase since the recession in the number of children on food stamps. State of Working America reported that almost half of black children under the age of six are living in poverty.
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