Report: Most Americans Glum on Financial Progress »

Posted By not2needy 1 year, 2 months ago in Business & Finance

Offering the gloomiest assessment of personal economic progress in close to half a century, a new survey has found that most Americans think they have not made economic progress over the past five years, as their incomes have stagnated and they have increasingly borrowed money to finance their lifestyles.

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    not2needy1 year, 2 months ago

    FTA:

    As many Americans struggle with declining housing values, increasing food and energy prices and growing unemployment after a long period of flat wages, well over half of respondents said they are either losing ground economically or are stuck in the same place, according to the report released today by the Pew Research Center. Only four in 10 said they have moved forward in the past five years -- a record low, Pew says, and far off the record 57 percent who in 1997 said they had moved forward in the previous five years.

    Pretty bleak picture.

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    engineer1 year, 2 months ago

    What progress?!!

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      texangelwings1 year, 2 months ago

      When it costs more to live than people can now earn, it can get depressing. The disparity between the haves and the have-nots is getting wider and was one of the reasons for the great depression of 1929.

      Some good comments above, thanks to all!

      Thanks not2needy!

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      Spadecaller1 year, 2 months ago

      Those of us who are on a fixed income or who are disabled and receiving SSD, we have been hit real hard. These are hard times. Without a sufficient cost of living increase for many years and with the increased cost of food and gas, we are having tough time keeping food on the table.

      Shopping for food has become a depressing task. We have given up eating foods that we used to be able to afford regularly. I'm diabetic and get not eat too many carbohydrates, which tend to cost less.

      It is sad to see that we have followed in the footsteps of the former Soviet Union. I used to think about what it cost to buy a piece of fruit in Russia -- back in the 70's and 80's. Now, the cost of an apple or a tomato, a loaf of bread, flour, ... it's insane. It's shameful.

      I can't even think about this subject too long because it sickens me. But, thanks for posting a story that needs to be addressed openly. Millions of Americans are hurting financially and the worst has yet to come.

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      icono11 year, 2 months ago

      Well n2n it seems that this whole mess could get a whole lot worse before it ever gets the least bit better.

      & rdy2rck I also know some people on SSI making a good living on the side selling their prescription drugs to 'select individuals' and doing so called 'odd jobs' for certain people.

      I respect your sense of God and how to do good for other people in the name of God. Very few people achieve that in their religion.

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      Ryan8111 year, 2 months ago

      didn't know that before. Really good news, thank you

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