More Americans Are Worse Off Since Recession

A new Federal Reserve survey finds more American households say they are worse off rather than better five years after the recession.

Wall Street Journal: “The report, released for the first time on Thursday, found 34% of households said they were ‘somewhat worse’ or ‘much worse’ financially in 2013 compared to 2008. Only 30% reported being better off to some degree.”

The report notes that, considering that respondents were asked to compare their incomes to 2008, during the depths of the recession, “the fact that over two-thirds of respondents reported being the same or worse off financially highlights the uneven nature of the recovery.”

“Despite relatively few Americans feeling their finances are improving, most appear to be faring relatively well. The survey found 23% reported ‘living comfortably’ and 37% said they were ‘doing OK.’ Less than 40% said they were ‘just getting by’ or otherwise struggling.”

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    It’s truly sad how disconnected both political parties are from mainstream America. This is just but one issue out of so many other issues affecting us. The situation with the more than three million unemployed families, still without an unemployment extension bill, is a critical issue, that both parties seemed to have walked away from and forgot about. Unfortunately, for these financially ruined families, it’s not possible to have that luxury. These workers, whom many are “older workers”, have lost everything, while waiting for the senate to finally pass an extension bill to help them recover from 8 months without benefits, and means to pay credit bills. Now, many have become financially ruined, and deep in debt. When the average American is only one or two paychecks away from being able to sustain themselves, you can imagine how much 8 months of no payments can do to a family. When the Congress approves Billions of dollars for the Ukraine, and other countries, and commits our children to another term in Iraq, we back home here, are having to go homeless and hungry. Our government can’t even take care of our veterans from the last war. But I’m sure the senators and congressman receive the very best healthcare, and perks, and salary, that the average citizens could only dream of. We Americans have finally become the “servants” of our so called “Public Servants’. It’s time we change that in the coming elections.

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