THE AMERICAN DREAM IS BECOMING A NIGHTMARE …
A whopping 26 million Americans are “too poor to shop” according to a new survey of consumer trends.
Britt Beemer – CEO of America’s Research Group – told The New York Post this week that his organization had uncovered some “scary” developments with regard to low-income U.S. consumers over the past two years.
“The poorest Americans have stopped shopping, except for necessities,” Beemer told reporter Lisa Fickenscher.
According to Beemer, income growth has failed to keep up with rising expenses – notably higher medical costs. In fact 50 percent of Americans haven’t seen salary bumps in the last five-to-seven years – while 28 percent have seen their take home pay decline due to higher health care costs.
Yeah … so much for that “affordable care” U.S. president Barack Obama promised.
And so much for that “recovery.”
“It’s scary when you start to see things that you’ve never seen before,” Beemer told Fickenscher. “People are so pessimistic about their future.”
They should be …
We’d love to be the bearer of good news, but the bottom line is the fundamentals of the American economy remain weak – and are unlikely to improve absent new leadership in Washington, D.C.
We’ve recounted the basic problems time and again, but for those of you keeping score at home they include: Unrestrained deficit spending, crony capitalist trade deals, the perpetual incentivizing of dependency, wide open borders, incessant global warmongering and ill-conceived money-printing.
Oh, and of course the imposition of the aforementioned “Obamacare.”
“Our choice is simple,” we wrote earlier this year. “Reject politicians of both parties who embrace these things, or continue voting for them … in which case we should expect things to continue getting worse.”
This disappointing data on the plight of low-income Americans should be another reminder of the urgency of the situation.