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US Spending: Typical American? Does He Exist?

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Does the average American actually exist? The guy that the Bureau of Labor Statistics basis its figures on. It seems that the fictitious character is out there somewhere being hunted down; or perhaps the man was shot down long ago in some past that the country invented for itself in the hope of spinning another yarn about how rich the Nation was. The only thing that the ‘typical American’ does it make most people in this country realize that they are being left far behind when it comes to spending in an ever-growing gaping gap that we have fallen into and that we call ‘income inequality’. The ‘typical American’ hasn’t fallen into that hole because the Bureau of Labor Statistics is looking at figures that are outside of the bottomless pit that is most people’s daily lives.

The Bureau of Labor Statistics has been churning out its figures for the past thirty years showing us how the ‘average American’ spends his money.

• Today under 40% of the lowest quintile in the USA owns a home. 
• But, 90% of Americans in the top quintile own one or more.
• Therefore the top quintile spends an average of $21, 000 more than the lowest quintile.
• It also spends some $13, 000 more in transport costs.
• More than 50% of income of lower-income families goes on housing and transport costs in the USA today. 
• Overall, the figure works out to roughly 30% of all budgets combined in the household going to housing costs. 
• The lowest quintile also spends as a percentage of its budget double what the richest quintile spends on food.
• The top 20% of people in the US spend more on eating out at restaurants as well as entertainment and vehicles.
• The top 20% earn an average of $247, 000.
• The lowest quintile earns an average of $17, 500 per year, but their expenses amount to an average of $24, 800.
• They are therefore in debt more often than the top quintile.

So, where do you fit in here? Are you just an average Joe, the guy that looks, acts, eats, sleeps and walks like everyone else in the country? The fictitious guy…is he out there?

The average American:

• Earns $62, 000 per year.
• They spend 26.5% on housing.
12% of income goes on transport.
• Gas costs 3.4% of the average budget.
• Healthcare costs 5% of the household budget. 
• 9.8% goes on eating; and 40% of that sum goes on eating out at restaurants and buying take-aways.
4% goes on entertainment and 2.7% goes to clothing and shoes.

Oh! Forgot to say that the average American according to the Bureau of Labor Statistics is a 49-year-old man. Sorry, for all the women out there and sorry if you are not that age: you’re just not the archetype of the Bureau of Labor Statistics (you can thank your lucky stars, probably). The average American has been churned out of the Bureau’s computer program, hallmarked with the ‘Made-in-the-USA’ sticker, stamped and packed to be sent off somewhere overseas, probably.

But, in comparison with other countries around the world, the American people are spending less money on food than other countries such as the UK, Japan or Canada. They spend more than those countries on housing. The Average Joe might not be spending money on food but, he’s certainly wasting it. Food waste in the US stands at a loss of $165 billion in the country today on average. That’s over $500 per person and per year. While spending that goes on housing is nearing 30% of budget on average in the US, in the UK it represents some 24% of total budget. Japan’s average figure amounts to 21%. Is that a sign that the US housing market is over-inflated and ‘bubblesque’?

We still have enough money to play with though apparently. We spend $2.3 billion a year in tattoos. Then$66 million getting them removed. We spend almost as much on our lawns ($40 billion) as looking after the kids ($47 billion). We spend over $10 trillion every year (probably on stuff we don’t need).

But, that average Joe: he out there?

Originally posted: US Spending: Typical American? Does He Exist?

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Sat, 04/12/2014 - 02:50 | 4650407 ebworthen
ebworthen's picture

I sound like an average Joe other than being unemployed, having to sell my house, and currently cashing out IRA/401K to pay rent and utilities.

End the FED, restore the Constitution, and find that fucker Jon Corzine and put him in an orange jumpsuit already.

Fri, 04/11/2014 - 20:21 | 4649603 cynicalskeptic
cynicalskeptic's picture

Numbers don't add up.

bottom 20 totals on chart add up to about 55-56%, top 20 adds up to about 48%...... add housing at 26%  and you're at 82% for the bottom 74% for the top.....

Where are TAXES?

The bottom may be getting earned income and such but the top 20% are racking up a good 40% in Federal, State and local taxes....  in expensive places it's MUCH higher.  Hell... we're getting close to half OUR income.  The Very rich may be sheltering income like mad but the higher end wage slaves are getting killed.

Fri, 04/11/2014 - 19:58 | 4649538 AdvancingTime
AdvancingTime's picture

To get an income of 62,000 a year working 50 weeks at 40 hours each it would mean the average american joe makes $32 an hour. Not where I live in the Midwest. The government and the BLS get paid to put out stupid numbers that mean nothing!

Fri, 04/11/2014 - 18:32 | 4649336 yellowsub
yellowsub's picture

Of course they exist, a few ways to tell is they talk about how much debt they have or how they have to wait for a tax refund to buy a larger than normal purchase due to lack of savings or ability to save.

Fri, 04/11/2014 - 17:51 | 4649208 deerhunter
deerhunter's picture

Cliven Bundy hasn't paid grazing rights fees for multiple years as other ranchers have.  I am not a big government fan and I think I read that somewhere the US Federal govt owns 80 plus percent of the State of Nevada lands.  Ruby Ridge and Waco were out and out government slaughters but I have had the displeasure of an IRS audit and it isn't fun owing them money.  This is not about a desert endangered tortoise but having said all that,  if militias show up legally armed and the govt agents begin strong arming some more of those folks,  well,  the black swan may just come from road runner country.  I think really just a spark of some kind could send this country over the edge with the overall disgust of the levels of government run amok and bloodthirsty with power and control issues.  If you think federal agents won't fire on their own people or the military won't just look up some history.  

Sat, 04/12/2014 - 06:52 | 4650569 zipit
zipit's picture

I don't think any of us doubt the govt will fire on it's own.  They are itching to do it.  Can't wait to do it.

Sat, 04/12/2014 - 05:11 | 4650509 stacking12321
stacking12321's picture

the armed gang of thugs calling themselves the federal government ought to give up contol of those lands (80% of nevada) - the feds are not of, by, nor for the people, they do not represent the people, they are armed oppressors.

 

writeup about it in liberty blitzkreig:

http://libertyblitzkrieg.com/2014/04/11/why-the-standoff-at-the-bundy-ra...

and stefan molyneux on youtube:

https://www.youtube.com/watch?v=GQb0qJLhea8

Fri, 04/11/2014 - 17:46 | 4649187 adr
adr's picture

Average Joe is saying, "Fuck this working shit for $60k a year when I can go on welfare and sit on my ass making more. Plus I get to park closer to the door at Walmart."

The new American Dream is having a placard with a stick figure wheelchair hanging from your rear view mirror.

Fri, 04/11/2014 - 17:19 | 4649098 Uchtdorf
Uchtdorf's picture

Off Topic: Just wondering why we haven't seen any articles on Cliven Bundy here on ZH.

Militia approaching his ranch to support are having their guns confiscated.

Fri, 04/11/2014 - 17:07 | 4649051 Stuck on Zero
Stuck on Zero's picture

All money spent by Americans is wasted.  The government could spend it far more wisely.

 

Fri, 04/11/2014 - 16:51 | 4648973 Doubleguns
Doubleguns's picture

While spending that goes on housing is nearing 30% of budget on average in the US, in the UK it represents some 24% of total budget. Japan’s average figure amounts to 21%. Is that a sign that the US housing market is over-inflated and ‘bubblesque’?

 

Have you seen the size of those rabbit hutches in the UK and Japan. What is that price per square foot might be a better number to deal with. 

Fri, 04/11/2014 - 16:45 | 4648958 Duc888
Duc888's picture

 

 

• The lowest quintile earns an average of $17, 500 per year, but their expenses amount to an average of $24, 800.

 

....scratching my head here... hugh?

Fri, 04/11/2014 - 17:44 | 4649176 adr
adr's picture

If you make $17k you most likely get another $10k in some form of welfare, plus you don't pay any income tax. So spending more than you make is easy.

Fri, 04/11/2014 - 16:06 | 4648810 Doubleguns
Doubleguns's picture

I think he is in Nevada surrounded by agents. They want to make certain he does not make it out alive, Many hunters only one quarry. 

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