78% Of US Workers Are Living 'Paycheck-To-Paycheck' & 71% Of Them Are In Debt

Tyler Durden's picture

Authored by Michael Snyder via The Economic Collapse blog,

Are you living paycheck to paycheck?  If so, you are just like most other hard working Americans.

As you will see below, 78 percent of full-time workers in the United States say that they are living paycheck to paycheck.  That is the highest figure ever recorded, and it is yet more evidence that the middle class is under an increasing amount of stress The cost of living is rising at a much faster pace than our paychecks are, and more families are falling out of the middle class with each passing month.  Unfortunately, this is something that the mainstream media really doesn’t want to talk about these days.  Instead, they just keep having us focus on the soaring financial markets which are being grossly artificially inflated by global central banks.

When I came across the numbers that I am about to share with you I was actually quite stunned.  I knew that things were not great in “the real economy”, but I didn’t expect that the number of Americans living paycheck to paycheck would actually be rising.  But that is precisely what a brand new survey that was just released by CareerBuilder is saying…

Seventy-eight percent of full-time workers said they live paycheck to paycheck, up from 75 percent last year, according to a recent report from CareerBuilder.

 

Overall, 71 percent of all U.S. workers said they’re now in debt, up from 68 percent a year ago, CareerBuilder said.

 

While 46 percent said their debt is manageable, 56 percent said they were in over their heads. About 56 percent also save $100 or less each month, according to CareerBuilder.

The first thing that we want to note about this survey is that it only includes full-time workers.  So the unemployed, part-time workers, those that work for themselves and those that are independently wealthy were not included.

The second thing that we want to note is that these numbers have gotten worse since last year.

That certainly does not fit with the narrative that we are being fed by the mainstream media, but it does fit with the reality that most people are living on a daily basis.

Most Americans work extremely hard, but they can never seem to get ahead.  Most of us are in debt, and a couple of weeks ago I wrote about how the elite use debt as a tool of enslavement.  As we work endless hours to “pay the bills”, we are steadily enriching those that are holding our debts.

In addition, the cost of living is steadily going up, and most U.S. families are just barely scraping by from month to month as a result.  Just a couple days ago I wrote about how Obamacare was causing health insurance premiums to skyrocket, and today I came across another example of someone that has seen their annual premiums more than double during the Obamacare era…

For some lower-income people in Obamacare, the rising premiums President Donald Trump has talked so much about will barely be felt at all. Others, particularly those with higher incomes, will feel the sharp increases when insurance sign-ups begin Wednesday.

 

Richard Taylor is one of the people on the wrong end. The 61-year-old, self-employed Oklahoman has meticulously tracked his medical costs since 1994. In 2013, he signed up for an Affordable Care Act plan for the law’s first year offering coverage to millions of Americans.

 

Four years ago, annual premiums for a mid-level “silver” plan to cover his family totaled $10,072.44. For 2017, they were $21,392.40—up 112 percent.

Who can afford $21,000 a year for health insurance?

I know that I can’t.

And rates are supposed to go up substantially again in 2018.  We must repeal Obamacare, and we must do it now.

In addition to financial stress, most Americans are also deeply concerned about the future of this country.  Just consider the following numbers from a poll that was released this week

Almost two-thirds of Americans, or 63 percent, report being stressed about the future of the nation, according to the American Psychological Association’s Eleventh Stress in America survey, conducted in August and released on Wednesday.  This worry about the fate of the union tops longstanding stressors such as money (62 percent) and work (61 percent) and also cuts across political proclivities. However, a significantly larger proportion of Democrats (73 percent) reported feeling stress than independents (59 percent) and Republicans (56 percent).

I certainly can’t blame the Democrats for being stressed out.  Donald Trump is in the White House and pro-Trump forces are taking over the Republican Party.  And if a large wave of pro-Trump activists goes to Congress in 2018, we are going to take this nation in a completely different direction.

That same survey referenced above also discovered that 59 percent of Americans consider this “to be the lowest point in our nation’s history that they can remember”

A majority of the more than 3,400 Americans polled, 59 percent, said “they consider this to be the lowest point in our nation’s history that they can remember.” That sentiment spanned generations, including those that lived through World War II, the Vietnam War, and the terrorist attacks of Sept. 11. (Some 30 percent of people polled cited terrorism as a source of concern, a number that’s likely to rise given the alleged terrorist attack in New York City on Tuesday.)

That number seems very strange.

Yes, I can understand that those on the left are very pessimistic now that Trump is in the White House, but this is definitely not the lowest point in recent history.

Have people totally forgotten the financial crisis of 2008?

What about 9/11?

The JFK assassination, the Vietnam War, the deep recession during the Carter years and the entire Obama era are also examples of very low points in recent history.

Yes, great challenges are coming, but for the moment the economy is relatively stable, much of the world is at peace, and at least Hillary Clinton is not in the White House.

There is so much to be thankful for, and if people out there think that this is the “lowest point” in recent American history, how are they going to feel when a real crisis comes along?

*  *  *

Michael Snyder is a Republican candidate for Congress in Idaho’s First Congressional District, and you can learn how you can get involved in the campaign on his official website. His new book entitled “Living A Life That Really Matters” is available in paperback and for the Kindle on Amazon.com.

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TheGardener's picture

My parents eat tons of those drugs and should have passed away long ago if those were the only problem of their larger attitude trending towards gluttony and worse. If I were to eat shitty "food" and as much of it as they do, I`d be dead within a year or so I make myself believe.

But luckily I still have them around at an age most of our other relatives having lived rather healthy lives did not even reach.

Do I tell them not to take a mouthful of prescription drugs 4 times a day ? Do I tell them it is no good for them to stuff themselfes

up with porky shit till their bellies swell ?

No , and not because I don`t care but human rats will survive on just about everything.  Maybe they had fabulous genes

and could have lived till a hundred years old but chose not to and swallowed drugs against "disease" called conditions they were

never going to have being confronted with.

 

But each to his own, who wants to live forever and in an decaying body ? Guess their academic backround and interests is what is

keeping them alive, it is all in the mind.

 

 

 

Lore's picture

Your post strikes me as either deeply inside-the-box, rationalizing and fatalistic, or simply (and more likely and very glibly) argumentative, dismissive and insincere.

You admit that your parents are unhealthy as a direct effect of their lifestyle.  I've seen the dramatic difference that effort can make to your health, especially among the elderly, so don't give me or anyone else that cutesy spin and expect to be taken seriously. 

FredFlintstone's picture

I agree. A dotor got me on that shit for about two weeks. This was maybe 80 to 10 years ago. I had been on them and went to play some golf. Could not reach any of the greens with the normal clubs, started feeling weak and drug myself home. Did a little research of how toxic statins could be. Threw the bottle away and have not been to the doc since.

Ron_Mexico's picture

the way I understand it under Trump they already aren't enforcing the mandate. The fines are "voluntary" at this point. However, this could come back to seriously bite me in the ass if a Dem gets back in the WH.

Tetres's picture

Recent Havard study found that US workers waged during the past 25-years have not kept pace with inflation, worst yet when accounting for inflation real wages are down 27%, again worse yet employer paid benefits (health, dental, education, 401K contributions are down 62% during the same period...this is a travesty; They found that 77% of Americans are 4-6 paychecks away from bankruptcy  

GlassHouse101's picture

All just paving the way for  UNIVERSAL . . . . BASIC . . . . INCOME. . . .  embrace your master, or starve.

Arnold's picture

I am not going to buy many McMansions on UBI.
Maybe that mud hut that someone mentioned.
A rental, with plumbing indoors, would be too damn high.

Vilfredo Pareto's picture

Don't knock mud huts.

 

Wattle and clay.  Or however you spell it.  Check out you tube videos.  Pretty fancy.  If you ain't got no job you got plenty of time on your hands

pitz's picture

Too many leeches in government and the financial sector have been allowed to predate on working people.  

 

Low rates have produced the best of times for the financial and government types, who have been relieved of the high cost of the debt service costs associated with their operations.

topspinslicer's picture

Not true they are simply underground undocumented bitcoin millionaires

Taffy Lewis's picture

How do people go into debt against their will?

Work part-time jobs and go to a juco before going to university and going in debt.

Buy a serviceable, running older car instead of a new SUV (plates & insurance much cheaper too).

Eat at home instead of going out to eat at a restaurant 5 nights per week.

STOP SPENDING $200+ A MONTH ON STUPID PHONES!

GoyimUprising's picture

I highly recommend a Yamaha WR250R. It gets 70 mpg, costs about $100 or less a year in insurance and goes on and off road. Cars are a money pit.

JibjeResearch's picture

The best thing for me... was

1. Went to Junior College for 2 years

2. Went to the cheapest 4 years Uni.. in SoCal...

NO Debt after graduation ...

Young people should do the same...

GoyimUprising's picture

I make $11 an hour, have excellent credit, about $20k in available credit with a 0% utilization rate and about $4k in cash. I rent a room and ride a bicycle and haven't been to the doctors in like 20+ years.  Sadly, I am better off than most. 

Klatschman's picture

well done and don't use that credit line.

pods's picture

But if he buys $20k in bitcoin right now.................

JibjeResearch's picture

Just say no to BTC... it's over priced...

Unless.. you buy it to invest in other awesome ICO...

Ethereum, Ripple look good...

CJgipper's picture

ICO's are a scam.  ETH and XRP are indeed on sale today.

JibjeResearch's picture

I can't convince you...

Do what you like...

Crypto is where my wealth came from...

But BTC is a no no for me... others crypto looks good... for now..

Ron_Mexico's picture

in the long run, crypto will be shown not to be real wealth.  This is because in classical economics wealth derives from things like farming, mining, manufacturing, and services.  It's hard for me to see the value add of the cryptocurrency, although I'm sure it's a Godsend for those who want to move money anonymously.  If I wanted to just turn the quick buck, I'd just start growing pot.

JibjeResearch's picture

I agree with you....

but crypto is making money....

Money first... logical.. classical... second..

at least for now anyway...

JibjeResearch's picture

My friend... you are awesome..

Put your saving ... in TEZOS when it comes out... you'll not regret it...

rf80412's picture

Careful, now.  Working manual labor, he's damn lucky he hasn't already been replaced by an illegal.  One word the boss doesn't like - such as "raise" - and he will be.  The market works.

Ron_Mexico's picture

gotta be honest, dude. Unless you never went to doctors as a child, you are not makin' enough money. It's true enough you can't spend (or borrow) yourself rich, but sometimes you can't save yourself rich, either.  You need to take some computer security classes, bro.  Get out there and get after it.  This is my positive message of hope, growth, and opportunity.

GoyimUprising's picture

I'm not too concerned about money. I have many skills, but don't feel like pimping myself into a fraudulent system. Right now I do manual labor and an honest days work. 

Nigger Rich's picture

take the 20k and put it on the rams this weekend. you'll double your money. then I'll give you other picks and you'll have 100k by thanksgiving.

lasvegaspersona's picture

You could be making $7000 a month...keep reading the comments, many such opportunities are presented here.

WTFUD's picture

Stress? I thought most folks were comfortably numb. What's the Plan Stan because how do you turn around a malfunctioning eCONomy when 70%+ are the Marks and this figure needs to increase to keep this Gig Alive?

InnVestuhrr's picture

USA is doomed to self-destruction along with all so-called "developed" countries, ie Europe, Australia, etc due to fatally broken societal and government structures.

The ONLY things the governments in these countries do well are:

1.IMPORT poverty, including islamic-cult worshiping primitive savages

2. confiscate the earnings of the competent, motivated and successful

3. Spend and waste astronomical amounts of money and accumulate impossible debts.

If I were young I would move to China and possibly Russia (severe local govt corruption), start businesses there, and move my profits to Switzerland.

homebody's picture

They just do not understand that the toys, vacations, phones, big houses, eating out, no gardens, new vehicles, ... on high rate credit, will sink most of them.  They want it all NOW, and the scammers are out in force - bad credit, no problem, we approve anyone that can fog a mirror.  It used to be that the weekly entertainment thrill was the Sunday drive.  Tent camping at the nearby lake was the vacation.  No sympathy from here especially for all that voted for more free shit.   

govtsucks's picture

Rent to own is the worst. Costs about $2000 to buy a $700 phone.

RozKo's picture

They will find out when the Ponzi finally falls and they realize the bankers won't give them a debt jubilee...Slaves 

Klatschman's picture

All my working life, most around me bought too much on credit and not what they could afford or often not what they needed. It is our insatiable consumption attitude that makes us 'poor'. We reap what we sow.

homebody's picture

Retirement for many will be a cardboard box and a diet of cat food - the cheap stuff.

FreeShitter's picture

According to Drudge we are having an economic boom!

Private sector jobs boom in October; Construction surge

Year-to-date job cuts at lowest level in 20 years

Manufacturing pops in the Midwest

American Dream is back: 82% have 'achieved' or are 'on way to achieving'

homebody's picture

It is the personal and national debt - NOT the economy.  Yes, the dream is back for the frugal and careful spenders. 

JibjeResearch's picture

what not to like..?

If you plan right... take some chances with crypto..., it could be good..., no dog food/cardboard boxes for me...

At least not for now anyway eheheh

 

QQQBall's picture

some of the cheaper offshore retirement options/countries are getting tougher; and some have reediculously priced real estate.  The expat tsunami should really increase in the next recession. The gubbermint is willing to send illegals, who used fake SS numbers to work here ,SS bennies even to their country of origin (ie, Messyko). Watch when all the SS checks start going offshore, the gubbermint will crimp that somehow. Retireees help stabilize the economic base - they are not big spenders, but they do get monthly SS checks.

Vilfredo Pareto's picture

Yeah.   I did that too.  Me of all people.  But it was a late in the game thing.

 

I blame my first midlife crisis lol

govtsucks's picture

Overall, 71 percent of all U.S. workers said they’re now in debt, up from 68 percent a year ago, CareerBuilder said.

While 46 percent said their debt is manageable, 56 percent said they were in over their heads. About 56 percent also save $100 or less each month, according to CareerBuilder.

71% in debt and 56% saving $100 or less. The numbers don't add up. My guess is that the "$100 or less" is actually mostly zero, because you would have to be a moron to save money if you're in debt.

 

krispkritter's picture

You have to be a moron to try and pay that debt down.  Stop paying, it will go into collections and if you want your 'credit' back, you'll pay .30 on the dollar when they write it off a year or less later.  Why support the banksters?  They fucked the system to begin with and forced you into that position in all likelyhood, fuck'em right back. Take the money you can save and buy physical. 

homebody's picture

And we wonder what happened to our morals and ethics - blame someone else, like the banks.  You idiots did it to yourselves and now you don't want to pay the piper.  There should still be debtor's prisons.  

Ron_Mexico's picture

yeah, talk about "moral hazard;" we're afflicted with moral leprosy . . .

homebody's picture

Yes, and self destruction on drugs or booze.

JohnG's picture

Heavy drinking helps.....

krispkritter's picture

Sure doesn't hurt at this point...

ToSoft4Truth's picture

If any of us stop producing income, eventually we'll be broke.

 

I'm living year to year right now. 

FORD_FIESTA's picture

YA!!  I'm living Beer to Beer right now!

Yaaaaa, TESLA!   Fuckers.

brushhog's picture

Most people I know are in that boat and ALL of them put themselves there. They drive brand new cars/trucks that get cycled out every 2-3 years, they own or rent above their means, they spend their weekends shopping/drinking/partying, they go away to exotic vacations every year ( and have never been to the beautiful parks and sites right in their own area ), they have student debt for degrees that they dont even use, they have cableTV/iphones/xbox etc, changing their wardobe every year or two, closets full of clothes/shoes/jewelry. Etc on and on

And when you ask them what they want, its always a thing. Some "thing" that they have to buy...a new car...a new boat...a new Iphone, whatever. Its some "thing" and when they get it they are happy for like 5 minutes and then they go back to their default misery when they realize that they're in debt and cant stop working, ever.

Charles Dickens said it best...""Annual income twenty pounds, annual expenditure nineteen [pounds] nineteen [shillings] and six [pence], result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."