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Archive for December, 2020

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The political games of the billionaires and their political representatives are afoot and quite noticeable, if one cares to look. Did anybody notice over the last several months that Republican Senate Majority leader Mitch McConnell made it abundantly clear that he was not going to consider a stimulus package of more than $500 billion while House Democratic leader Nancy Pelosi was looking at a minimum of $2.2 trillion.

President Donald Trump tried to negotiate something in the middle since he had to placate both. Now that Trump is soon to be out of office, McConnell and Pelosi are looking at a $900 billion package. They put Trump in a hard squeeze for months, and both made certain he was not going to get a new stimulus deal that might help him win reelection. McConnell and Pelosi proved they are different sides of the same coin; they’re corporatists and globalists and controlled by billionaires. They put their desire for political power ahead of the welfare of millions of American citizens who are unemployed because of Covid-19. The terms of the March 2020 CARES Act are due to expire the day after Christmas. People will be evicted from their homes by the millions, while millions will lose their unemployment insurance, and all Pelosi and McConnell cared about for the last several months was increasing their political capital at the expense of everybody but the billionaires who control both of them.

Meanwhile, the U.S. Census Bureau reports that “More and more Americans are going hungry as the pandemic continues to spiral out of control and government aid dries up, with children bearing the brunt of the hardship.

More than 27.3 million or 12.7% of Americans — 17.5% among households with children — reported they either sometimes or often did not have enough to eat in the last week, according to new data this week from the U.S. Census Bureau that polled people from November 25 to December 7. That’s the highest level dating back to the last week of April when the Census survey began.”

Even before Covid-19 struck, according to a 2017 CareerBuilder survey, “78 percent of U.S. workers live paycheck to paycheck to make ends meet (up from 75 percent a year earlier), and nearly one in ten workers making $100,000+ live paycheck to paycheck. More than half of minimum wage workers say they have to work more than one job to make ends meet, while nearly three in four workers say they are in debt today. “A quarter of workers (25 percent) have not been able to make ends meet every month in the last year, and 20 percent have missed payment on some smaller bills. Further, 71 percent of all workers say they’re in debt — up from 68 percent” in 2016. “While 46 percent say their debt is manageable, more than half of those in debt (56 percent) say they feel they will always be in debt. It should be noted that 18 percent of all workers have reduced their 401k contribution and/or personal savings in the last year, more than a third (38 percent) do not participate in a 401k plan, IRA or comparable retirement plan, and 26 percent have not set aside any savings in the last year.” 81 percent of workers “have worked a minimum wage job, and 71 percent of them were not able to make ends meet financially during that time — more than half (54 percent) had to work more than one job.” According to a study by the United States Federal Reserve Bank, 61 percent of adults could pay for an unexpected expense of $400 with cash, savings, or a credit card they could pay off the following month. 27 percent would need to borrow or sell something to pay the expense, and 12 percent could never cover it. This was all before Covid-19.

If you think things were bad for the middle class in 2019, it surely has got to be worse for them nowadays. Below are some other statistics that place things in perspective, and all of these were calculated before Covid-19.

As of 2020, the average working citizen in the USA no longer could afford to raise a family on his or her yearly salary, demonstrating how badly off the middle class has become since 1980. In 1985, a middle class male had to work thirty weeks in order to pay the $13,227 it cost for housing, healthcare, transportation and education. By 2018, the average cost of those four items had risen to $54,441, and it took a male head-of-household fifty-three weeks to pay for them. This stark reality was even worse for female heads of households. Women had to work forty-five weeks to pay for the same things in 1985, but it required sixty-six weeks to earn them in 2018. By 2018, both male and female head-of-households had to work more than a year to pay for a year’s worth of those four items.

There are many reasons why millions of middle class people are in such dire straits; trade agreements, for example, have exported middle class jobs by the millions. Pelosi and McConnell supported every one of these boondoggles. This is why they are different sides of the same coin. Meanwhile, the fifty richest billionaires are worth as much as the poorest 165 million Americans. Both Pelosi and McConnell have worked hand-in-hand to ensure this outcome.

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