One Third of Americans a Paycheck Away from Homelessness … Even Though Half of All Households Receive Government Assistance
The Wall Street Journal notes:
Nearly half, 48.5%, of the population lived in a household that received some type of government benefit in the first quarter of 2010, according to Census data.
And yet – as NakedCapitalism notes – One Third of Americans One Paycheck Away From Homelessness.
What Does It Mean?
We are in very tough times.
As I noted last year:
Food Stamps Replace Soup Kitchens
1 out of every 7 Americans now rely on food stamps.
While we don’t see soup kitchens, it may only be because so many Americans are receiving food stamps.
Indeed, despite the dramatic photographs we’ve all seen of the 1930s, the 43 million Americans relying on food stamps to get by may actually be much greater than the number who relied on soup kitchens during the Great Depression.
In addition, according to Chaz Valenza (a small business owner in New Jersey who earned his MBA from New York University’s Stern School of Business) millions of Americans are heading to foodbanks for the first time in their lives.