Almost Half Of Americans On Financial Brink
How many Americans are on the brink economically? Almost 44% of Americans will wind up in poverty if they lose their incomes because they don’t own enough assets or have savings that could be their safety net.
The nonprofit Corporation for Enterprise Development (CFED), which reported the figure, had more bad news: almost 33% of Americans don’t even have a savings account.
The worst figures came from Southern states. The area bounded by North Carolina to the north, Florida to the south, and Arkansas to the west was rated “liquid asset poor,” which was the bottom category.
CFED President Andrea Levere succinctly commented on exactly how difficult the situation was for these families: “It’s only when you have those basic needs satisfied that you then can think, ‘How do I make sure I have the best education for my children? How do I make sure I have the skills I need to be more competitive in the workplace?’” -By William Bigelow/Breitbart/February 1, 2013
How many Americans are on the brink economically? Almost 44% of Americans will wind up in poverty if they lose their incomes because they don’t own enough assets or have savings that could be their safety net.
The nonprofit Corporation for Enterprise Development (CFED), which reported the figure, had more bad news: almost 33% of Americans don’t even have a savings account.
The worst figures came from Southern states. The area bounded by North Carolina to the north, Florida to the south, and Arkansas to the west was rated “liquid asset poor,” which was the bottom category.
CFED President Andrea Levere succinctly commented on exactly how difficult the situation was for these families: “It’s only when you have those basic needs satisfied that you then can think, ‘How do I make sure I have the best education for my children? How do I make sure I have the skills I need to be more competitive in the workplace?’” -By William Bigelow/Breitbart/February 1, 2013
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N.C. Bill Would Ban Welfare Recipients From Lottery
North Carolina lawmakers are drafting legislation that would make it unlawful for vendors to sell lottery tickets to customers they know are bankrupt or on welfare.
State Rep. Paul “Skip” Stam told ABC11 that in obvious cases, such as when customers pay for groceries with food stamps, they shouldn’t be allowed to buy lottery tickets at the same time.
The new measure would affect more than 1.7 million North Carolina residents who are currently on food stamps.
“We’re giving them welfare to help them live, and yet by selling them a ticket, we’re taking away their money that is there to provide them the barest of necessities,” Mr. Stam said.
Some lottery critics claim the lottery is a tax on the poor, the uneducated and the elderly, who are more likely to buy lottery tickets. –By Jessica Chasmar/Washington Times/January 27, 2013
North Carolina lawmakers are drafting legislation that would make it unlawful for vendors to sell lottery tickets to customers they know are bankrupt or on welfare.
State Rep. Paul “Skip” Stam told ABC11 that in obvious cases, such as when customers pay for groceries with food stamps, they shouldn’t be allowed to buy lottery tickets at the same time.
The new measure would affect more than 1.7 million North Carolina residents who are currently on food stamps.
“We’re giving them welfare to help them live, and yet by selling them a ticket, we’re taking away their money that is there to provide them the barest of necessities,” Mr. Stam said.
Some lottery critics claim the lottery is a tax on the poor, the uneducated and the elderly, who are more likely to buy lottery tickets. –By Jessica Chasmar/Washington Times/January 27, 2013
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