Why More Americans Are Being Pushed Into Poverty | CNBC Marathon
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- เผยแพร่เมื่อ 6 ก.พ. 2025
- CNBC Marathon examines causes of poverty in the U.S., including rising credit card debt and lifestyle creep.
37.9 million Americans are currently living in poverty, accounting for 11.6% of the total population. That’s despite the fact that America ranks first as the richest nation in the world in terms of GDP. Child poverty alone is estimated to cost the U.S. over $1 trillion based on the latest research.
More than half of Americans earning more than $100,000 a year say they’re living paycheck to paycheck, according to a report from PYMNTS and LendingClub. This may be a result of a sneaky behavioral phenomenon called lifestyle creep, which is when a person’s spending habits expand as their income rises. Almost half of Americans said they held a balance on their credit card because of an emergency expense, according to a September 2022 CreditCards.com survey.
Americans have accumulated a record-breaking $1 trillion in credit card debt. Despite rising costs and higher borrowing rates, a record 200 million consumers shopped over the Thanksgiving holiday weekend in 2023 according to The National Retail Federation. Explore how Americans' credit card debt ballooned past the $1 trillion threshold, and whether U.S. consumers can keep spending enough to keep a looming recession at bay.
Chapters:
00: Introduction
0:38 Why The U.S. Can’t End Poverty (Published March 2023)
14:47 Why Americans Can’t Keep Their Paychecks (Published January 2024)
24:32 How America’s Credit Card Bill Surpassed $1 Trillion (Published December 2023)
Produced and Edited by: Juhohn Lee, Charlotte Morabito, DeLon Thornton
Edited by: Dain Evans
Reporting by: Paulina Likos and Melissa Repko
Supervising Producer: Lindsey Jacobson, Jeff Morganteen
Graphics: Christina Locopo
Animation: Andrea Schmitz
Additional Editing by: Emily Rabbideau
Additional Camera by: Charlotte Morabito
Additional Footage: Getty Images
Special thanks to: River Fund
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Why More Americans Are Being Pushed Into Poverty | CNBC Marathon
What's crazy in the United States is that you can have a full-time job, be homeless, and the U.S. government will not consider you to be living in poverty because you make too much, yet you can't afford to rent, let alone buy a house.
That would be sacrilegious to Frump’s DOGEES. 😂
That is the exact position I am in. I have a full time job but I make too much for most/all assistance. Because of certain financial obligations, I cannot afford a car or anything of the sort. I am one of those people stuck in the middle of both having and not having. It feels strange sometimes being in this position.
What does that say from the gov't?
They don't care for its people.
@@Seetherenright here too.
The USA is a 4th World Country.
Oligarchy, lobbying, and corporate gaslighting. Saved you 30 minutes.
Lmao ty
yea but there's a cute girl..not getting that from your report
@@mgattini meh
Learn to properly manage your money.... the irresponsible always have someone to blame.
@@IproPvPyou can mange your finance as much as you want, if you aren’t making over 600k a year you are getting the short end the Stick for starters. If you can’t see that the game is set it the powerful favor idk what to tell you.
Funny how when people poor people get "free stuff" from the government, it's welfare or an entitlement, but when Corporations get money from the government, it's a "contract" or a "subsidy."
Corporations get money from the government
How so?
@@DavidEVogelgrants, incentives, tax breaks and tax write offs.
Welcome to the ass backwards MAGA cult. 😂
@@DavidEVogelBail outs and tax incentives. Duh! 🤡
@@DavidEVogelare you genuinely asking? I doubt it. If so, you could just simply do your researchZ
We’re living through the Great Depression 2.0, except advanced technology and manipulated government statistics are masking how bad the economy really is.
sounds very orwellian
This 100%. Fun fact, priced in gold housing costs have virtually not changed since 1950. In 1950: average house cost = 211 Oz of gold. In 2024: average house cost was 206 Oz of gold. Adjusted for the difference in average house size, housing costs have actually been cut in half. Prices haven't increased - we're just being paid in diluted currency. Reason wages don't keep up is because jobs base their yearly raises around the CPI which is half the real inflation rate (if not worse).
Nobody would be working in an actual depression. That would completely devastate like no one in this generation has ever seen in their lives.
the GDP also not reflecting what actual statistic. its only GDP for the rich
This is not exactly the Great Depression, its more like the Gilded Age 2.0 fused with the Great Depression on roids.
I’m a paramedic with a bachelors degree. I make $22 an hour and struggling to afford a small apartment. I can’t imagine how ppl are making it with less. And kids? How is anyone having children? I actually feel very lucky to even have a job right now. One thing I don’t see address often is that the middle class will often help others around them. You don’t often see that in those with exceptional wealth. You strengthen the middle class and you help America overall.
My life is in agony because it seems like I have no choice but to develop an extraordinary inferiority complex to my relatives. It seems like I have no choice but to develop an extraordinary inferiority complex to Bonnie and Terry Tipton of Las Vegas as well as Shawn and Jeremy Noone of Choctaw, Oklahoma, and their sons. My life is in agony in Las Vegas, Nevada every day. I was born in Michigan in the 1970's. I graduated from the University of Arizona in 1995 with a BS in mechanical engineering. I later graduated with an MBA from the University of Phoenix in 2001. Otherwise, in the 21st century, my life has felt like a disaster. That is how my relatives make me feel, and some other people. It is a life of agony. My only role in life is to hear how the above think unceasing, noble, pure thoughts and have perfect lives. I keep wishing someone could help me escape this situation.
Unless you are upper middle class or above, having kids almost guarantees you will be in poverty these days. Nobody wants to talk about that or warn people about it. Got to change the peoples thinking that having kids is always a great thing.
Get used to the fact that if something happens to you that you can very easily become homeless!
@@ChrisVink-b5b Try getting a job.
Probably why Americas are either putting off having children or going childless.
90% of Americans make less than 75K a year...which is even less AFTER TAXES. It costs 100K+ AFTER TAXES to make ends meet in major cities where most Americans live and where most job opportunities are located. Pretending Americans aren't working hard enough is a PURE JOKE. America's spending is ERODING THE BUYING POWER of the US dollar, but nobody wants to talk about that. Regardless if you improve your income, your money continues to LOSE VALUE each and every year.
I agree, the 'bootstraps' / 'just work harder' argument is outdated. My wife and I gross $150k and can't afford a house. It's ridiculous.
@@TheyRiseBand America doesn't want to downsize, nor address it's spending. It's destined to spend, spend and spend more trying to hold on to their #1 spot which is destroying their society on so many levels. It's okay to exist and have equal peers.
Instead of talking about the fact that our incomes have been capped since the 70s, you blame it on America’s government spending. You are ridiculous. @SkywalkerDavis
Also, money losing value is why your salary should increase in lieu of inflation.
@@GassedAfterTacos Government spending affects the money supply you ridiculous bozo, why WOULDN'T I ADDRESS that?
The number of Americans living in poverty is actually higher than calculated. They should use the salary needed to have a 2 bedroom apartment and a car (a living wage) as the level that defines poverty. The number of people living below that level is much higher than the ridiculous $29,950 for a family of 4.
Yep the way both parties want it. America needs more options. It’s like buying a dodge or a Kia while Americans want a Honda or Toyota.
If you're single, or even a couple with no kids, why would you need a two-bedroom apartment? Sure, it's nice to have, if you can afford it. But if you can't, it doesn't necessarily mean you're poor.
I’d also had this issue where Bernie messed up. He should’ve started a workers party years ago.
We’ve been living through a second Great Depression since 2020, government manipulated statistics are just obscuring how bad the economy really is.
@@GNMi79living in a spartan apartment subsisting as a wage slave isn’t prosperity either.
Every American should be fighting like hell for universal healthcare. It's unacceptable we aren't all covered.
It’s because it’s easier to let companies manage healthcare, government just subcontract that portion of their responsibility and saves money (no federal/state doctors, no federal hospitals, no federal drugs/supplies/warehouses).
So third parties absorb the cost and they offer the service, but without government control, which is why we have exorbitant costs on medical, and because there’s no oversight, companies can come into agreements (that’s why your can get flagged amongst insurance companies)… and over time, and the trillions of money they make per month, they have the leverage when dealing with government, all those donations, election campaigns, that’s just a form of bribery…
Another question is, whats the government doing with that money they save without dealing with the healthcare itself… I don’t know, I just get angry at these things. US is not what it used to be
I blame racism
But currently They are fighting for being the biggest asslicker of zionists. 😂😂
This is a country for companies and making money...not people.
Look at the stock buybacks and the Executive Level Compensation (not just the CEO) of the Health/medical insurance companies and the national/regional healthcare systems. All that profit, stock buybacks and compensation is what the American people are paying for instead of all that money going to actual medical care and services of people.
Do you know what hurts most? Having the resource to fight poverty but lacking the will from the government and leaders to actually help the people.
if anyone is hoping politicians are there to help the people, GL
Government and system was never their to empower the masses but it is their to rule and control the masses.
I like how half is a corporate media conglomerate trying to explain to everybody that the couple times they went out for drinks with friends is the reason they live paycheck to paycheck
Right the gaslighting is unreal 😂😂
Most people in USA lives very very stressful life. That is why alcohol sells so well in USA. To then say people live paycheck to paycheck because they go out for alcohol misses the point.
Most Americans don't live within their means.
@@francismarion6400because the average means is so little they go beyond that just to have a decent life.
Our economy is disgusting
Stop complaining and start working more because your God in tel aviv need more money
It's diabolical in the United States that there are people with full time jobs and are homeless. They can't afford to live in the city they work in. 😔
Thank the Wall Street investors and the evilness of capitalism
Our country is heading to a civil war and mass unrest except for the delusional idiots who pretend nothing is wrong in their big mansions and their selfish lives
we have plenty of housing, we just accommodated 10mln of new people in 3 years and gov paid for it.
@@KJJ782The U.S. government has absolutely no incentive to get rid of poverty and homelessness.
@ I know it’s a big business for them and non profits, millions of dollars are poured into the system. Just like the jail or prison system is big business, with private meals made for the prisoners, can you imagine, how they exploit the homeless and the prison population?
I'm getting OFF the rat race... Received a substantial pay raise with a new job and I'm changing NOTHING!--Not moving to a nicer place or buying a car. (I also dumped Verizon for a way cheaper alternative and canceled Netflix, ~$100/m saving). I will fill some pages in my passport instead!
wait was the rat race caused by always spending as much as you earned? that sounds stupid
I'm more interested in who you dropped Verizon for! I want to save money too!
Last year I sold my condo in the city made a huge profit and bought a house 45 min away for much, much, much cheaper, paid off my car, cancelled everything except one credit card, no takeout, no vacations and the wife and I are never happier living a much simpler life.
Not smart. Fill some pages in your investment portfolio instead. Filling pages in your passport IS changing something. It's lifestyle creep, exactly what they warned about in the video.
@@JakeKumarI moved to Mint but I live in a major city. Test the network in your area before switching. Works great for me but ymmv. I travel a ton for work and it works pretty much everywhere. 25 bucks a month is a steal.
This is why Americans aren’t having children anymore, too expensive, no hopeful future for children. This will haunt us in the future.
As a foreigner, when seeing just how much USA Education and Healthcare costs, I just cannot fathom how are they so expensive. I mean, costs of education and healthcare in my country are not exactly cheap either, but compared to US? I might just shoot myself if I ever get into medical emergency without Insurance in US, or Crippling student debt for university in US, that's how expensive they are to my mind.
In Italy, where I’m from , education is super cheap but taxes compared to the US are incredibly high. Nothing comes for free
I'm someone in the US that went to the doctor today after having avoided medical care for a long time. I just got insurance last year and feel like I have enough to spend on my 1 doctor appointment. I still haven't gotten the bill in the mail - they didn't tell me how much my visit costs yet. I'm praying it's less than $500. Living here is exhausting. Went to the grocery store, didn't even buy meat or cheese and spent over $100. My oil change cost almost $80 today. It's insanity.
Canada is a good blend of Italy and USA. Cheap colleges in every city, and expensive ones if you're so inclined. Good grades lead to grants that don't need to be repaid, and bad grades are 0% loans with a single course costing the equivalent of 2 days labour.
So 5 courses, 2 semesters per year, bachelor degree in 3-4 years your student loan is almost entirely living expenses. But the whole time you get healthcare completely covered no matter what. Taxes are "high" at 30% marginal rate for an average income, but min wage students actually get cash from the rebates on their loans so they pay no income tax at all plus get fronted the taxes that were collected wrongfully if working while in school.
Our system is a great balance, especially now with internet where there's no commute costs for remote learning, and you can study a class before signing up for it so that you you don't burn out trying to pack it all in to those ridiculously short time frames. Who has time to read 4 textbooks every 3 months and memorize the while working? It's absurd. No wonder so many grads are brain dead after finishing and don't remember anything they've learned.
We've really lost the focus and purpose of education, these days. Doing everything for money instead of doing what you're good at and spreading out the income for jobs that need to be done; that's not the way to live with less crime, addiction, anxiety or quality of life. It's not the best way to learn or gain wisdom and it's also not the best way to cultivate competent workers making people broke costs more to the system than shifting the tiered tax brackets over and closing loopholes.
On the other hand I don't believe it's everyone's right to just own a house and car by entitlement. Transit and affordable rent should be the expected accessible to anyone, though. Food, clothes, hygiene, the basics should all be affordable no matter what you do for a living imho.
12:08 Robbing the young to pay for the elderly hasn’t solved the problem, just shifting the burden.
They also rob the retired who saved and invested their money, 42% in income taxes would have been 50% in California.
I find it crazy that “we” need to save more and spend less.., how about fixing the problem which is corporate greed and constant rising inflation
I didn’t see anyone complaining when all those free pandemic checks were coming in. Maybe save some for a rainy day, and stop having multiple children when people can’t take care of one.
@@SomeDude998people used those checks to pay off debt. That’s a fact. Most young people don’t have several kids and most paid off debt with their checks. Also, if you live somewhere where cost of living vs the wages don’t allow to save, it may not be possible. Also telling people to not have kids is dumb. Literally shows your ignorance. Countries and rich people are desperate to incentivize average people to have children… you know in every way except actually fixing anything or offering any wage stability or safety nets. What safety nets we do have are eroding.
@@bethlovesben 🤔 Countries are desperate to incentivize people to have kids, by not incentivizing them? Your argument makes no sense. Stop having kids that you can't afford, as he said.
Bingo
If you're a waiter at a small restaurant, how is it the greedy corporations fault that you're poor? They don't know who you are. Also, people working for those "greedy" corporations get paid a good amount, like Google, Meta, and Netflix. You can easily get a $100k+ jobs if you have a desirable skillset. The biggest issue I see is most people lack exactly that. Why would a company pay you $100k for a job that millions of people can do? That's simply not going to happen. People need to go out and train/study to better themselves instead of blaming the "greedy" corporations for their situation.
Why aren't the citizens protesting on the streets about this?
To tired to fight. No conviction, no will to live.
because if they did the government wouldnt give them anything at all.
Learned helplessness
Lots of propaganda in social media to make them think it's their fault, people have no economic power so they are scared to take any time off to do something. Frankly, Americans do not have it in them to start a fight with their oppressors.
Cause they give us sports to entertain/distract us 😅😅
Having Kids is a BIG reason many are in poverty.
Big reason why that person still has medical and assistance because of those children
Especially having kids too soon, before they can actually afford them. In fact, getting all kinds of things before they can actually afford them is what resigns a lot of people to a life of poverty. They want everything right now.
I'm married with one kid and 2 incomes make such a difference.
I don’t have kids I’m single not dating and self employed. I’m not making much but I am in a happier state than ever before.
Being an employee felt like I’m getting paid to be a verbal punching bag and interviews feel like “why should you be worthy of overworking here and underpaid for it” I also left my toxic family and arranged friends but at least I’m getting by just fine and I’m working on myself like skills to get a license to have a better self employment job. I’ll work but I ain’t gonna work for a company
Having kids early shouldn’t be a problem. If the system is to expensive for such things than it’s not peoples fault, it’s the system!
Don't worry, soon you'll be able to afford a nice beachfront property on the Gza Riviera.
Exactly my sentiment. Well said
Hey Tom, I paid off my loan. Where’s my home expansion?! lol
I got my tent ⛺️ ready to go 😉
Middle class is dwindling. Just rich and poor.
exactly. Alot of the people on the bottom do not care anymore.
@@matisyahup613because they are hopeless. It's very hard to get out of poverty
It's surprising to learn that 63% of workers cannot manage a $500 emergency expense. It's hard to imagine that so many people would have difficulty accessing that amount in an unexpected situation. Initially, I doubted the accuracy of the 63% figure, thinking it was too high. However, after conducting some research, I found it to be true. It's both shocking and disheartening to realize the extent of financial struggle among many individuals in the United States. I can't comprehend why some continue to have children when they are unable to support themselves.
Your last sentence is more valuable than all of these comments. It’s mind blowing to see single moms with 5+ children. A vicious cycle that sets children up for tough times.
"63% of workers could not cover a $500 emergency"
I don't believe this - can't they just put it on credit like they do for everything else lmao
If this is the truth - I can't comprehend the amount of people buying $20 lunches, whether it be fast-food, restaurants, or grocery store delis. I almost shat myself laughing so hard that a co-op near me, was charging nearly $7 for a 16oz container, a scoop of pasta salad.
Yeah because people have children on purpose. Okay. Now they don't even have the option to back out. But yeah, why would they do such a thing.
@@cs8712 I guess putting it on credit is exactly what not being able to cover means. But the English is not my native language.
This report is absurd. Claiming someone skips oil changes out of fear they’ll need new tires is a blatant lie. Neglecting oil changes doesn’t just delay maintenance-it destroys your engine.
Clearly you've never experienced poverty. Yes, maintaining an auto will keep it alive longer, but if the choice is between food and rent, car maintenance will not be on the agenda. You don't get that?
Thats why she broke, oil change is cheaper than replacing an engine
That’s a joke, a family of four CANNOT survive on an income of $24/hr. I make double that as a single individual and struggle. I barely go out with friends, and don’t splurge on frivolous things. Between my mortgage and car payments, plus other standard costs of living-there’s very little fiscal freedom.
A family of four in my state needs $250k income not to be struggling.
For record, I live in New England.
Why do you have a car payment? Pay cash
You said it - car payments, plural means you have more than one car payment. That is your budget mistake.
You got a mortgage? Wow you better off than 80 percent of us, most people can't even AFFORD to have a mortgage, they are forced to rent. Live out of their cars or live at home with their parents.
Tell me about what kind of car you have…
My parents were a family of 6 in California making 50k a year and we were ok in the 2000s and 2010s.
Keeping your money tied up in credit cards, car loans, and personal loans will keep you poor also. Not to mention streaming services as well.
Loans wouldn't be an issue if a law was passed to cap interest rates at 5% or less for all borrowers.
13:40 "The problem is there aren't enough chairs in the game." Kinda says it all.
I think it's one of the most accurate statements....
I make $25 and can't afford a studio apartment
That is so crazy. They have priced out so many people from buying homes and paying rent.
Try renting a room out of someone's house.
I have done this for years and saved money.
👍🏾
@@72Dexter72Manley72that's ok for the short term but people eventually grow and will want their own space.
@@duancoviero9759 I have done this for years to save money.
It's about saving money and having a place to live and sleep.
If you can't afford an Apt like the o.p. said. This is a great option.
👌🏽
Let's add the job insecurity! YOU ARE NEVER EVER SECURE in a job.
Homelessness is the new class . I’m not joking. For a black man with no support system, no relatives or family, homelessness is the next stop. You get in and maybe you get out.
I was homeless for eight years.
God bless you! I just prayed to Jesus to give you a home
But no, this country would rather give billions to other countries rather than help out their own people.
My divorce left me bankrupt during the great recession.
I was grateful for getting low income benefits but found that raising my income I would lose all my benefits.
Consequently, I've been living off welfare and paying no taxes for 20 of the last 25 years.
If everybody got free healthcare, we would have a far more healthy and productive society.
"Americans now carry over $1 trillion in credit card debt." 0:12 This is part of the problem. Paying interest especially high rate CCs will put you in poverty even if working. 20%+ interest compounds faster than any legitimate income source.
I spent 18 months working in the IT sector in Sydney during the pandemic While there, my 17 year old wanted to stay busy and got a part time gig at a local McDonald's. His start wage was $31aud/hr. Now back in the US, he won't even look for gigs cause the pay is pathetic. I learned that the US is by far not the greatest country on earth, how can it when 40% of its people are in poverty.
why should mcdonalds pay high wages??? its basic beginner work that can be done by a robot
What the heck!?! I’m a tax accountant. It seems like I get paid like $30USD per hour. It is like working for McDonald’s in Australia.
@@ninersnation3298 AUD is not USD.
@@ninersnation3298 thats roughly $18.85/hr
This is about $20 usd, McD pays around $18-20 here in WA state easily. Even min wage in Seattle city is literally $20.76/hr.
Now maybe look at red states with $7.25/hr min wage and ask again why people believe republicans can make everyone’s financial situation better. Oh, right, it’s only about eggs price, I keep forgetting.
Luigi's game needs to be multi-player to get anything done.
Soo... When can we start talking about reperations for all this rampant wage theft thats been going on nearly my whole life?
I drive a 20 year old car, 8 year old cell phone, drink folders crystals and when I want to treat myself I get a coffee for 1 dollar from the McDonald’s app. About to pay off my house this year. Maybe celebrate with a fancy coffee😂
Our enemies, love income inequality, because that stokes turmoil within the country and keeps us fighting
Well I’ll give my experience in the Mexican community. We tend to prioritize the wrong things. We pay thousands of dollars or go into debt t for a quinceañera or buy a 100k truck while renting. Obviously, we aren’t all like that but I see it a lot including in my family
All that carne asada is at least $80 per trip
@ that’s right. Those daily 24 packs of Pacifico take a toll 🤣
But we need the mamalona
In Africa we spend less than 5 dollars a day, live in grass roofed houses with solar panels at the top. Our kids play in the mud outside and run around with chicken and goats. We mostly grow our own food (though the white man is starting to take away our seed sovereignty). For me I can’t stand the life in western world .
I love how that clown from the heritage foundation just said "poverty doesn't matter because we give them welfare, and they're not actually poor because they deliberately undercount their income"
Its going to get a lot worse before it will start to get better.
I got news for you, it's not going to get better. It's just going to keep getting worse and worse, then you die, and then it's gets worse for your kids. That's how the world is now.
With Ai, automation, and outsourcing taking over more and more jobs, in addition to the government’s incessant printing, spending, and borrowing to fund its needless wars and side projects, I’m not sure it ever _will_ get better…
The cost of liveing is so much. You get a federal tax, you get a state tax, you pay taxes in the city you live into. Come on guys every thing is so much more higher.😢
Taxation is theft
I went to a peaceful protest yesterday and then i got fired from my job the next day(today).. Someone from up top figured out i went to a protest and fired me... ill be joining this statistic soon enough. Words of advice - dont make yourself a mark and work in silence.
This is no longer the 1950s~1960s when average American worker faced zero competition in the global labor market; that was nothing natural - most of Asia was in pre-industrial poverty, Western Europe and Japan were scorched to ground, and Eastern Europe was behind the iron curtain.
Thanks to the past decades of global peace and developments, there are now billions of people in lesser developed countries who are capable of doing similar work for far cheaper. Should average US workers enjoy astronomically greater standard of living than people who are equally productive elsewhere in the world solely because they were borne in the US? Maybe, maybe not. Regardless of political views people may have on this, natural tendency is clear - people who have similar capabilities tend to move towards similar wages/benefits/standard of living.
The real reason - the root cause. It's a shame that no one dares to speak on this.
The problem is that US dollar is artifically too high making it impossible for US workers to compete globally. Ever heard of the petrol dollar? That's right, you want oil, you must buy oil using US dollar making EVERY country in the world to buy/hold US dollar.
@@StevenSiew2 Funny because US is practically the only country that can print infinite money without consequences (well, at least relatively).
Petro-dollar was probably a more powerful force before the recent developments with Iran/Russia selling below-market oil to China/India without using USD.
I went from growing up in an upper middle class family to being on my own in a similar situation then to a solid middle class situation after a divorce. Then I struggled after losing a career position in finance a few years before the pandemic. Now I teeter on the bottom of the middle class and the top of poverty, meaning trying to stay housed and fed. I, too, make too much to qualify for the aid poor people get, but I wouldn’t want to be on the streets to qualify. I just want a nice apartment here in SoCal with food to eat, not only one or the other.
Trucks are the most popular vehicles in America and gas can be expensive. People buy vehicles they cant afford and wonder why their credit card bills are so high. You would be a millionaire if you kept a small reliable car and invested the car payments instead.
You are making too much sense. We are big strong Americans we are entitled to drive trucks that cost $80k+ and get 15 mpg. Look at most Southern state that are flat broke with truck and guns. 😂
Ikr that’s why I own a 1974 dart swinger smh
That's a big one since cars are depreciating asset as well. Houses are more dangerous because if you go over budget, you're stuck paying a very high mortgage every month for 30 years.
For real.
I like my big truck and it’s paid for
The reason is the Government only works for the people at the top. US companies are monopolies lot if them are smaller companies own by a larger one. They are controlling the market which causes prices to rise.
Human greed...there saved you 5 minutes
Poverty would end if we didn't allow so much thievery to go on by the greedy top.
Elon Musk does not get a paycheck.
Most people who are rich earn it.
@@raybod1775 Not according to...facts. Most of the ultrawealthy have inheritances, trusts, title/name, etc. Don't let a simple thing like reality stand in the way of your little "bootstrapping" narrative.
Significantly more homeless ppl than ever. Not just in the cities, even in the nicer suburbs I see them pushing around shopping carts full of belongings or living in cars.
^^ this! So many homeless people live in their cars (myself included) these days, who aren’t really even looked at as traditional homeless, even though our living situation still sucks
Bullsh!t, people don't need handout to stay out of poverty. They need lower taxes.
That guy lives with 6 other people and still need food stamps? Why can't the rest work too?
how interesting. Big companies reporting record profits, more billionaires then ever. Look at the richest person in American 10 years ago and now it is $500 billion. But for us working people, everything went up dramatically but our income. I cannot afford a house but working 2 jobs purchase a condo and just got notice increase of $500 per month due to higher insurance cost. I never knew State Farm was going broke.🤔
You see broken cars on highway for days. They cannot afford to fix
I make under 26k a year & don’t have government assistance these senators really are out of touch with reality & it’s really sad.
No worries, the 25% tariffs will help... FDT.
Help, how you ask?
Help increase poverty, silly.
Your ignorance is infinite, workers pay that, The millionaires don't pay taxes and need something to cover up
You’re a fool
Yeah those couple times you went out for a coffee last week and the weekend you went out with friends are why you’re living paycheck to paycheck. Nothing to do with corporations paying peanuts, taxes siphoning 30% of salaries, and the constant inflation/interest rates….
Good thing Americans are smart enough to elect the man who’ll reduce the price of eggs, Donald J. Trump 😂😂😂
bird flue might have gotten into the cattle supply as well. gear up cus hamburgers and milk might be next.
Except Trump and MAGA rigged the election.
and Kamala would have saved the world with more corruption right? What a dumba$
Being stupid is a luxury that can be very expensive.
😅😅😅
I believe we are at a stage in America we should start UBI ….
Stop all other welfare. All get UBI and then let people thrive.
I’m personally tired of hearing about how other countries take care of their citizens but we’re supposed to be the greatest country ever. We have TOO many people struggling to live in this “so called” utopian society!😳😡
Greatest country in the world for the wealthiest.
This is the greatest country. But freedom comes with a cost. And that cost is that it’s easier to make bad choices. Majority if poor ppl makes very bad choices. By the way, based on the graph we have way less poor than in the 2009-2015 period. We are good.
@bianconerointheus6692 over half of americans cant absorb a 500 dollar surprise. So i guess over half of americans cant make the right decision?
The graph was measuring a certain type of poverty. It shows people straddling the poverty line, not overcoming it. The wealth has been consistently consolidating among the few wealthiest people since the 70's. The entire time that has been happening, people have been repeating it's about personal choices over and over.
I lost my youth and many freedoms to poverty. I'd have taken almost any country with public transportation and single payer healthcare over this one.
We take care of them. We give them our money for them to say their system works. We are their military.
Our government spends $20B a day, insert shocked Pikachu face 🙄
And where does that money go? The average salary at the Department of Education in 2023 was $137,881. What do they do, and how valuable is their work?
2 million people are now out of work so you tell me 🤔
@@CEDL4072 It goes to Ukraine, and a lot of other countries around the world to further the liberal agenda. Trump is putting a stop to that.
But according to Patrick bet David and Ben Shapiro we are all just lazy bums 🤔
Are we going to have the same conversation every single month, or are we actually going to do something to solve the problem. This is absolutely out of control. Modern day Peasantry and serfdom.
0428 , Only 1.1% of US workers are earning the minimum wage of $7.25 per hour.
Earning $22.50 per hour X 40 hrs (8hrs a day per week) = $900 @ week. That’s $3,600 per month. It’s $43,200 per year. That is Before Taxes. Do you make $22.50 per hour? You still cannot live on that amount.
At home, I am eating only the leftover scraps from my 2 kids. Rarely when we dine out, we order 3 meals and I eat whatever they cannot finish. Good for me, as I won't be able to gain much weight. And I assume that these are very common practices of parents in the country.
Watching this video about Americans in poverty and gas lighting us about our spending when the government sell bonds and print trillions every month to send to foreign AID, UKRAINE AND ISREAL ... make my blood boil
"The I'm poor people."
Driving a brand new car, wearing expensive attire, and carrying a $1K+ cell phone. Make it make sense.
uber, doordash, eating out, expensive houses, alcohol. It all adds up.
As an Asian immigrant, I noticed Americans overall have a horrible spending habit and unwillingness to forgo discretionary spending. Notice how asian Americans consistently have high savings rate. Instead of looking looking for blames or excuses, realize it's mainly financial education and self discipline. Don't become so brainwashed by consumerism.
Yes and no. The very poor do not consume much. What you see is the high middle class and elite buying stuff.
While I agree with you our economy is literally built on the buying and selling of goods and services. Growing up in the US we are programmed from an early age into consumption and (even) greater consumption when you receive pay increases. At the end of the day it all depends on how much stuff one thinks they need.
Couldn’t agreed more, most Americans overspend on vacations, restaurants, junks. Why save when they can spend for instance gratification.
That's because asian come here a live 10 people in one house.
Again, living wages are not up to par.
My perspective from growing up in poverty with a single mother living on welfare is that the fear of poverty is a strong motivator to work hard. I have been fired from multiple jobs over the years, but some how through American Exceptionalism, I was able to find sufficient employment to support my wife and three kids and still have enough to save for retirement. Sure, I received unemployment, but not for long because I knew I couldn't maintain my standard of living without another job. So I did what most Americans do and applying for jobs became an 80+ hour per week job until a new job was secured. I have never been unemployed for more than a month. Many times I have had to move across America to secure a job and usually at my own expense. "You do what you have to do!" was the mantra. Maybe that is the answer to why American Businesses are the envy of the world; it is the fear of poverty that drives Americans to build amazing businesses or work hard to grow their career. Americans are the most productive in the world. I am not arguing against providing more financial assistance to those in poverty, but I think many like to blame American Capitalism as the cause of poverty and I don't agree with that conclusion. So the American economic system is working for me. Is it perfect? No, and in my case it hasn't been a smooth road, but I continue to make progress.
Household of 7?!?! I hope he doesn’t mean mom + dad + 5 kids
Five condoms is a better deal.
America has a wage problem not an unemployment problem. America is Japan Lost Decade 2.0. Japan never recovered from their lost decade. High debt, low unemployment rate, and super super low wages which cause low birthrate and high suicide rate.
We're in a depression but the satanist don't tell us we are..
No need to insult Satanists like that.
If we are, it's Biden/Harris who put us there.
Please don’t insult actual satanists like that. The people you are referring to are monsters.
I found out the hard way saving when the government decides to print money is a losing proposition. I saved but the government printed 4/5 dollars since 2008 that money I worked hard for is only worth 20 cents on a dollar
LEFT WING AND RIGHT WING IT'S PART OF THE SAME BIRD
we the sane believe in democracy, the right believes in felon fascist trump = Not the same bird *Fdjt
@tjCAUk that type of thinking is what got us trump! How can u say that when they'd democrats handed truno the power peacefully
@tjCAUk it's an act
And the corporate media continue brain washing the population with slavish but meaningless terminologies and slogans....
Trump is more corrupt though. Scamming snake oil salesman scamming his own voters.
Dont worry, guys. new orange man that we voted for will fix everything ! I mean, he will fix everything for his rich billionaire friends 😅
I think the big problem is the median income being too different than the average income. When there is a big disparity between median and average, it puts prices out of reach. The rich outcompete the poor for the resources they need to survive. If the median were close to the average, then even if there is a big disparity between the top 10% and bottom 10%, the majority can take care of themselves and reach out to the ones at the edges who need a bit more help. When the median is far below the average, then everyone is struggling aside from the lucky few.
I’m working 16 hours a day 7 days a week. I own my own business and this is what it takes to get by. I can afford a 2 br for myself but that’s only because I have an in for a reasonable rent. I cannot even fathom buying a home. I’m probably in the top 15% of earners for my age and it’s literally impossible for me to purchase a home within 50 miles of where I need to be for my business. It’s ridiculous.
Poverty starts when you call a contractor for help, and the contractor, example plummer etc etc, charges a fee of $$ just to come to your location . So you start in the negative
I put a new toilet in my house for $125.00. the plumber charged my neighbor $1000.00
"You need to make more money." 😂 Wow, did you need a PHD. to figure that one out??
You just have to take things day by day and try not to stress too much. I hope everyone has a good day.
People need to start prepping, arming up and organizing into defense groups and intelligence networks. With all that still find ways to relieve stress.
Looks like you are comfortable.
@ The NotZs.
@ NotZs.
@@Stefch2 I wish 😆 🤣
I’m glad that although I live paycheck to paycheck and scrape by I have a $2000 emergency fund. I feel blessed but I also realize that’s no where near enough to handle a job loss or anything like that.
Why does their race matter? wtf
This country a straight up joke now
That is so scary! I've been lucky enough to have parents that lived frugally and by example, taught me to save for what I wanted, completely pay off a credit card each month, and to know the difference between want and need. I also was given a good education and trained for a career, so was always paid more than it took me to support myself. Didn't have kids until 30 when husband and I had already saved for our own house and I was able to stay home with our kids.
Not everyone has those advantages in life, but also I have seen people indulge themselves with wants before their needs have been covered. Instead they smoke, party, eat fast foods out often, yearly vacations, a car that is more than they need and newer than they can afford. If people could look at every bad habit they have and add up how much that is costing them per week/month/year/ and then X10 for 10 years, they would be shocked at how much money is squandered. Quit indulging yourself and thinking you deserve to have it all! To the honestly struggling ones, sorry for your troubles. I am guessing the biggest drain of monthly expenses is that ridiculously high rent.
That's how I grew up poor but disciplined and I'm doing great :)
@@ruthosornio7779 Glad to hear you are doing well. I didn't have to be told as a teenager that doing without some things until I could afford them might mean that I was not eating dog food as a senior. Strange comparison since good dog food costs more than most human foods. LOL
@islandgal500 so true lol
Im living a good life too but the system is also flawed. Not everyone is going to get a manager salary to pay for rent and transportation.
0:59 CORRECTION: The United States is known for having *3 billionaires* that have great abundance. That is roughly 0.000000865848% of the total population in the U.S. (346+ million).
And yet send trillions to Afghanistan, Israel, Ukraine, Taiwan
Foreign aid is only 4 percent of the federal budget. Get smart so that you can make smart comments.
Foreign aid doesn’t help U.S. citizens. Zero it out.
And foreign countries did not received it.
Trump's America😂😂
Prices will never go down so long as people are willing to pay the high prices and are even willing to go into debt for.
Graduate high school, get a full time job, don't have children outside marriage, live under means. - 99.9% chance you won't be in poverty.
Poverty is your income NOT lifestyle. If you make less than ‘x’ you are living in poverty. High school students have poverty jobs.
I suggest you look into those stats. They've been pretty thoroughly debunked.
@@757Princessa guy from my high school started a landscaping company and he’s a multi millionaire. High school diploma, most successful of our class
@757Princess those jobs were only supposed to be part time for someone in school or added onto some other income
High School? Dude wake up, this isn't the 1950's anymore.
I trimmed my own trees today with a pole saw to save money and we make 250k as a household living in a 400k house. People are irresponsible with $$
if you cant save money thats on you
Not to mention the productivity requirements of lower paying jobs. We're physically overworked, underpaid, and still can't live comfortably. It's time to unionize people!
Thats crazy, i pray for the poor in America. When i was in my home country in Tanzania, i always made sure there was atleast 3000$ minimum on my account for emergency. Since i was a kid, my parents taught me the importance of that. Now in Canada i make sure i always have atleast 10k for emergency. Nevertheless, i still think America has alot of opportunities and its people are resilient. With the right leadership, things will get better!!
Trump?
Lol! She said the RIGHT leadership. I don't think that's trump
I feel like this entire video is just an argument against the car dependency in America. If we had actual, useful public transportation we wouldn't need to be worried about car repairs, or gas, or car insurance, or registration.
Why? Partly because many American politicians are busy trading stocks and attending election campaign fund raises....
that doesn't affect poverty at all
We are in a time of massive change, and so many factors of what we considered to be normalcy are gone.
Wow that is sad. I am happy to be Canadian 🇨🇦we barely have any poverty over here. And we have free healthcare for all.
Poverty is rising in Canada also, and the cost of housing has exploded
Looooooool y’all have a crazy homelessness problem and crazy waiting times for specialist appointments
Barely any poverty, I find that hard to believe.
alr theres no way you're for real. you have a way bigger problem than the US and most of yall aren't even canadians but indians now 💀
social security ISN'T FAIR. If married, and then divorced, the non-worker only receives 1/2 of the lifetime social security while the working person, receives twice as much. Out of this, you have to pay for Plan B (200) then you have to pay for addition insurance for doctor visits.
There are way too many new cars on the road, overcrowded planes and cruise ships, for me to believe that 63% of workers can't cover a $500 expense.
Because they are acting like children and can’t think for themselves. Don’t forget YOLO etc…live for the social medias and whine.
If you think they own those cars, then you should stop commenting because you're probably not smart enough.
The supermajority of those cars are owned by the bank or they're on a lease. My neighborhood I see all of the latest cars all the time. They just keep switching them out from their long-term leases. Of course there are a lot of people who buy their cars outright, but nothing close to amount of people who are just renting them monthly to month.
Like come on use your common sense
All the restaurants are full as well. Plus everyone's nails are done and they have a Harley Davidson.
They are swiping those credit cards
Credit and debt
Glad i didn’t have kids. Rule of thumb. Don’t have them until you’re in a successful high paying career.