Zogby: 70% of Americans believe they're 1-3 paychecks away from poverty

[brentspeak]

This is all because Wall Street's insatiable thirst for profits has dictated both absolutely suicidal trade policy and ruinous financialization and debt servitude.

We need an FDR, like now.

http://www.reuters.com/article/lifestyleMolt/idUSTRE5B052E20091201

Most Americans not confident about financial future
Tue Dec 1, 2009 4:48pm EST

NEW YORK (Reuters Life!) - There may small glimmers of hope in the economy but most Americans are not confident about their financial future and many think they are already poor, according to a new survey.

More than 70 percent of Americans questioned in a Zogby International poll said they could imagine becoming poor or already think they are.

"What they're saying is that they're one, two or three paychecks away from poverty," said John Zogby, the CEO of polling company. "This has a huge implication."

[DJ13]

1. Hell, many are in poverty WITH a paycheck

All those items uncounted in "official" inflation numbers (food, energy, health care....anything that sustains life) are still rising in price, pushing people further and further behind.

And companies freezing wages and reducing hours at the same time arent helping.

[roguevalley]

14. I'm 20 days from catastrophe. I can't wait for payday. Literally. :(

[uponit7771]

20. I know that's right...1

[Laelth]

2. With 70% of us already saying we're poor ...

... how well is it going to go over when Congress orders 40 million people to buy bad health insurance (at the rate of approximately 12% of gross income).

The individual mandate is a very bad idea.

:dem:

-Laelth

[izquierdista]

3. Hey, Obama smokes like FDR

:shrug:

[Sarah Ibarruri]

4. And we can thank the Repukes for that.

And we can thank churches for getting Repukes elected.

[Raine]

5. That's pretty scary

even if you're not among the 70%, the thought of that many people in that bad a shape is sobering.

[DavidDvorkin]

6. Some of us don't even have a paycheck.

[Bozita]

7. Shhhhh! ... The class war has been ongoing since Reagan went after PATCO.

We're not supposed to know anything about it.

Shhhh!

[valerief]

8. Well, this may surprise a handful of the two-percenters but most Americans know this because

we live it.

[onenote]

9. Did anyone even bother to check out this "poll"?

Go to zogby's website and read about it yourself. It was an interactive poll. Put a lot of faith in those? And of those responding, 20 percent said that they already consider themselves poor and 52 percent said they can imagine becoming poor. The 1-3 paychecks away appears to be nothing more than Zogby's hyperbole in an utterly subjective poll -- I suspect the range of people who consider themselves "poor" covers a lot of ground. By the way, if you go to his website, you'll see he's trying to sell a book. ANother reason to toss this poll in the trash.

Moreover, the poll found that 33 percent of Americans expect their financial situation to improve a year from now and that 50% believe their personal financial situation will be better off five years from now, while only 18% think their situation will be about the same, and 20% believe they will be worse off financially five years from now.

[Purveyor]

11. Thank you onenote for providing some context. eom

[avaistheone1]

10. This is a good indicator America can not afford to escalate or start another war.

Our resources are needed here at home.

[onenote]

13. this "poll" isn't a good indicator of squat. its an interactive poll by a guy trying to sell a book

[NYC Democrat]

12. im not surprised by this at all I know people who are by every measure Financially stable hell some

are even Upper Middle Class who believe that they are poor or nearly poor even when its obvious they are not.

[ej510]

15. This is what the corporate elite want and it is slaves. You are afraid to quit or

strike out of fear of your job loss resulting with you losing your sanctuary.

[harun]

19. +1

[depakid]

16. Better also hope that they or a family member doesn't get injured or fall ill and require a hospital

stay.

One more indication that America's headed toward third world status. Not too long down the line and the US becomes Canada's Mexico.

[reggie the dog]

17. are checks weekly or monthy in the USA?

I moved to France after grad school and here we get paid once a month, so 3 months without a salary would be rough.

[Raine]

18. Most are either weekly or

every two weeks I believe.

[joeglow3]

21. I think technology plays into this for the middle class

My wife and I are really frugal. Every possible expense, we annualize and then decide if we need it (mostly because of the CPA in me). And yet, MANY people have to have the new Iphone, with internet and unlimited texting. They HAVE to have their digital cable, with HBO, netflix and HD DVR. Some things we have turned down:

Digital cable: at about $40 a month, it is almost $500 annually.
Text messaging: about $70 annually.
Second cell phone: about $400 annually.
Newer house (we would like one about double the value - $250,000) - about $3,500 annually in additional property taxes.

We also only buy 2-3 year old American cars and drive them into the ground.

As a result of this, we, at 32 years old, have living expenses of about 3-4 years saved up.

Now, I work alongside MANY (about 80-90% of my coworkers) we make comparable pay to me, but stretch themselves thin to have all these luxuries.

While I would expect this number to be high with the shafting our government and companies have given to the poor, I am still shocked at the number of middle class people who seem to have forgotten ever studying Maslow's Hierarchy.