80% of US adults facing near poverty or no work

Associated PressSo this is what Obama was talking about when he spoke of hope and change, and the “fundamental transformation” of America. What’s amazing is how few people still see let alone grasp reality.

First up, an excerpt from an AP story. Links to more on the topic follow.

Four out of 5 U.S. adults struggle with joblessness, near poverty or reliance on welfare for at least parts of their lives, a sign of deteriorating economic security and an elusive American dream.

Survey data exclusive to The Associated Press points to an increasingly globalized U.S. economy, the widening gap between rich and poor and loss of good-paying manufacturing jobs as reasons for the trend.

The findings come as President Barack Obama tries to renew his administration’s emphasis on the economy, saying in recent speeches that his highest priority is to “rebuild ladders of opportunity” and reverse income inequality.

Hardship is particularly on the rise among whites, based on several measures. Pessimism among that racial group about their families’ economic futures has climbed to the highest point since at least 1987. In the most recent AP-GfK poll, 63 percent of whites called the economy “poor.”

Read the article…

Here are two write-ups on the above AP story:

80% of US adults facing near poverty or no work

Signs of Declining Economic Security