Majority of US adults are in or face near poverty

08/01/2013 - 00:00

By Yves Smith -

Reader Cathryn Mataga complained yesterday in comments about the under-reporting of how bad things are out in the real world where most people live. It’s not hard to find proof of her thesis.

I received an e-mail today about an Associated Press story that ran on July 28, “80 Percent Of U.S. Adults Face Near-Poverty, Unemployment: Survey.” The findings are grim:

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.