CNBC: Standard of Living Drop
The US is facing some tough times, and many Americans are feeling it. Given the recent recession and economic downturns, the average american has lost much of their disposable incomes. These disposable incomes are very helpful in determining Standard of Living, as the disposable income is money spent on non-necessities such as movies, rides, pools, games, and other accessories you may enjoy in day to day life. CNBC reports that the average american has lost $1,315 of their disposable income in the past three years. To add to that inflation has reduced consumer buying power by 3.25 percent since 2008, making their money worth less. Overall, the Standard of Living is not looking to sharp for the US.
I believe this is terrible, the United States needs to remain as the country with the best standard of living in the world, and needs to remain as the most comfortable nation on earth. The United States has lost much of its power due to lack of economic efficiency created by joblessness, regulation, and other burdens on businesses. It is unfortunate that this has taken away 1,315 dollars out of the pockets of Americans, who would otherwise be having fun in a new pool, watching movies, or doing other non-necessary activities.
I'm aware of the economic recession, but this article and your summary is interesting in how it quantifies it - zoning in on what it has meant for the average American. What is missing is if that is how its impacting average JOe, think of how it is impacting those who didn't have disposable income to begin with.
ReplyDeleteAmerica is currently in a recession, but I don't think that the big issue is not having money to spend on leisure activities. People are struggling to make their house payments, and causing some to be foreclosed on. A bigger issue of the recession is to get our unemployed back into the workforce, lowering our unemployment rate. To many people have been off work for to long and are no longer able to provide for their families.
ReplyDeleteThe standard of living is dropping in America. The United States needs to find a way to improve the standard of living though legislation. The Obama administration has not really done anything to improve or correct the standard of living during his presidential term in office. If you go to any big city in America, you will see the standard of living decreasing though the increasing number homeless and poverty stricken.
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