17 Facts That Prove That The Average Family Is Getting Absolutely Pulverized By This Economy

The Economic Collapse ^ | Sept 28, 2011 | Staff

[Flamenco Lady]

My family of 5 has had to manage on less than $20,000 per year after taxes for over a year now as a result of a death in the family and two adults out of work. While we are definiely not living well, we have managed to keep a roof over our heads, pay all essential expenses, and still have enough left to eat well balanced frugal meals, without the need for food stamps (our monthly food budget is $200 for 5 people).

We have car insurance on one older vehicle, but no medical or property insurance, since there just isn’t any room in the budget for that at the present time. We have paid our own medical bills with only one larger medical bill on a monthly payment plan.

I know lots of other middle class families who have also had their family incomes drastically reduced due to the loss of employment in their own families over the last few years. Many like us have had their incomes drop substantially and now have incomes at or below the poverty level.

Given the high number of unemployed and under employed in this country, and the lack of job creation in the private sector it certainly does not look like things are going to improve much in the near future.

[Flamenco Lady]

Actually both could be true at the same time. Some households have more than one person earning income. So the median household income could be slightly less than $50,000 a year while the median yearly wage (per person) in the United States is just $26,261.

In a household with more than one person you might have two or more people with some income.

[ExGeeEye]

I don’t know why you would say so, but...

No, and

It is a budget item that could be stricken if it became necessary.