The 2011 American Economy – Part Four

For the last few weeks, I’ve been sharing with you a total of 50 startling facts about the 2011 U.S. economy. We’re up to number 31 on our list and the facts continue. This week we’re going over numbers 31-40. Only one more week to go.

Even though most American’s have become frustrated with this economy, I know that my students have the ability to not only survive but to thrive in these times. I’m sharing these numbers with you not to scare you, but to prove to you that while things seem bad for you, they could always be worse.
Hopefully many of you will use the list below as a tool to help you share the reality of the U.S. economic crisis with your family and friends. And if any of them need help, send ‘em my way.

31. Today, one out of every six elderly Americans lives below the federal poverty line.

32. According to a study that was just released, CEO pay at America’s biggest companies rose by 36.5% in just one recent 12 month period.

33. Today, the “too big to fail” banks are larger than ever. The total assets of the six largest U.S. banks increased by 39 percent between September 30, 2006 and September 30, 2011.

34. The six heirs of Wal-Mart founder Sam Walton have a net worth that is roughly equal to the bottom 30 percent of all Americans combined.

35. According to an analysis of Census Bureau data done by the Pew Research Center, the median net worth for households led by someone 65 years of age or older is 47 times greater than the median net worth for households led by someone under the age of 35.

36. If you can believe it, 37 percent of all U.S. households that are led by someone under the age of 35 have a net worth of zero or less than zero.

37. A higher percentage of Americans is living in extreme poverty (6.7%) than has ever been measured before.

38. Child homelessness in the United States is now 33 percent higher than it was back in 2007.

39. Since 2007, the number of children living in poverty in the state of California has increased by 30 percent.

40. Sadly, child poverty is absolutely exploding all over America. According to the National Center for Children in Poverty, 36.4% of all children that live in Philadelphia are living in poverty, 40.1% of all children that live in Atlanta are living in poverty, 52.6% of all children that live in Cleveland are living in poverty and 53.6% of all children that live in Detroit are living in poverty.