Americans' Paychecks at the Breaking PointSubmitted by Michael Nystrom on Fri, 11/02/2007 - 21:44
Most people never make the connection why prices are rising. This article from the AP doesn't. It describes how bad things are getting for people, but doesn't mention why paychecks can only be stretched half as long as before. Ron Paul makes the connection - it is the Federal Reserve, printing more and more money, making the money in your paycheck, your wallet, and your bank account worth less and less. AP Article follows below:
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Workers are juggling ever-increasing housing, food and energy bills
By ANNE D'INNOCENZIO | THE ASSOCIATED PRESS
NEW YORK -- The calculus of living paycheck to paycheck in America is getting harder. What used to last four days might last half that long now. Pay the gas bill, but skip breakfast. Eat less for lunch so the kids can have a healthy dinner.
Across the nation, Americans are increasingly unable to stretch their dollars to the next payday as they juggle higher rent, food and energy bills. It's starting to affect middle-income working families as well as the poor, and has reached the point of affecting day-to-day calculations of merchants like Wal-Mart Stores Inc., 7-Eleven Inc. and Family Dollar Stores Inc.
Food pantries, which distribute foodstuffs to the needy, are reporting severe shortages and reduced government funding at the very time that they are seeing a surge of new people seeking their help.