ON BEHALF OF HIS WALL STREET CRONIES,
OBAMA’S ASSAULT ON AMERICAN EXTENDS TO AMERICA’S YOUTH… THEN ILLEGALS GET THE
JOBS!
SOMETHING TO THINK ABOUT AS OBAMA AND HIS CORRUPT HAREM OF
LIFER-DEMS BUILD THE LA RAZA MEXICAN WELFARE STATE IN OUR BORDERS AND HAND
ILLEGALS NOT ONLY OUR JOBS, BUT ALSO DREAM ACTS DISCOUNTS ON EDUCATION, AMNESTY
AND NON-ENFORCEMENT AS WELL AS OPEN BORDERS.
Report details massive
wealth loss for youth in US
By Nick Barrickman
18 March 2013
18 March 2013
A recent report from Washington DC-based Urban Institute (UI)
shows that overall percentage of wealth in society for those in “Generation X
and Y” (those in their 20s and 30s) has been consistently dropping and is
currently at a level which may be unprecedented.
The report finds that although wealth accumulation had been
relatively stagnant for this sector for some time prior, the 2008 financial
collapse impacted young people more deeply than the rest of the population.
“It’s a little bit of a tipping-point moment. … If we don’t
address it today, they might never catch up,” Signe-Mary McKernan, one of the
report’s co-authors told the New York Times. The UI study, “Lost Generation?
Wealth Building Among Young Americans,” is relatively brief, giving
a broad overview of the impact of the recession on youth. It cites the
depressed job market, stagnant pay levels, and ballooning student debt, which
particularly impact young adults’ efforts to put away savings.
Those born after 1970 have seen a seven percent loss of household
wealth from 1983 to 2010. Those in the 29-37 age-range saw a 21 percent drop in
their total accrued wealth. In contrast, those aged 74 or older saw an increase
of wealth by 150 percent on average. A significant factor was the impact of a
more robust social safety net.
Throughout the past century the amount of wealth obtained from one
generation to the next generally increased. In the past several decades,
however, this trend has been reversed as social gains made by workers nearly a
century ago have been rolled back. The report points out that even before 2008,
youth had been falling behind in savings.
Gene Steuerle, one of the study’s co-authors explained, “One might
expect to see, say, a parent generation accumulate $100,000 by the time its
members were in their 30s and $300,000 in their 60s, whereas their children
might accumulate $200,000 by their 30s and $600,000 by their 60s. … This normal
pattern no longer holds for the younger among us.”
The report found that many of those born before 1952 were more
likely to hold annuities or defined-benefit pension plans. Such benefits have
been almost entirely eliminated for younger workers.
Another recent study put out by the New York Federal Reserve found
that the average student loan debt for a 25-year-old in the US has risen to
$25,000, with about 17 percent of all borrowers, nearly one in five, at least
three months delinquent. This indebtedness has affected the ability of
individuals to receive mortgage loans, the report said.
In 2005 nine percent of all mortgages went to individuals in the
25-30 age group. This has fallen to only four percent. Fewer young people own
houses today, declining from 40 to 34 percent since the recession first struck.
This growth of debt is compounded by the absence of decent paying
jobs. A report last fall by the National Employment Law Project showed that of
the jobs generated since 2009, the majority paid between $7.69 and $13.83, near
poverty level. These jobs have become the foundation for the Obama
administration’s claims of “economic recovery.”
Though the UI report presents conditions for seniors in somewhat
rosy colors, their situation is becoming increasingly dire as well. The report
does not state that many have also faced the loss of homes and livelihoods.
Likewise, the average time out of a job for members of the workforce above 50
is 17 months.
The same benefits and programs that the report notes have
benefited older workers are increasingly under assault. The Obama
administration and the Republican Party are united in their efforts to slash
hundreds of billions of dollars from federal health care and retirement
programs.
The author also recommends:
A lost generation
and the struggle for socialism
[06 September 2012]
[06 September 2012]
One in five US
households has student loan debt
[01 October 2012]
US student debt surpasses $1 trillion
[24 March 2011]
[01 October 2012]
US student debt surpasses $1 trillion
[24 March 2011]
*
DURING BARACK OBAMA’S FIRST TERM, 2/3s OF ALL
JOBS WENT TO IMMIGRANTS, BOTH LEGAL AND ILLEGAL.
IT’S ALL ABOUT MAKING BILLIONAIRES BY KEEPING
WAGES DEPRESSED.
Silicon Valley Poverty Is Often Ignored By The Tech Hub's Elite
*
AMERICANS
(LEGALS) HAND THEIR JOBS OVER TO ILLEGALS USING STOLEN SOCIAL SECURITY NUMBERS,
PAY FOR THE ANCHOR BABY BREEDING = 18 YEARS OF WELFARE, AND CRIME TIDAL WAVE…
but have NO vote in amnesty?
BUT THE DEMS
ARE REALLY NOT CONCERNED ABOUT AMNESTY PASSING AS OBAMA WILL CONTINUE
NON-ENFORCEMENT UNTIL THERE ARE SO MANY ILLEGALS VOTING… THEY WILL VOTE THE
HISPANDERER FOR A THIRD TERM!
AMERICANS
SAY NO TO AMNESTY!
Obama's 'Hispanicazation' of America
*
Most Illegal
Immigrant Families Collect Welfare… ALL GET AMERICAN JOBS???
April
05, 2011
Surprise, surprise; Census Bureau data reveals that most U.S.
families headed by illegal immigrants use taxpayer-funded welfare programs on
behalf of their American-born anchor babies.
*
OBAMA’S WALL
STREET and the LOOTING of AMERICA – SECOND TERM
The corporate cash hoard has likewise
reached a new record, hitting an estimated $1.79 trillion in the fourth quarter
of last year, up from $1.77 trillion in the previous quarter. Instead of
investing the money, however, companies are using it to buy back their own
stock and pay out record dividends.
Megan
McArdle Discusses How America's Elites Are Rigging the Rules - Newsweek/The
Daily Beast special correspondent Megan McArdle joins Scott Rasmussen for a
discussion on America's new Mandarin class.
DID OBAMA PUNK AMERICANS AS BADLY AS IT LOOKS NOW?
"There
is a populist and conservative revolt against Wall Street and financial elites,
Congress and government," Democratic pollster Stanley Greenberg warned in
an analysis this week. "Democrats and President Obama are seen as more
interested in bailing out Wall Street than helping Main Street."
OBAMA, THE BANKSTER OWNED LA RAZA
DEM
“The response of the
administration was to rush to the defense of the banks. Even before coming to
power, Obama expressed his unconditional support for the bailouts, which he
subsequently expanded. He assembled an administration dominated by the
interests of finance capital, symbolized by economic adviser Lawrence Summers
and Treasury Secretary Timothy Geithner.”
*
JUDICIAL WATCH:
It proves the Obama administration is willing to go to any extent
- including gaming the courts - to continue stonewalling the full story of its
lawless release of illegal aliens. Now, with the prison floodgates being thrown
open to illegal aliens under the phony pretense of abiding by sequester cuts,
it is more important that details of this threat to the public safety be
revealed.
Obamanomics: How Barack Obama Is Bankrupting You and
Enriching His Wall Street Friends, Corporate Lobbyists, and Union Bosses…and
Muslim Dictators
“Records show that four out of
Obama's top five contributors are employees of financial industry giants -
Goldman Sachs ($571,330), UBS AG ($364,806), JPMorgan Chase ($362,207) and
Citigroup ($358,054).”
*
Importing Poverty: Immigration and Poverty
in the United States: A Book of Charts
By Robert Rector
The Obama administration has also cut worksite enforcement efforts by 70%, allowing illegal immigrants to continue working in jobs that rightfully belong to citizens and legal workers.
The Obama administration has also cut worksite enforcement efforts by 70%, allowing illegal immigrants to continue working in jobs that rightfully belong to citizens and legal workers.
*
THE ENTIRE REASON THE BORDERS ARE LEFT OPEN IS TO CUT WAGES!
"We could cut unemployment in half simply by reclaiming the jobs taken by illegal workers," said Representative Lamar Smith of Texas, co-chairman of the Reclaim American Jobs Caucus. "President Obama is on the wrong side of the American people on immigration. The president should support policies that help citizens and legal immigrants find the jobs they need and deserve rather than fail to enforce immigration laws."
Obama and Justice Sotomayor Vow to
Illegals to SABOTAGE E-verify!
VIVA LA RAZA SUPREMACY?
“What employers really want in many
cases by hiring immigrants is to hold down wage costs, experts say.”
UNDER OBAMA, TWO-THIRDS OF JOBS
GO TO HIS PARTY BASE OF ILLEGALS!
“At
the hearing, Dr. Rakesh Kochar, Associate Director for Research at the Pew
Hispanic Center, testified that in the year following the official end of the
recession (June 2009), foreign-born workers gained 656,000 jobs while
native-born workers lost an additional 1.2 million jobs.”
"We
have a situation where the job market — the bottom fell out, yet we kept legal
immigration relatively high without even a national debate," he said.
"As a consequence, a lot of the job growth has been going to
immigrants."
Mr.
Obama did take action this year to grant many illegal immigrants up to 30 years
of age a tentative legal status that prevents them from being deported and
authorizes them to work in the United States.
Some
Republicans in Congress have criticized Mr. Obama's policy, saying it violates
his powers and will mean more competition for scarce jobs.
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