Monday, March 18, 2013

STAGGERING LOSS of WEALTH for AMERICA'S YOUTH - OBAMA'S ASSAULT on AMERICANS CONTINUES


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

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.

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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


 

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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

 


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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.


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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.”

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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).”

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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.

 

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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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