As the stock market today continues to show breakdowns all across Wall Street, Main Street has been in a continuous decline since the Credit Crash of 2008. And although the fake unemployment numbers that are reported by the government are painted to be around 5.3%, the sad reality in this new waiter vs. manufacturing ‘recovery’ is that thanks to inflated prices in the housing and rental markets, the average American can no longer afford to live in even the most inexpensive of cities.
Low-income workers and their families do not earn enough to live in even the least expensive metropolitan American communities, according to a new analysis of families’ living costs published Wednesday.
The analysis, released by the left-leaning Economic Policy Institute, is an annual update of the think tank’s Family Budget Calculator that reflects new 2014 data. The Family Budget Calculator is a formula designed to determine the income “required for families to attain a secure yet modest standard of living” in 618 different communities across the country that the U.S. Census Bureau defines as metropolitan areas. The formula uses data collected by the government and some nonprofit groups to measure costs of housing, food, child care, transportation, health care, “other necessities” like clothing, and taxes for families of 10 different compositions in these specific locales. – Huffington Post