One in five is twenty percent. And that's just children.
This is only going to get worse. The recovery rambles on. Just say a prayer, wish upon a star, think positively, and we'll collectively as a nation will these kids out of poverty.
- The Economic Collapse -
Perhaps the greatest victims of the economic nightmare that is unfolding right in front of our eyes are our children. The overall economic numbers are really bad, but when you examine the impact that this economy is having on children things get really horrifying. Today, 1 in 5 American children live in poverty and 1 in 4 American children are on food stamps. Experts tell us that about 50 percent of all U.S. children will be on food stamps at some point before they reach the age of 18. Up to half a million American children are homeless even as you read this. And yet we continue to insist that we are the wealthiest nation in the world. Well, if we are so wealthy, then why are so many millions of our children suffering so desperately?
Part of the reason is because an increasing number of parents can't find work. According to a U.S. Labor Department report, the average duration of unemployment in the United States hit 34.4 weeks in May, which was a big increase from 33 weeks during April. To give you some perspective how incredibly bad that is, the average duration of unemployment was only 16.5 weeks in December 2007.
The truth is that when U.S. workers lose their jobs they are finding it exceedingly difficult to find new ones.
In fact, 45.9% of those currently unemployed in America have been out of work longer than six months. That is the highest percentage since the Labor Department began keeping track of this statistic back in 1948.
So is there much hope that things will turn around soon?
No, not really.