Working Poor in the U.S. Hits One-Third of all Employed Families
From Profit Confidential January 16, 2013 - 11:00am
It wasn’t too long ago when the U.S. economy was on the verge of collapse and any prospects for economic growth were bleak (think 2008). We all know what happened after the financial crisis. Banks needed help or else the financial system would have collapsed. So big banks had billions of dollars made available to them via the government and Federal Reserve.
Fast forward to today, and with all the stimulus packages implemented by the U.S. government and the quantitative easing programs of the Federal Reserve, the banks have been saved. But not much else has been done in the U.S. economy. In fact, the statistics show we may be going in the wrong direction again.
The U.S. economy took a huge wrong turn when banks were permitted to make loans to people who never really qualified for them. It will take decades for the U.S. economy to recover from the wounds of the financial crisis. And some...