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Well Off Americans Are Largely Unaware “How The Other Half Lives”

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June 4, 2015 by Chris Kite

It is no secret that we have a huge difference in wealth in the United States. There are many that have lots. And there are many that have nothing. What is amazing is how disconnected those that have lots are from those that have little or nothing.

I must confess that even I am somewhat surprised that 47% of Americans could not deal with an unexpected expense of $400. That isn’t something that is uncommon. An car or home repair. A medical bill. It isn’t hard to imagine how easily those people could be “sunk” by an unexpected expense. People in this group tend not to have savings. But how can you possibly save money when you’re living paycheck to paycheck? This isn’t a bunch of welfare queens or strung out drug addicts as the right likes to tell us. These are everyday working Americans. These are your friends, neighbors, and family!

http://www.nytimes.com/2015/05/29/opinion/paul-krugman-the-insecure-american.html?smid=fb-nytimes&smtyp=cur&bicmp=AD&bicmlukp=WT.mc_id&bicmst=1409232722000&bicmet=1419773522000

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