Drudge Retort: The Other Side of the News
Saturday, November 18, 2017

The average American household carries $137,063 in debt, according to the Federal Reserve's latest numbers.

Yet the U.S. Census Bureau reports that the median household income was just $59,039 last year, suggesting that many Americans are living beyond their means.

Those numbers are unlikely to shrink anytime soon, according to NerdWallet. That's because the cost of living in the U.S. rose 30% over the past 13 years, yet household incomes only grew 28%. As a result, more Americans are using credit cards to cover basic needs like food and clothing.

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And it's only gonna get worse before it gets worse.

#1 | Posted by shane at 2017-11-18 01:27 PM | Reply

Maybe people should buy used cars instead of new cars, smaller homes, learn how to cook rather than dining out, do without the latest iphone, use only debit cards, etc.

Just a thought.

#2 | Posted by AndreaMackris at 2017-11-18 01:49 PM | Reply

28% in 13 years? that's a laugh.

nces.ed.gov

#3 | Posted by ichiro at 2017-11-18 02:21 PM | Reply

"Maybe people should buy used cars instead of new cars, smaller homes, learn how to cook rather than dining out, do without the latest iphone, use only debit cards, etc."

This is your solution to wealth rushing upwards: Tell the bottom 4 in 5 households to make do with less.

#4 | Posted by snoofy at 2017-11-18 02:31 PM | Reply

#4 I have an absolute hatred of the oligarchs. A second Gilded Age is coming, and they will not only control all the wealth, but also the information.

#5 | Posted by HeliumRat at 2017-11-18 02:35 PM | Reply | Newsworthy 2

#5 but we'll load out before then.
right!?

#6 | Posted by ichiro at 2017-11-18 03:29 PM | Reply

#2

"Let them live in hovels!" - Princess Andrea

#7 | Posted by Corky at 2017-11-18 03:30 PM | Reply

#6 I think it will actually take the collapse of American before we arm up and run out into into the streets shouting "Up against the wall, -------------!"

That will happen in the Great Bankruptcy, when all of our (severely underfunded) pension funds collapse, followed by the end of social security and Medicare and Medicaid.

When we can no longer afford to pay our bills, just due to interest payments on the debt, it won't be the military budget that gets cut. No, that is sustained through corruption from the military industrial complex paying off lawmakers. Instead, it is everybody else who will pay while we finance foreign wars for profit.

Here's how I see it going down: neighborhoods full of empty middle class houses will be secured by drug-tested and back-ground checked private security while our parents, and many of us, beg for on the streets for enough money to buy a taco or sandwich every day, completely homeless.

Not that I'm being trying to be nihilistic or anything....

#8 | Posted by HeliumRat at 2017-11-18 04:08 PM | Reply

No. In other places the plutocracy sets up and the people can't stop it.

America isn't so special that it can't happen. It may have already happened.

#9 | Posted by BruceBanner at 2017-11-18 05:22 PM | Reply

The side that's in power sure is awfully cozy with Putin.

Putin is a plutocrat as it turns out, is why I brought it up. But it might not be relevant. It could be that two plutocrats are working together to Make America Great Again.

#10 | Posted by snoofy at 2017-11-18 06:00 PM | Reply

The side that's in power sure is awfully cozy with Putin.

#10 So... Trump supports communist propaganda like Critical Theory? I thought he raped 16 women.....

#11 | Posted by HeliumRat at 2017-11-18 06:05 PM | Reply

#9 I agree. We could be about to get Romed. When the Roman republic died, nobody took up arms. Yeah, I'm thinking my giant robot is obsolete compared to face-seeking miniature bomb drones, but I'm still going to complete it, as God is my witness.

#12 | Posted by HeliumRat at 2017-11-18 06:14 PM | Reply

I am leaning towards packs of robotic wolves.

#13 | Posted by BruceBanner at 2017-11-18 07:20 PM | Reply

"Trump supports communist propaganda like Critical Theory?"

Trump supports the Russian oligarch, and the Russian oligarch supports Trump.

#14 | Posted by snoofy at 2017-11-18 07:22 PM | Reply | Funny: 1

"A second Gilded Age is coming, and they will not only control all the wealth, but also the information."

We're balls deep in that age. "Since 1975, practically all the gains in household income have gone to the top 20% of households."

The part that doesn't go to the top is sufficient to gild the cages for the rest of us. If MadBomber were here, he could expand on how luxurious the gilding is, compared to our last gilded age a century ago.

#15 | Posted by snoofy at 2017-11-19 02:00 PM | Reply

Live within your income circle.

#16 | Posted by JeffJ at 2017-11-20 11:47 AM | Reply

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