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Report: Thirty-Three Percent of Chicagoans Have Less Than $250 in Bank Accounts Before Every Pay Day

depression-era-unemployment-lineThere is a truly disturbing report out of Chicago that highlights the massive wealth gap in our country. The Springleaf Financial Strength Survey, found that 33 percent of Chicagoans are living paycheck-to-paycheck and have less than $250. Nationwide 43 percent of families are living paycheck to paycheck.

The Chicago figures are worse than the nation as a whole, which themselves are pretty dismal. Twenty-four percent of families have less than $250 in their account.

This follows a report that wealth has risen to a record $263 trillion, but people (with a net worth of $1 million or more) represent a mere 0.7 percent of the planet’s population control 41 percent of its wealth.

Source: CNN

114 thoughts on “Report: Thirty-Three Percent of Chicagoans Have Less Than $250 in Bank Accounts Before Every Pay Day”

  1. Liberal policies also erode the middle class, lengthening the income gap.

    For instance, Obamacare made health insurance unaffordable to the middle class, saddling them with hundreds more a month in premiums and thousands more a year in deductibles, hurting the middle class.

    Anyone who thinks Liberals champion in the Middle Class is seriously not paying attention.

    1. If Republicans need still further proof of the economic dangers of basing a fiscal approach solely on tax cuts for the wealthy, look no further than the disaster Sam Brownback and his conservative irresponsibility has hung around the necks of his fellow Kansans. Now, that’s helping the middle class.

      Another head-in-the-sand Ayn Rand-er, frozen in perpetual educational adolescence.

  2. Chicago, the Liberal Wonderland. Deny it all you want, but it’s personifies cause-and-effect of Liberal policies.

    Liberalism, rather than Moderate Democrat, is the only political party I adamantly oppose because their policies inevitably cannot be paid for and often harm the people they’re supposed to help.

    Case in point, when they raised minimum wage and Big Box stores cancelled plans to open, taking badly needed jobs with them.

  5. @zedalis

    You said, “FYI – I have no desire to enter into a colloquy with someone so clearly racist and proudly deranged.”

    Here, let me translate that for you!

    “HOLY CRAP! Squeeky is right! The Bible Belt really is the Black Belt! OMG! What do I do now??? I can’t criticize Black people. . .they are part of our base. . .how do I answer her??? OH, I know. . .I’ll call her a racist! That always works for us Democrats! Oh, I am sooo smart to have thought of that!!!”

    You’re welcome!

    Squeeky Fromm
    Girl Reporter

  6. BTW, the new meme with liberal elite is “sure, illegal and legal immigration hurts poor Americans, but it helps foreigners even more, so we’re for it”.

  7. If you want to end poverty, end illegal immigration and immigration by poor people. A labor shortage would also help the working poor and inner-city blacks. IOW, stop importing poor people What liberal is in favor of that? None. When it comes to truly helping working or poor Americans, the left and the Democrats are always long on rhetoric and short on action.

  8. Wow, am I ever a naif??? After I posted the facts, I thought Mr. Hopsicker would apologize to the Republicans and the Christians, and instead blame and say bad things to all those irresponsible Black people who have babies without getting married first.

    Squeeky Fromm
    Girl Reporter

    1. @Squeeky Fromm
      You are really living up to your Manson Family origins today.

      FYI – I have no desire to enter into a colloquy with someone so clearly racist and proudly deranged..

  9. Isn’t that what this whole Obamacare thing is about? Medicaid expansion ……..

  11. Recently, like since the mid nineties……. Texas flipped with Bush in 1998. The problem is the governors of the red states seem to not care.

  13. Regarding the 95 of the 100 poorest countiesin America are located in red states statement:

    http://www.politifact.com/truth-o-meter/statements/2014/jul/29/facebook-posts/are-97-nations-100-poorest-counties-red-states/

    Most are in rural areas. Areas that have been historically Democrat until recently. Small counties in disadvantaged geographical areas. In States that have many many small counties so that the number of counties would be higher in a state with many counties.

    Read the link and see that your ‘talking point’ is basically bogus and not reflective of reality….but of course when has THAT ever stopped you guys.

  16. Spinelli –

    95 of the 100 poorest countiesin America are located in red states.

    Red states get more in federal dollars than they pay in taxes.

    The bible belt is America’s poverty belt including Arizona, New Mexico, Texas, Arkansas, Louisiana, Alabama, Mississippi, Kentucky, Tennessee, Georgia, and South Carolina. According to the Children’s Defense Fund, nearly one in four children trapped in Southern red states live in dire poverty.

    So much for the Repiublicon approach to fiscal health. Google; Sam nrownbach.

    1. David H – Arizona has never been considered in the Bible Belt. And New Mexico is usually considered Democratic and very liberal. The Children’s Defense Fund has its own problems and is considered a leftist progressive organization with poor research skills.

  20. Lloyd Blankfien – bankster – “Both may be criminals, but the kid in the gang is ent to prison for 20 years and the Wall street banksters’ corporation receives a fine and the bankster receives a hefty bonus.”

    Believe me, I was no fan of the bailouts. I wanted to see the banks suffer and GM go under. That is what happens when bad choices are made. When the banking thing happened I went to my Bank that holds my mortgage and I asked the guy I deal with how much they where in for. He told me they didn’t need any and they hold all of their own paper. He then went on to tell me that the govt. was forcing them to take bailout money. I told people this and they didn’t believe me and then it came out sometime later that the govt. did in fact force banks to take bailout money.

    The question I always ask is what crime did the banks break? If they played by the rules and we don’t like the result, don’t blame the players blame the rule makers. I don’t think anyone is advocating that bankers that break the rules should get a pass and criminal gang members shouldn’t.

    1. Jim22 – I know that Wells Fargo was financially stable and did not need bailout money but was forced into it. They paid it back as soon as they were allowed to.

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