by Michael Snyder, The Economic Collapse Blog:
By the time you are done reading this article, you may be tempted to tear your hair out. A substantial portion of the U.S. population is deeply struggling in our current economic environment, but instead of focusing on helping Americans that are hurting, homeless and hungry, our leaders are going to great lengths to make things better for those that have no legal right to be in this country. Our priorities are way out of whack, and U.S. voters are fed up. Immigration has become the hottest political issue during this campaign season, but many of our politicians still don’t seem to understand why so many of us are so frustrated with what has been going on.
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Let me give you some examples of what I am talking about.
It is being reported that more than half of all Americans over the age of 65 “are living on incomes of $30,000 or less a year”…
And, for some, the retirement crisis is already here. Just over half of Americans over the age of 65 are living on incomes of $30,000 or less a year, according to the Census Bureau’s Current Population Survey. The largest share — just under 23% — have incomes between $10,000 and $19,999.
Millions of elderly Americans are barely surviving at this point.
Meanwhile, the Biden administration has been flying hundreds of thousands of migrants that have no legal right to be here directly into the country…
It means that while record numbers of migrants were flowing over the southern border last year, the Biden White House was also directly transporting them into the country.
Use of a cell phone app has allowed for the near undetected arrival by air of 320,000 aliens with no legal rights to enter the United States.
It comes after a controversy over a 2022 transportation program in which the administration used taxpayers money to move migrants throughout the country on overnight flights.
You have got to be kidding me.
Let me give you another example.
Since 2020, the income needed “to comfortably afford a home in the US” has gone up by 80 percent…
According to Zillow, the income needed to comfortably afford a home in the US has leapt 80% since 2020, far exceeding what the BLS reports has been a 23% increase in median household income over the same period.
The real estate website found home buyers today need to make more than $106,000 a year, up $47,000 from 2020, a change driven largely by higher prices and borrowing costs.
“Housing costs have soared over the past four years as drastic hikes in home prices, mortgage rates and rent growth far outpaced wage gains,” said Orphe Divounguy, a senior economist at Zillow.
But instead of doing something about that, politicians in California actually want to provide interest-free home loans with no down payment required to newly arrived migrants…
Assembly Bill 1840 would change existing law to allow illegal immigrants to be eligible for the California Dream for All Fund, which provides interest-free loans for a down payment on a home for first-time buyers.
The bill was introduced by California Assemblyman Joaquin Arambula, a Democrat, who last month told GV Wire, a Fresno-based news outlet, that he “wanted to ensure that qualified first-time homebuyers include undocumented applicants.”
You have got to be kidding me.
Don’t stop reading now, because there is more.
On Thursday, we learned that the number of layoffs in the U.S. last month was the highest total that we have seen during February since 2009…
The pace of job cuts by U.S. employers accelerated in February, a sign the labor market is starting to deteriorate in the face of ongoing inflation and high interest rates.
That is according to a new report published Thursday by Challenger, Gray & Christmas, which found that companies planned 84,638 job cuts in February, a 3% increase from the previous month and a 9% jump from the same time last year.
It marked the highest layoff total for the month of February in data going back to 2009.
That is terrible news.
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