Social Issues

Earlier this week we highlighted "Six Terrifying Graphs That Summarize America's Public Pension Crisis" which ranked state, county and city-level public pensions in the United States by which are screwed the most.  To summarize, the study concluded that public pensions in the U.S. alone are currently underfunded by nearly $4 trillion and that taxpayers in Illinois, California and New Jersey should probably be looking to move before getting drowned in their state's coming pension-induced tax hike tsunami.

Authored by Michael Snyder via The Economic Collapse blog,

Gallup released a poll Thursday showing that overall stock ownership among US adults remains 8 percentage points below its pre-crisis level. But even as the crisis appears to have scared many Americans away from owning stocks, there are two demographic subgroups where ownership has held firm: Adults aged 65 and older and those with an annual household income of $100,000 or more.

Top congressional Democrats, including Senate Minority Leader Chuck Schumer, House Minority Leader Nancy Pelosi, House Minority Whip Steny Hoyer and Bernie Sanders, held a press conference earlier today to officially introduce their "Fight For $15" minimum wage legislation, dubbed the Raise the Wage Act.  Among other things, the bill primarily serves to more than double the federal minimum wage from it's current level of $7.25 to $15 by 2024. 

Authored by Michael Snyder via The Economic Collapse blog,