With the government just hours away from running out of money for a wide range of programs, the House of Representatives approved on Friday a nearly $1 trillion spending bill. The Senate most likely will pass it on Saturday and send it to President Barack Obama to sign into law.Meanwhile . . .
The House vote approving the spending bill was 296-121, with about a third of the chamber's 242 Republicans voting no. [emphasis, link added]
50 Facts About The U.S. Economy That Will Shock You
1. A staggering 48 percent of all Americans are either considered to be “low income” or are living in poverty.Rich Can Pay for It All . . . NOT
2. Approximately 57 percent of all children in the United States are living in homes that are either considered to be “low income” or impoverished.
3. If the number of Americans that “wanted jobs” was the same today as it was back in 2007, the “official” unemployment rate put out by the U.S. government would be up to 11 percent.
4. The average amount of time that a worker stays unemployed in the United States is now over 40 weeks.
5. One recent survey found that 77 percent of all U.S. small businesses do not plan to hire any more workers.
6. There are fewer payroll jobs in the United States today than there were back in 2000 even though we have added 30 million extra people to the population since then.
7. Since December 2007, median household income in the United States has declined by a total of 6.8 percent once you account for inflation.
8. According to the Bureau of Labor Statistics, 16.6 million Americans were self-employed back in December 2006. Today, that number has shrunk to 14.5 million.
9. A Gallup poll from earlier this year found that approximately one out of every five Americans that do have a job consider themselves to be underemployed.
10. According to author Paul Osterman, about 20 percent of all U.S. adults are currently working jobs that pay poverty-level wages.. . . .
"According to Internal Revenue Service data, the entire taxable income of everyone earning over $100,000 in 2008 was about $1.582 trillion," reported the Wall Street Journal on the morning after Obama's speech. "Even if all these Americans — most of whom are far from wealthy — were taxed at 100 percent, it wouldn't cover Mr. Obama's deficit for this year."Unsustainable.