Pocketbook Pain: The Rapidly Rising Cost Of Living Is Absolutely Killing The Middle Class In America

The cost of just about everything that average families shell out money for on a regular basis is rising much faster than wages are

One of the primary reasons for this is the rapidly rising cost of living in the United States. The cost of just about everything that average families shell out money for on a regular basis – food, rent, health insurance, etc. – is rising much faster than wages are. In a previous article I noted that the federal poverty level for a family of five is $28,410, but 51 percent of all American workers are making less than $30,000 a year at this point. We have seen an explosion in the number of people in this country that are considered to be “the working poor” and it gets worse with each passing year.

One of the most frustrating things for me personally is the rising cost of health insurance. Barack Obama promised that his program would result in a decline in health insurance premiums by as much as $2,500 per family, but in reality average family premiums have increased by a total of $4,865since 2008.

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