Here at home, we see the ever-widening gap in our wealthiest cities — New York, San Francisco, LA — which are suffering from homeless crises of epic proportions. Forty percent of Americans don’t have $400 saved in case of emergency. Last year, 68 percent couldn’t afford a recreational activity — from a vacation to concerts to a professional sporting event to even dinner or a movie — for lack of funds.
This year, the Census Bureau reported that the gap between the rich and poor has hit its highest level in the 50-plus years since they began marking it. Adjusting for inflation, the average household income is the same as it was 20 years ago. The average American can’t afford to buy a house in 70 percent of the country.
More here.
