The “Real” America: Near Record 20% Struggle To Afford Food, Highest Since Crisis Began
Submitted by Tyler Durden on 09/12/2013 10:00 -0400e5
With US equity markets on a 7-day roll and excited TV anchors proclaiming the worst over and new all-time highs must signal recovery as they ‘celebrate’ five years on from Lehman, the following two charts of the state of real America should open a few eyes to just how blinded American has become to the truth (unless you live it). A stunning 20.0% of Americans were found to have struggled to afford food in the last year – surging in recent months to its highest since the peak of the crisis in 2008 – as American’s ability to consistently afford food has not recovered to pre-recession levels. Furthermore, Americans access to basic needs (13 factors including housing, healthcare, and food) hovers near record lows – dramatically lower than pre-recession levels. The Gallup polls point to a very different image of American than Dow 15,000 – and is set to get worse as the food stamp program is set to be cut in November.
More Americans are struggling to afford food — nearly as many as did during the recent recession. The 20.0% who reported in August that they have, at times, lacked enough money to buy the food that they or their families needed during the past year, is up from 17.7% in June, and is the highest percentage recorded since October 2011. The percentage who struggle to afford food now is close to the peak of 20.4% measured in November 2008, as the global economic crisis unfolded.
Americans remain as likely to have access to basic necessities in general now as they were in October 2011, when it was at its lowest point. The Basic Access Index, which includes 13 questions about topics including Americans’ ability to afford food, housing, and healthcare, was 81.4 in August, on par with the all-time low of 81.2 recorded in October 2011.