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During the 1980s, 13% of Americans age 40 to 50 spent at least one year below the poverty line; by the 1990s, 36% did.

Since 2000, the number of Americans living below the poverty line at any one time has steadily risen.
Now 13% of all Americans—37 million—are officially poor.

Among households worth less than $13,500, their average net worth in 2001 was zero!
By 2004, it was down to –$1,400.

President Bush’s tax cuts (extended until 2010) save those earning between $20,000 and $30,000 an average of $10 a year, while those earning $1 million are saved $42,700.

Sen. Charles Grassley (R-Iowa) called people who cite statistics such as the ones above Adolf Hitler! What happened to freedom of speech, let alone knowing the facts. True conservative would not be upset by these statistics because they blame the individuals themselves, not capitalism.

Since 1983, college tuition has risen 115%.
The maximum Pell Grant for low- and moderate-income college students has risen only 19%.

52% of poor college-qualified students go to a 4-year college.
83% of richer qualified students do.

The Consumer Price Index for urban dwellers is up 25% since the federal minimum wage was last raised.

Inner-city grocery stores sell milk for 43% more than suburban supermarkets.

Corn subsidies have helped the price of soda fall 30% since 1983. Meanwhile, the price of fruit has risen 50%.

Per capita, the NIH (National Institute of Health) spends $68 on diabetes, which disproportionately affects the poor,
and $1,414 on Lyme disease, which is named after a suburb in Connecticut.

63% of federal housing subsidies go to households earning more than $77,000.
18% go to households earning less than $16,500.

Mortgages and Money Issues
Today, 1 in 4 sub-prime lenders are predatory, charging recipients 7% in up-front fees.
Conventional or “prime” mortgage users are charged only 1%.

2% of prime mortgages carry prepayment penalties.
80% of sub-prime ones do.

Since 1986, the number of pawnshops in the U.S. has increased by 142%.

In Chicago’s poorest areas, the ratio of check-cashing outlets to banks is 10-to-1.
Check-cashing fees for a worker who brings home $18,000 a year add up to about $450 —that’s 2.5% spent just to access income.

Nationwide, the number of payday lending outlets has risen 11,000% since 1990.

The average annual interest rate on a payday loan is more than 400%, costing borrowers $3.4 billion a year.
By claiming customers are “renting” goods, rent-to-own stores avoid usury laws that require businesses to disclose and cap interest rates—commonly over 300%.

Credit card late fees are 194% higher than in 1994.
The average credit card balance for house­holds earning less than $35,000 is $4,000.
At 11.5% APR, making the standard minimum payment of 2% per month, it takes 13 years to pay off a $4,000 balance.

This article has been made possible by the Foundation for National Progress, the Investigative Fund of Mother Jones, and gifts from generous readers like you.

© 2006 The Foundation for National Progress