50% of Americans Couldn't Come Up with $2000

[Fair&Balanced]

Originally Posted by classicman

Many have been taken care of via government programs as well. They have never learned to be self sufficient. They've never had to be. Its frightening the number of [people who have no clue about any of it. And their numbers are increasing dramatically. There is an entire subculture of those who have always existed on an income derived from someone else. They have never been independent. ]
Is it 50%? I wouldn't have thought so, but perhaps it is. The questions were probably left open-ended intentionally so as NOT to provide hard facts. That way the politicos can use the "info" and interpret it for their own benefit.

Whoa.

I'm not sure what you mean here, but it sounds like you are suggesting that there are millions of "welfare queens" or similar types who live off of government handouts for life and the number is growing, when in fact, most individuals and families receiving some form of social assistance (TANF, SNAP, etc) are relatively short term and the number was declining over the last 10-15 years (since welfare reform) until the recession.

On the issue of numbers maxed out on credit cards, those with the lowest income, up to $25K, have a higher rate of always paying off the balance than those making between $25-100K.

http://www.census.gov/compendia/stat...es/11s1190.pdf

I hope I am wrong about the first comments (never learned to be self-sufficient...an entire subculture...always existed on an income derived from someone else) and it was just my misunderstanding of your position.

I would suggest that probably most Americans never learn good financial management practices in a formal manner. IMO, it should be part of a high school curriculum.