There are so many controversial and painful political situations these days, that it is difficult to pick which one is the most troublesome. One thing is for sure, both the Democrats and Republicans are going to have lots of fancy dancing and spin doctoring to do when the next elections arrive.
Which political problem is the worst to a person probably just depends on which situation is the closest to a person’s well-being. Here are a few of the issues America is dealing with currently. Here’s a warning, though: authoritative information is painful and it hurts.
High Cost of Living
If you don’t see inflation everywhere, you are not looking for it. It’s here. According to the current annual inflation rate statistics calculated by the website inflation data dot com, this is what we are dealing with lately in 2011: Jan. 1.63% , February 2.11%, March 2.68%, April 3.16%, May 3.57%, and June came in at 3.56%.
Federal Deficit
Who knows what the real number is, but the fact is it’s in the billions and growing every day. George W. Bush had a budget surplus in 2001 that he got from the Clinton administration. in the space of a year, the surplus became a negative number, and then came the mortgage and credit crunch.
It’s bad and getting worse. There are those who believe that in three years America will be in the same situation as Greece and Ireland. It could happen sooner, of course, which has resulted in a strong community of people who are preparing for the stuff to hit the fan.
The Office of the Congressional Budget (CBO) has pointed out the distinction between the political numbers being circulated and the actual mathematical truths.
State and Local Shortfalls
Heavy foreclosures, decreased real estate values, and more people without jobs has resulted in budget sadness at the state and city levels.
Unemployment
Even if we hit a month where the number of people out of work goes down, take it with a grain of salt because it’s all done with smoke and mirrors. The number is calculated off a telephone survey. What person out of a job is going to answer the phone and tell an anonymous caller that they don’t have work? Add to that the fact that we are losing factory job opportunities. The ones we are adding are in the service industry, which is well known for being a low paying job sector.
Retirement
People are worried about how they are going to make ends meet after retirement. Every day ten thousand baby boomers become eligible for social Security, and everyone knows you can’t live on that for very long.
Housing Industry
The economy of the United States revolves around the housing sector. It is what puts people to work, and what keeps the economy vibrant. Nowadays people can’t get home loans, home values have decreased, and this part of the economy is languishing amidst a long and extraordinarily gradual recovery.
Pollution
Most pollution comes from power plants. Most power plants get their energy from oil and coal. This makes this industry the single biggest polluter.
Data of the Environmental Protection Agency was used to compile a list of the twenty worst affected states. These include (with the worst ones first) Ohio, Pennsylvania, Florida, Kentucky, Maryland, Indiana, Michigan, West Virginia, Georgia, North Carolina, South Carolina, Alabama, Texas (lucky #13), followed by Virginia, Tennessee, Missouri, Illinois, Wisconsin, New Hampshire, and Iowa pulls in at number twenty.
It is going to be an interesting political perfect storm for all of the coming elections. To keep your financial plan on track, it is important to stay current with the latest news and information.