November 25, 2013
Once upon a time, America was the wealthiest nation on the entire globe by a huge margin and it had the largest and most thriving middle class the world had ever seen. But now America is drowning in the biggest ocean of red ink in the history of the planet and the middle class is being systematically destroyed.
If you read my articles on a regular basis, you already know all of this. But now there are certain factors that are going to cause the problems of the middle class to greatly accelerate.
For instance, just consider what Obamacare is going to do to millions of American families.
The Foundry recently posted a story that detailed the extreme hardship that Obamacare is going to impose on one middle class family in Sonora, California. This particular family is very healthy and does not have a history of health problems. Up until now, they have had a health insurance policy with Anthem Blue Cross Insurance that they have been very happy with.
Back in 2011, this family was paying $389 a month for health insurance.
In 2012, due to changes in California law that figure went up to $499 a month.
Now, this family has just received a letter informing them that their current plan is being canceled and that if they want a new plan it is going to cost them $1,252 a month.
Needless to say, that news did not go over very well with that family.
Just think about it.
Can you come up with an extra $753 a month for health insurance?
Most American families certainly cannot.
Well, Kate Joy and her husband sat down and started trying to figure out how they could squeeze the new health insurance policy into their budget. It turned out that they would have to cut out a lot of things. The following is a list of the proposed cuts that they have come up withso far...
- Stop paying the extra payment on my mortgage: $100/month
- Stop eating out: $150/month
- Don’t go to the movies: $36/month
- Switch to getting a haircut every other month: $15/month
- Stop getting manicures: $40/month
- Stop monthly charitable donations to Wounded Warrior and Habitat for Humanity: $70/month
- Stop saving for an annual anniversary getaway: $60/month
- No Christmas gifts to extended family: $40/month
- Quit buying beef at the grocery store: $100/month
- Teeth cleaning only once per year: $30/month
- Cancel all magazine/newspaper subscriptions: at least $30/month
- Cut DISH service to cheaper plan: $50/month
- Cancel land line phone service: $70/month
If they make all of those cuts, it will save the family $791 a month.
Understandably, that family is having a very hard time feeling optimistic about the future right now. In fact, at the end of the article Kate Joy is quoted as saying the following...
Read the entire article"I fear for what’s coming."
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