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Personal Finance
Recession hits families hard as half of Americans fear they won't be able to do their holiday shopping
One in five Americans lost a sizeable amount of their disposable income during the recession, leaving them financially vulnerable and without many options.
U.S. Household Debt Fell 0.6% in Third Quarter, New York Fed Survey FindsCaroline Salas Gage Bloomberg.com 11/28/2011 | Some 15% of U.S. Uses Food StampsPhil Izzo The Wall Street Journal 11/02/2011 |
 Household debt in the U.S. declined by 0.6 percent in the third quarter as mortgage balances shrank, according to a survey by the Federal Reserve Bank of New York. |  Nearly 15% of the U.S. population relied on food stamps in August, as the number of recipients hit 45.8 million. Food stamp rolls have risen 8.1% in the past year, the Department of Agriculture reported, though the pace of growth has slowed from the depths of the recession. |
A Long, Steep Drop for Americans' Standard of LivingRon Scherer CNBC 10/20/2011 | US unemployed get 12 months rent-free under policy changes The Wall Street Journal 07/07/2011 |
 Think life is not as good as it used to be, at least in terms of your wallet? You'd be right about that. The standard of living for Americans has fallen longer and more steeply over the past three years than at any time since the US government began recording it five decades ago. |  The Obama administration will require mortgage companies to extend more generous mortgage relief to help certain unemployed borrowers from losing their homes to foreclosure. |
NYC Pension Funds Rose Most in 13 Years in Fiscal 2011, Comptroller SaysSarah Frier Bloomberg.com 07/05/2011 | Millions of UK households face record high energy billsMyra Butterworth Telegraph 06/07/2011 |
 New York City’s pension funds gained the most in 13 years last fiscal year after the hiring of new asset managers and improved stock and bond markets, Comptroller John Liu said. |  Millions of households were warned last night that they face “unacceptable” rises in their energy bills after one of the biggest power firms announced average increases of nearly £200 a year. |
US Cost of Living Hits Record, Passing Pre-Crisis HighJohn Melloy CNBC 03/17/2011 | US States Warned of $2 Trillion Pensions ShortfallNicole Bullock CNBC 01/18/2011 |
 One would think that after the worst financial crisis since the Great Depression, Americans could at least catch a break for a while with deflationary forces keeping the cost of living relatively low. That’s not the case. |  US public pensions face a shortfall of $2,500 billion that will force state and local governments to sell assets and make deep cuts to services, according to the former chairman of New Jersey’s pension fund. |
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