Rich Country, Poor People

The United States is currently in the "Great Recession" and the state of California is no exception. At present, the nationwide unemployment rate stands at 8.7%; the state of California's unemployment rate is much higher at 11.7%. How is this economic downturn affecting California families?

There are approximately 37,000,000 people living in the state of California, and 12% of them are living below the poverty line. 5 million Americans are poor today, who weren't in 2000. In the United States, 1 in 8 people now live below the poverty line and 1 in 3 Americans are considered low-income. The numbers get even worse when you consider the fact that 1 in 5 American children are poor, or 17.6 percent. In the state of California, there are currently 3 million people on food stamps, and there are approximately 3 million more that are eligible, yet are not participating.

America is the richest nation in the world, yet 37 million Americans, as many people that are in the state of California, live below the official poverty line and millions more struggle each month to survive. Poverty has far-reaching consequences, causing increased crime, broken homes, broken marriages, drug abuse and homicide. Insufficient education and insufficient resources create a vicious cycle, which can take generations to overcome. If you would like information about how bankruptcy may be able to help your financial situation, contact a Los Angeles bankruptcy attorney.

What is the poverty line? Today that number is set at $19,971, yet if you are a native Californian, you know that it's impossible to survive on that much money, especially if you are supporting a family. Most people will spend that much on rent in a year for a small 2 bedroom apartment. Poverty has reached epidemic proportions in the United States and in the state of California. It's no wonder why nearly 1.5 million individuals filed for bankruptcy in 2010. Today, countless individuals and businesses are finding answers in bankruptcy protection. If you are suffering from overwhelming debt due to a job loss, a pay cut, a medical emergency, an underwater mortgage or any other circumstance that brought you to where you are today, contact a Los Angeles Bankruptcy lawyer from the Pacific Attorney Group for sound advice.

Contact a Los angelesbankruptcy attorney from our firm for a free initial consultation.