Quote:
Originally Posted by NORMAL550GIRL
You seem to miss the obvious: anybody that is really living that way while on government assistance is already doing something illegal. No way you can afford plasma screens and $60 video games on food stamps and unemployment.
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Let us suppose an ostensibly middle-class family living well beyond its means with two wage earners and two children. Let us also suppose an expensive house, a mortgage to match, and a home equity loan on top of that. Toss in two one year old vehicles, each loaded with debt. Also toss in student loans. Add in high credit card debt. In addition, suppose minimal savings. By the way - home equity is substantially less than total debt.
Now suppose both wage earners lose their jobs.
They would still have a vast array of stuff - with modest resale value. They would have no income or liquid assets.
They might well need assistance.
By the way - I'm quite serious about the 2020 time frame. I think we'll see many people who fit the profile above, and they will need (and be grateful for) the beans and a cot.
However - they may be quite resentful of their fall. Therein, perhaps, lies a hint at where the political environment in the U.S. will go.