Most Popular Choices
Share on Facebook 6 Printer Friendly Page More Sharing
General News   

American Population Passes 300 Million; Despite Great Wealth Average American is Unhappy

By       (Page 1 of 3 pages)   No comments
By John E. Carey
October 18, 2006

In case you missed it, the population of the United States passed the 300 million person mark at approximately 7:46 a.m. Eastern Times on Tuesday October 17, 2006, according to the U.S. Census Bureau.

America is, by many measures, the wealthiest country in the world. Despite that, many Americans are unhappy. Mark Clements Research conducted a survey of Americans for Parade Magazine last April. The findings? 48% of Americans believe they're worse off than their parents were.

The GFK-Roper conducted a study in June that found 66% of Americans said their personal situations in the "Good Old Days"--defined as the era between the 1950s and the 1980s--were better than they are today. In May, a Pew Research Center poll showed that half of U.S. adults believe the current trends point toward their children's future being worse than their own present.

But the facts show that Americans should be happier. Largely due to soaring real estate values, the typical American household has a net worth of $465,970, up 83% from 1965, 60% from 1985 and 35% from 1995.

But there is a problem with this measure as the money or value in your house or property is not generally "spendable."

Economist Milton Friedman espouses something called "Permanent Income Theory." This theory says that most people measure where they are relative to where they expected to be a few years ago. They don't care that when actually measured, they are "wealthier" than before. They don't feel better off.

Other population factors like urban crowding and our increasingly congested traffic on the roads influences Americans toward believing that they are not better off.

"If you expect a 3% rise in income and you get 2.5%, you're disappointed," says Ken Goldstein, an economist at the Conference Board, a private research group in New York.

Here are some of the facts and figures relative to our growing population:

--According to the Pew Hispanic Center, it has been 39 years since the U.S. population reached 200 million. Since then, about 55 percent of the growth has come from immigrants, their children and their grandchildren.

--If the U.S. had cut off all immigration since 1967, the population would be about 245 million - and a lot less diverse, said Jeffrey Passel, a senior demographer at the center.

--According to Passel, "We've had much more Asian and Latino immigration than white and black. That has led to the racial and ethnic diversity that we have today."

--At the top of our society, the super rich are getting richer. Wal-Mart Chief Lee Raymond "earned" $19 million last year. That was 410 times what the average American made, as opposed to the $469,000 a year earned by Exxon's Ken Jamieson in 1975, which was a mere 40 times more.

--Tiger Woods "earned" $87 million last year.

-- Bill Gates had a net worth of $53 billion last year or 133,741 times that of the average American.

Next Page  1  |  2  |  3

(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).

Rate It | View Ratings

John Carey Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

John E. Carey is the former president of International Defense Consultants, Inc.
Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines

 
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEd News Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Myanmar Shuns Best Hope For People

Human Rights Issues In Communist Southeast Asia: Red Alert

Memorial Day History, Tradition, Honor: Remembering the Fallen

Persian Gulf Ship Inspectors-- The Brits Captured by Iran

Baker, Hamilton Commission on Iraq Reports

World Alzheimer's Awareness day

To View Comments or Join the Conversation:

Tell A Friend