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Financial Crisis in American Households: The Basic Expenses That Bankrupt the Middle Class
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More than one-third of Americans could not sustain a basic livelihood without government assistance. Almost 60 percent of seniors are dependent on the government. Why is this? This book examines how the U.S. economy's failure to deliver high-quality, universally accessible basic necessities is creating acute financial insecurity among the American middle class.
Over the past 30 years, America's middle class has grown more financially insecure. How much of this pressing problem is due to Americans' failure to restrain their spending versus their upwards spiraling―and increasingly necessary―expenditures on health care, education, and housing? And how can Americans choose between financial security and paying for essentials on a day-to-day basis? This book answers these tough questions and many more in its evaluation of a complex and contentious issue: how basic expenses of life in the 21st century are bankrupting American families.
The book begins with a snapshot of U.S. household finances, an assessment of financial insecurity's prevalence across the nation, and a description of how American households have declined into their present precarious economic situation over the last three decades. The author's analysis then looks at how European countries pursue policies that make these essentials highly accessible and postulates that the socialization of these essentials in other countries has helped to solidify household finances and maintain living standards. The work uniquely focuses on the plight of the middle class in America to provide relevant, useful information to help as many readers as possible to better understand and improve their own financial situations.
- ISBN-101440832218
- ISBN-13978-1440832215
- PublisherHoltzbrinck
- Publication dateApril 24, 2017
- LanguageEnglish
- Dimensions6.14 x 0.56 x 9.21 inches
- Print length224 pages
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Editorial Reviews
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"In this much-needed and timely book, Joseph Nathan Cohen reveals the reality of American life, a place where obtaining necessities like healthcare, housing, and a good education puts our finances in peril. Yet instead of buttressing our social safety net, we've pulled back, castigating individuals for overspending when, in many cases, it's forces beyond their control that are leading to their money woes. If you want to understand why so many people feel no one in a position of power is listening to them or offering them help, reading Financial Crisis in American Households is a necessity."
--Helaine Olen, "The Bills," Slate
About the Author
Product details
- Publisher : Holtzbrinck (April 24, 2017)
- Language : English
- Hardcover : 224 pages
- ISBN-10 : 1440832218
- ISBN-13 : 978-1440832215
- Item Weight : 1.12 pounds
- Dimensions : 6.14 x 0.56 x 9.21 inches
- Best Sellers Rank: #4,898,341 in Books (See Top 100 in Books)
- #408 in Social Security (Books)
- #1,136 in Income Inequality
- #3,129 in Marketing & Consumer Behavior
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About the author

Assistant Professor of Sociology in Queens College in the City University of New York. Earned Ph.D. in Sociology from Princeton University in 2007.
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