According to democratic socialist Alexandria Ocasio-Cortez, the COVID-19 pandemic is proving that the United States "Is a brutal, barbarian society for the vast majority of working-class Americans." As evidence of this, she claims that "40% of us couldn't even afford a $400 emergency" before this crisis, and COVID-19 "Is more than a $400 emergency."
Government social programs, which AOC seeks to enlarge, depress workers' savings, causing the very outcomes that she decries.
Middle- and low-income Americans are more financially capable of handling COVID-19 than the bulk of people in most developed countries, including those who live in more socialistic nations that AOC says the U.S. should emulate.
In a recent video, Congresswoman Alexandria Ocasio-Cortez declared: "This is supposed to be the richest society in the world, and I think what this crisis is showing us is that this is only a rich society for a very small amount of people, and it is a brutal, barbarian society for the vast majority of working-class Americans because 40% of us couldn't even afford a $400 emergency before this thing started. This is more than a $400 emergency, and we're really going to have to step up and completely change our approach to our public systems."
The statistic cited by AOC stems from an annual Federal Reserve study of people's "Self-reported ability to handle unexpected expenses." Contrary to her claim that "40% of us couldn't even afford a $400 emergency," the survey actually finds that 12% of U.S. residents fall into that category.
The federal government defines these as "Payments from social insurance funds, such as social security and Medicare, and payments providing other income support, such as Medicaid and food stamp benefits." These alone are on par with the total average household income of Eastern Europe, including both private earnings and government benefits.
Such levels of government social spending, which AOC wants to increase, are the main reason why many workers don't save more of their income.
https://issuesinsights.com/2020/04/25/fact-check-aocs-baseless-accusation-that-the-u-s-is-a-brutal-barbarian-society/
Government social programs, which AOC seeks to enlarge, depress workers' savings, causing the very outcomes that she decries.
Middle- and low-income Americans are more financially capable of handling COVID-19 than the bulk of people in most developed countries, including those who live in more socialistic nations that AOC says the U.S. should emulate.
In a recent video, Congresswoman Alexandria Ocasio-Cortez declared: "This is supposed to be the richest society in the world, and I think what this crisis is showing us is that this is only a rich society for a very small amount of people, and it is a brutal, barbarian society for the vast majority of working-class Americans because 40% of us couldn't even afford a $400 emergency before this thing started. This is more than a $400 emergency, and we're really going to have to step up and completely change our approach to our public systems."
The statistic cited by AOC stems from an annual Federal Reserve study of people's "Self-reported ability to handle unexpected expenses." Contrary to her claim that "40% of us couldn't even afford a $400 emergency," the survey actually finds that 12% of U.S. residents fall into that category.
The federal government defines these as "Payments from social insurance funds, such as social security and Medicare, and payments providing other income support, such as Medicaid and food stamp benefits." These alone are on par with the total average household income of Eastern Europe, including both private earnings and government benefits.
Such levels of government social spending, which AOC wants to increase, are the main reason why many workers don't save more of their income.
https://issuesinsights.com/2020/04/25/fact-check-aocs-baseless-accusation-that-the-u-s-is-a-brutal-barbarian-society/
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