Misconception of United States as the Richest country in the world

Americans have always had a misconception that their nation is a land of good luck when it comes to its wealth in comparison to other nations of the world. But when it comes to reality, American citizens are having a hard time in trying to make ends meet as a result of economic hardship that the nation is facing. From New York, Gabriela Esquivadah but rather an average nation in comparison to other rich countries of the earth.

“The United States hasn’t lost the war on poverty, said educator Gene Nichol of the Center on Poverty, Work and Opportunity at the University of North Carolina, one of 10 expresses whose destitution rates are higher than the national norm, with 17 percent. “Part of the way through the 1970s the nation included decreased poverty among the elderly population by 66% and by 60 percent in kids. America still has lost in battling newborn child mortality, and it’s discernible rights around a fourth of our kids live in destitution, (which is) a colossal humiliation for the country regarded as the wealthiest on earth.”

Maybe on account of its reputation for being the place where there are many ways of succeeding, today the mystery of the US is that it has “become in different ways poorer to my of view as well as being more discriminatory,” and at the same time, Nichol suggested. “Even as the wealthiest nation on earth, our poverty levels, kid destitution levels and salary disparity are a portion of the most exceedingly awful in the current world. “According to official information from 2012 ahead, destitution influenced 15.1 percent of US nationals, or 46.5 million individuals, while, in view of a moment government technique that tallies elective wellsprings of family unit pay, this figure ascends to 16 percent or 49.7 million individuals

The most intense poverty is mostly realized with the black  and “Hispanic” people group (27 and 25.6 percent, separately), minors under 18 years old (21.8 percent) and, most importantly, kids younger than six (24.4 percent) and youngsters under six who lived in single-parent families (56 percent). Ladies are poorer than men (16.3 percent more than 13.6 percent) and procure 70 pennies to each dollar brought home by a man from a similar activity.

For a four-man family living on US$23,492 a year, a normal college instruction costs US$20,000. As indicated by official information, perishables eat up around 33% of that pay, while on Craigslist, a one-room condo costs by and large US$800 every month relying upon the condition it is in. What’s more, this winter the coldest in 20 years — sent power charges taking off: US$66 every month in Florida (FPL), US$91 in North Carolina (Duke Energy) and US$130 in Illinois. This saw many individuals choosing between spending the same sum of goods or keeping up the house at 17-degrees Celsius. Also, in a nation without real open transport foundation, besides in a couple of real urban areas, autos are out and out a need for individuals needing to get the chance to work. A shoddy utilized auto (for instance, a Toyota Corolla 2009) territories from US$9,000 to US$11,500 in cost, with the protection (which would fluctuate in light of various elements, including the state of the vehicle and the proprietor’s driving record) costing amongst US$200 and US$300 a month. Fuel costs change, yet topping  off a Corolla to drive its full 671 kilometers, costs by and large US$35.

Fraser clarified that his association offers nourishment to 37 million individuals every year and that the display has turned out to be bleaker as of late: “In the vicinity of 35 and 38 million Americans endured sustenance weakness — the term utilized for the individuals who have no assurance they’ll eat each day — in the vicinity of 2001 and 2006; that figure rose to 49 million of every 2007, when the subsidence hit us. From that point forward it’s floated in the vicinity of 49 and 50 million individuals

The Feeding America representative called attention to that today “one in each seven Americans lives on or underneath the destitution line, and one in each seven gets sustenance coupons (the Supplemental Nutrition Assistance Program, which is US$133 every month or all things considered US$4.38 every day) and one out of seven endures nourishment instability.” According to Fraser, “financing for government sustenance programs is required; if joblessness and neediness are lessened, so too is hunger.” Corbett scrutinized the procedure used to compute destitution figures, which generally has not been adjusted since the 1960s: “Essentially, the neediness line is low, and poor families aren’t ready to depend on assets from the many types of government help,” he said. In any case, that doesn’t detract from the issue of destitution, nor push it to the fore: “The genuine issues now are developing disparity in wage, riches, and openings,” he included.

President Barack Obama had demonstrated some worry about the issue in late discourses about the absence of social portability in the US: “This pattern towards developing imbalance isn’t exceptional to America’s market economy. Over the created world, the disparity has expanded… in any case, this expanding imbalance is most articulated in our nation, and it challenges the very substance of our identity as a people.” According to the former president, the disparity is awful for an economy, as it debilitates development and makes a space for more continuous retreats, influencing social attachment and harming democracy. In the greater part of this, record disparity levels are not new. In 2007, just before the Global Financial Crisis, one percent of the most elevated gaining US residents oversaw 24 percent of the nation’s riches, assumes that are precisely the same as those of 1928, just before the Great Depression, Corbett noted.

“Developing disparity is one of the central issues of our period, alongside a dangerous atmospheric deviation. It has expanded since the 1980s. In spite of the fact that it was decreased quickly amid this retreat, it’s by and by expanding drastically as money related markets recuperate. Amid the Obama years, the pattern in neediness has been upward. From my point of view, he acquired an unpleasant economy from his ancestor and made a decent showing with regards to halting the nation and the world falling into a cataclysmic sorrow. Be that as it may, he beguiled a few people by not using forceful boost approaches to goad monetary development and prevent manhandle from inside the money related market. Obviously, political division leaves a couple of alternatives.”

As per official information, the US white collar class is characterized as having a family unit pay of US$51,017 every year. Fruitful experts in territories like law and prescription are arranged in the one percent of residents procuring the most, or US$380,000 a year. In any case, this one percent is in actuality, for the most part, contained fruitful business people, who procure US$1million to US$3 million a year. Its more elite classes are comprised of CEOs of monetary firms and Hollywood and games stars who win around US$10 million a year, as indicated by the narrative by Jacob Kornbluth Inequality for All, described by previous work secretary to Bill Clinton and current teacher at the University of California Berkeley, Robert Reich.

Along these lines, one subject wins US$10 million every year, while the other — restricted by destitution — acquires US$11,720. Both pay charges. Relatively, both pay not as much as the individual procuring US$51,017 every year. A scope of duty changes (the latest under George W. Shrubbery) have left the level of state and nearby expenses connected to the greatest pay rates (the one percent) at 5.6, the Institute on Taxation and Economic Policy reports.

The offspring of the primary individual will have first-rate postgraduate degrees, while the offspring of the second individual will think that its hard to complete auxiliary school; 22 percent of the individuals who survive a time of neediness amid adolescence don’t complete school, an assume that ascents to 32 percent of the individuals who spend a large portion of their youth in destitution, agreeing the Children’s Defense Fund. What’s more, would it even be important to include that a hole in instructive encounters makes a hole in income? These are only probably the most unmistakable components of disparity, something Obama depicted as “an essential danger to the American Dream, our lifestyle, and what we remain for around the world.”

There are 11 million individuals at present out of work in the US. Just about 33% of them have not discovereErin Cumberworth, a specialist at the Stanford Center on Poverty and Inequality, went further: “Most salary disparity is driven by an expansion in the part of wages of the best five percent of workers. The greatest livelihoods have developed in light of the fact that the normal pay of CEOs has taken off: in 1965 the normal CEO earned 24 percent more than the normal specialist; in 2009, it was 185 more. “But in his paper, Corbett utilizes an alternate year as the premise of examination: 1973, when neediness achieved its least levels in US history, 11.1 percent. That year, a specialist earned 27 times not as much as a corporate CEO; in 2008, it was 262 times less. For Cumberworth, disparity is very particular from the weakening of conditions for the lower echelons of the work showcase, where she sees a substantially more critical issue with regards to neediness: “A developing number of individuals are jobless or out of the workforce, and for an incompetent laborer it’s getting to be noticeably increasingly hard to discover stable work.”


The level of joblessness has dropped to 6.6 percent, yet this is an extensive part in light of the fact that many individuals have essentially quit looking, Jeff Madrick portrayed in his article           “Obama’s Toughest Job” in The New York Review of Books, where he dismembers the approach used to gauge disparity: “Business to-populace levels recommend the genuine rate is most likely more like nine percent. Minorities have been pulverized. Td an occupation in a half year or more, while in a few states like New Jersey or Florida, that segment ascends to half. A significant number of the employment that has been made in the private part since the claimed end of the retreat in 2009 need general hours or advantages like medical coverage, wiped out leave or occasions, while one out of four of them pay the lowest pay permitted by law (amongst US$7.25 and US$10.10 every hour relying upon the state), which in numerous family units isn’t sufficient to live on, even with a standard 40-hour working week.

“The work showcase never completely recuperated after a generally delicate subsidence that started toward the begin of the Bush administration in 2001 and increased toward the finish of his term, late 2007,” Cumberworth outlined.”It’s enhanced amid the Obama years yet not as much as we would have sought after the retreat. The issues in the work advertise have kept on developing since the 1970s — the main time of solid development — and the main time we completely recouped from a retreat was toward the finish of the 1990s under Clinton.”

As Cumberworth would see it, the most concerning issue right now is the “powerlessness of individuals — particularly those with college degrees — to discover adequately stable employment that compensation enough to enable them to help themselves and their families: countless discover an adjust on the edges of the work showcase, ad-libbing with here and now as well as gravely paid work, with small government benefits, work under the table and the assistance of loved ones.”

Life is a nonstop battle for needy individuals who work, Cumberworth included. “A steady occupation or pay could tackle numerous issues in different zones like in social insurance, lodging, kids welfare,” he clarified. “We ought to do however much as could reasonably be expected to help, from limit building programs so individuals have the correct learning for the occupations that as of now exist to government jolt concentrated on making untalented employments, as roadworks and framework; from better pay rates utilizing appropriations or tax-exempt credits, to more imaginative systems like encouraging access to data about work conditions in different urban communities or states, and maybe notwithstanding offering endowments for exchanges for those moving keeping in mind the end goal to look for some kind of employment.Nichol sets up a political association with the outrageous polarization that exists amongst riches and neediness: “Imbalance has turned into a huge issue in the US. In genuine terms… we’re the most exceedingly bad on the planet. This is expected to some degree to capable financial patterns. In any case, much needs to do with the three decades that supported the wealthiest among us, the individuals who additionally back our political battles.”






From all that we can deduce from the above, we can conclude that America is not the wealthiest nation as opposed to the notion of many Americans though it is striving towards its success, It has several challenges that each Governing Regime tries to solve and uphold as a great nation most countries perceive it to be.





  1. Schor, Juliet B. The Overspent American: Why we want what we don’t need. New York: HarperPerennial, 1999.


  1. Diener, Ed, Marissa Diener, and Carol Diener. “Factors predicting the subjective well-being of nations.” Journal of personality and social psychology5 (1995): 851.


  1. Dussel, Enrique D., and Alessandro Fornazzari. “World-system and” trans”-modernity.” Nepantla: Views from South2 (2002): 221-244.


  1. Spiro, Peter J. “The new sovereigntists: American exceptionalism and its false prophets.” Foreign Affairs (2000): 9-15.


  1. Stiglitz, Joseph E. Freefall: America, free markets, and the sinking of the world economy. WW Norton & Company, 2010.