When looking at all the dismal economic news, we need to face the truth, the middle-class is toast.
After doing some research most Americans are closer to filing bankruptcy than they are to any sort of economic recovery that the media keeps talking about.
Many economists are becoming very outspoken about the lies the mainstream media continues to tell.
I guess that's where the quote of Adolf Hitler became so popular after World War II.
He said, "make the lie big, make it simple, keep saying it, and eventually they will believe it.
" After the war there was a huge pushback by middle-class America against communism and fascism in America.
Americans wanted to assure themselves that they weren't being lied to by the government.
Decades ago, Congress instituted an anti-propaganda bill for protected Americans from being lied to by the media and the government.
On July 2, 2013 that Bill was repealed and who knows what the truth is now.
One thing for sure is not only the US government but also just about every American consumer is on the verge of a bankruptcy filing.
The old adage, you can't get blood out of a turnip is starting to ring true all the way across the United States.
After spending some time in digging a little deeper, I found 10 facts that show that bankruptcy is not that far off for most middle class Americans.

1. The per capita income is continuing to fall every year.
   In the fourth quarter of 2012 it was about $37,500 and by the end of 2013 that number had dropped to $36,000.
   Considering the cost of gas, food and housing continues to rise, people have less disposable income to spend.
   
2. As incomes continued to decline, so do retail sales.
   Major corporate chains are closing thousands of stores nationwide to the point where it's being called a retail apocalypse.
   
3. As the wages decline, we have seen a large increase in consumer debt.
   In fact, consumer credit has increased a whopping 22% over the last three years.
   
4. Even though the mainstream media keeps banging the drum about the housing recovery, the real truth is the mortgage purchase application index is the lowest it's been since 1995.
   
5. The rate of home ownership in the US has declined for eight years straight.
   
6. It's hard to believe but 56% of Americans now have subprime credit.
   
7. Student loan debt has now created its very own bubble surpassing $1 trillion this year.
   
8. Prior to the financial crisis in 2007, student loan delinquency was 7.
   6%.
   It's no surprise that number is now 11.
   5%.
   
9. In the US the poverty rate has been over 15% for the last three years.
   
10. And finally for anyone that thinks things are getting better, that US consumer debt is now at a mind numbing $11,360,000,000,000.
    

With all this bad news it's easy to get depressed and feel like giving up.
There is hope, Americans do have a way out of debt that is impossible to ever pay back at the current wage they are earning.
People need to get beyond the lies and misconceptions that have been floating around for years about bankruptcy filing.
One of the biggest misconceptions is that they will lose everything they own and be flat broke leaving the bankruptcy filing.
This is a complete fabricated lie and is why Congress implemented bankruptcy exemption laws to protect a generous amount of property so a person can leave the bankruptcy discharge and truly get a fresh start.
This is something that was created by the social stigma that was put on a person filing bankruptcy by creditors.
Creditors know if they can scare someone to continue paying them for the rest of their lives they will keep the person in the dark and in bondage to their debt.
People need to wake up and educate themselves that filing bankruptcy is not a bad thing.
Bankruptcy was created to give honest hard working individuals a fresh financial start.