How Are We Doing This Year on the $400 Expense Question?

The Washington Post gets us up to speed on the Fed’s latest report about the wellbeing of American households:

Are Americans benefiting from the strong economy — aside from the rich? A Fed report raises questions.

….Almost four in 10 people (39 percent) said they wouldn’t be able to scrape together the cash to meet a $400 emergency expense.

Just to save everybody some trouble next year, here’s how that question has been answered since the Fed started asking it:

So the answer is: yes, the non-rich have benefited from the strong economy. That’s not the problem. The problem is that they haven’t benefited nearly as much as they should have:

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We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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