76% of Americans living paycheck to paycheck, have little or no savings

The economy's fine. Don't worry about it. Everything's humming along smoothly. Never mind that nearly 10 million people have left the workforce since Obama took office. Ignore the fact that our "new normal" unemployment rate hovers around 8%. The Democrats are in charge, and they care.

You'll be OK. Unless you're like the vast majority of Americans, that is. If you find yourself living paycheck to paycheck, teetering on the brink of financial ruin, you're not alone. Despite the rosy proclamations about economic recovery, a new study by Bankrate.com paints a very different picture. Most Americans are just scraping by on a month-to-month basis, and the majority of them have little or no savings should they lose their jobs, face a medical emergency, or become unable to work. According a CNNMoney's report on the findings:

"Roughly three-quarters of Americans are living paycheck-to-paycheck, with little to no emergency savings, according to a survey released by Bankrate.com Monday.

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Fewer than one in four Americans have enough money in their savings account to cover at least six months of expenses, enough to help cushion the blow of a job loss, medical emergency or some other unexpected event, according to the survey of 1,000 adults. Meanwhile, 50% of those surveyed have less than a three-month cushion and 27% had no savings at all. "It's disappointing," said Greg McBride, Bankrate.com's senior financial analyst. "Nothing helps you sleep better at night than knowing you have money tucked away for unplanned expenses." Sure, this is troubling, but things are getting so much better. Obama's had four and a half years to work his magic, so it's all turning around. Right? Wrong.

"Even more disappointing; The savings rates have barely changed over the past three years, even though a larger percentage of consumers report an increase in job security, a higher net worth and an overall better financial situation."

In other words, those who've managed to stay in the workforce are feeling more secure in the jobs they have, and their overall worth is increasing, but it's not enough to allow them to build a nest egg. To put it bluntly, no one is "getting ahead." If you want to build a welfare state, step one is to indoctrinate the unemployed, unemployable, and uneducated. Step two is to break the backs of those who are capable of self-sustenance. If these numbers are accurate, it seems that the vast majority of American workers are clinging to the edge of a financial precipice. It would take very little to push them over the brink. Do so, and it's not hard to envision total economic collapse and a populace desperate for big government to step in and save the day. These are chilling numbers.