10 States That Are Maxxed Out on Credit Cards

Finance.yahoo.com


Here are the top 10 states with the highest bankcard utilization ratios.

10. Louisiana
Average Balance: $3,503
Average Limit: $16,257
Average Utilization: 21.55%

Louisiana comes in last on our list, with a decently low average balance per consumer. The Bayou state could benefit from asking their credit card issuers to up their limits though — a tactic that can lower your utilization without forcing you to cut spending.

9. Texas
Average Balance: $4,072
Average Limit: $18,857
Average Utilization: 21.59%

The saying goes that “everything’s bigger in Texas” and that must be true of the state’s credit cards too, as the Lone Star state has the highest average limit of all of the states on our list. The high credit limit doesn’t mean that Texans aren’t spending though, as they also have the third highest balance.

8. South Carolina
Average Balance: $3,786
Average Limit: $17,351
Average Utilization: 21.82%

7. Oklahoma
Average Balance: $3,579
Average Limit: $16,396
Average Utilization: 21.83%

6. Arkansas
Average Balance: $3,469
Average Limit: $15,751
Average Utilization: 22.02%

Arkansas takes the prize for lowest average balance of any state that made our list. Perhaps residents of the Natural state could use a new credit card, which can add to their overall limit and decrease their utilization ratio.

5. Nevada
Average Balance: $3,999
Average Limit: $18,047
Average Utilization: 22.16%

4. Alabama
Average Balance: $3,618
Average Limit: $16,085
Average Utilization: 22.49%

3. Georgia
Average Balance: $4,246
Average Limit: $18,520
Average Utilization: 22.93%

Though Texas took the highest average limit of all the states on our list, Georgia wasn’t far behind. The state could try to skim more money off their monthly expenses to cut their utilization ratio.

2. Mississippi
Average Balance: $3,384
Average Limit: $14,644
Average Utilization: 23.11%

Though this state comes in second in our rankings, its residents aren’t charging more dollars, on average, than any other state on our list. The high utilization ratio in Mississippi is due primarily to the fact that its average limit per consumer is very low.

1. Alaska
Average Balance: $4,563
Average Limit: $16,453
Average Utilization: 27.73%

While all of the other states in our rankings stayed below a 25% utilization ratio, Alaska broke that barrier. This should come as no surprise to those who pay attention to Alaskans’ personal finances. The 49th state has recently topped lists of the highest credit card balances and highest revolving account debt. Read more >>

1 in 5 Americans cannot afford to buy food

The results of a new poll show that American citizens are still experiencing difficulty in affording food for themselves or their families, a sign which proves that the country’s economy is not on the road to recovery. A total of 177,662 adults from across the United States responded to the poll conducted by Gallup organization via phone from January through June 2012.

According to the findings, which were made public on August 21, almost one in five Americans in 15 states say they had trouble buying food at least once during the past 12 months. “Nationwide, 18.2 percent of Americans so far in 2012 say there have been times when they could not afford the food they needed, on par with the 18.6 percent who had trouble affording food in 2011,” the Gallup poll results also stated.

The poll further highlighted that residents in southern states such as Mississippi and Alabama are among the most likely to struggle to afford food. The development comes as worsening drought in the United States has pushed grain prices to new highs as crops are withering and the temperatures are rising. At the same time, corn and soybean production in the US has slashed to a six-year low due to the drought. Read more >>

Study: BP Dispersants killed plankton and disrupted food chain

A study on possible effects of the 2010 BP oil spill indicates dispersants may have killed plankton - some of the ocean's tiniest plants and creatures - and disrupted the food chain in the Gulf of Mexico, one of the nation's richest seafood grounds.

Scientists who read the study said it points toward major future effects of the spill. One called its findings scary. For the study, Alabama researchers pumped water from Mobile Bay into 53-gallon drums, then added oil, dispersant or both in proportions found during the oil spill to simulate the spill's effects on microscopic water-life in the bay.

Over more than 12 weeks in 2010, BP's well spewed nearly 200 million gallons of oil into the Gulf of Mexico. The company used more than 1.8 million gallons of dispersants - more than 770,000 gallons of it at the oil's source on the ocean floor - to break up the oil into tiny droplets.

The researchers found that, within days, the numbers of plant-like phytoplankton and ciliates - plankton that use hairlike cilia to move - increased under an oil slick. But they dropped significantly in the drums with dispersant or dispersed oil, while the numbers of bacteria increased. The study was published Tuesday in PLoS ONE, one of the peer-reviewed journals in the online Public Library of Science. Read more >>

20,000 Apply for Less Than 1000 Jobs At Alabama Hyundai Plant

It should not come as a surprise with unemployment over 8% that good paying jobs in manufacturing are harder than ever to land.

At the Hyundai plant in Montgomery, Alabama more than 20,000 people have applied for one of the 877 job openings.

The surge of people applying may seem unusual, but it's not.

Take a look:

• Last summer Ford had more than 18,000 people apply for one of 1,800 jobs at the retooled Louisville plant. That plant will open and start building the Edge SUV in mid-June. 
• In 2011, more than 41,000 applied for one of the 1,300 positions at the new Toyota plant in Tupelo, Mississippi.
• In 2009, more than 65,000 applied for one of the 2,700 jobs at the new Volkswagen plant in Chattanooga, TN. Since opening, that plant has added shifts and is currently hiring another 820 workers.

Read more >>

5 States That Tax The Poor The Most

MSNBC
In an effort to help families work their way out of poverty, most of the United States do not tax the incomes of working-poor families. A handful of states do, however.

1. Alabama

Alabama is one of the country’s poorest states, and it taxes its poor residents’ incomes the most. The state has a poverty rate of 17.4 percent, which is among the nation’s highest. It also has the fifth-lowest median household income. A family of four at the poverty line must pay $548 in income taxes. This amount has consistently increased since 1994. Additionally, Alabama has the second-lowest tax threshold in the country. A single-parent family of three making $9,800 -- or 55 percent of the group’s poverty level of $17,922 -- remains subject to income tax.

2. Illinois

Illinois taxes families of four making 57 percent of the poverty level. This means that a family earning $13,100 a year must pay income tax. Due to state fiscal issues, Illinois raised its flat income tax rate from 3 percent to 5 percent in 2011. This caused income taxes for a family of four at the poverty line to increase by $322. However, the state plans to fully implement tax credits for low-income families by 2013, which “will almost completely offset the impact of the income tax increase for poor families,” according to CBPP.

3. Hawaii

Hawaii has a particularly low poverty rate of 10 percent. It also has one of the highest median household incomes in the country. The state continues to tax families at the poverty line at one of the highest rates in the country. However, the amount a family of four at the poverty line pays in income tax has decreased since 1994. That year, the amount was $406. Today, it is $331. The state also taxes families making 77 percent of the poverty line or more.

4. Oregon

A family of four in Oregon living at the poverty line pays the fourth-most taxes in the country at $274. For a family that size making 125 percent of the poverty line, the amount of tax owed jumps to $869 -- the third most in the country. State lawmakers have considered extending tax breaks for low-income households in recent years, but significant action has not yet taken place.

5. Georgia

Georgia has among the highest rates of residents living below the poverty line in the country. It also has the fourth-lowest tax threshold in the county. Families making just 69 percent of the poverty line or more are taxed. For those low-income families, taxes are generally getting worse. The amount that a family of four living on the poverty line must pay in income tax has more than doubled since 1994, from $116 to $273. More...

Whale sharks swimming in heavy oil four miles from Deepwater

Swimming with a whale shark off the Alabama coast

This week's report: Three whale sharks swimming in heavy oil four miles from the gushing Deepwater Horizon wellhead. "Our worst fears are realized. They are not avoiding the spill area," said Eric Hoffmayer, the University of Southern Mississippi scientist who found the large aggregation last week. "Those animals are going to succumb. Taking mouthfuls of oil is not good. It is not the toxicity that will kill them. It's that oil is going to be sticking to their gills and everything else."

Whale sharks, the largest fish on earth, feed by filtering plankton and tiny fish from the water through sieve-like mechanisms in their mouths.

"Based on all the information I'm getting, they are doing the normal things regardless of the oil. The idea that sharks have these evolved senses that will protect them -- well, they haven't evolved to detect oil," Hoffmayer said.

He tagged whale sharks on the Ewing Bank in June of last year. The satellite trackers showed that some of the animals spent that July migrating hundreds of miles toward the Alabama coast and Florida Panhandle. If they follow the same route this year, it would carry them straight through the heart of the spill. More...

Recession as big as Texas pummels rural America

Image by Amy V. Miller via Flickr

RICHARD PARKER
Texas was slow to be swept up by the Great Recession. But now its pain has come home to big cities and small towns, as the lagging effects of the recession batter the ranchers, storekeepers and families who all withstood — until now.

While Washington's fury is directed toward the Gulf oil pill, it has largely lost sight of the recession. Yet Congress continues to weigh financial reform, and it would do well to remember the human cost of the Great Recession, triggered by the titans of Wall Street but borne heavily by everyday people.

Since the crisis began and through the first quarter of this year, more than $2 trillion in mutual funds have been wiped out, 4.5 million homes have gone into foreclosure and 6.8 million jobs have been lost.

With its art, eclectic character and natural beauty ours is one of the best little towns in the nation to visit; it says so right in the pages of The New York Times and Travel Holiday Magazine.

But for those of us who live here, a quiet crisis whispers of impending poverty. A merchant confides he can't take another year like the last two. A Mexican stonemason tells me that a single project tided his family through winter. A Realtor relays that all over town, people who never took a mortgage they couldn't afford are looking to give up, sell out and move on.

Today in Texas, one in five people struggle to feed themselves and one in five children live in poverty, according to the Center for Public Policy Priorities in Austin, founded by Benedictine nuns. Perhaps Perry's economic prowess will trail him out of the state like a coyote when he seeks the presidency.

However, this is not a Texas story but an American one, told in fiscal crises that stretch from California to Illinois, from Alabama to New York. It is in Washington where the Great Recession will be justly dealt with — or not. Realistically, after all, Congress and the regulators have assiduously polished their reputations as hand-maidens of the banks at least since the repeal of Glass-Steagall in 1999.

It doesn't take an expert to understand that much of the legislation in Congress is mere cover for the politicians and the big banks. It isn't designed to redress the latest crisis or stop the next one. It puts matters in the hands of regulators who consistently failed, to, well, regulate. Regardless of party, the politicians will let the big banks go on gambling with other people's money. The only real solution is to reinstate Glass-Steagall and break up the big banks. Only one senator, Democrat Ted Kaufman of Delaware, railed for that and against something dressed up in the Orwellian costume of "reform." More... loader.js" defer="defer">

Scientists fear mass die-offs as fish run out of oxygen

Image via Wikipedia

winonadailynews.com

Dolphins and sharks are showing up in surprisingly shallow water just off the Florida coast. Mullets, crabs, rays and small fish congregate by the thousands off an Alabama pier. Birds covered in oil are crawling deep into marshes, never to be seen again.

Marine scientists studying the effects of the BP disaster are seeing some strange _ and troubling _ phenomena.

Fish and other wildlife are fleeing the oil out in the Gulf and clustering in cleaner waters along the coast. But that is not the hopeful sign it might appear to be, researchers say.

The animals' presence close to shore means their usual habitat is badly polluted, and the crowding could result in mass die-offs as fish run out of oxygen. Also, the animals could easily get devoured by predators.

"A parallel would be: Why are the wildlife running to the edge of a forest on fire? There will be a lot of fish, sharks, turtles trying to get out of this water they detect is not suitable," said Larry Crowder, a Duke University marine biologist.

The nearly two-month-old oil spill has created an environmental catastrophe unparalleled in U.S. history as tens of millions of gallons of have spewed into the Gulf of Mexico ecosystem. Scientists are seeing some unusual things as they try to understand the effects on thousands of species of marine life.

Day by day, scientists in boats tally up dead birds, sea turtles and other animals, but the toll is surprisingly small given the size of the disaster. The latest figures show that 783 birds, 353 turtles and 41 mammals have died _ numbers that pale in comparison to what happened after the Exxon Valdez disaster in Alaska in 1989, when 250,000 birds and 2,800 otters are believed to have died. More...