PULSE
MONEY TALKS
Poverty The year 2030’s goal of the United Nations’ Sustainable Development Goal (SDG) to end extreme poverty still looks like a mirage to the United States. U.S. Census Bureau’s 2017 estimates of the official poverty rate are 12.3 percent, based on its report of Q3 2018.
The Census Bureau affirmed that 18.5 million people disclosed deep poverty, which means a household income below fifty percent of their 2017 poverty threshold. These individuals represented an estimated 5.7 percent of all Americans and 46.7 percent of those in poverty.
Scarily, March 2018’s Poverty Fact Sheet by Kairos- Center For Religious, Rights and Social Justice, disclosed that one in seven citizens live below the federal poverty threshold (13.9% or 44.7 million) and Over half of all children are poor or low income (51.9%). Half of all children will qualify or food stamps before they turn 20, including 9 out of 10 African American children.
A study measuring "economic insecurity" found that 4 out of 5 (79%) of people in the US live in danger of poverty or unemployment at some point in their lifetime. Only 48% of people could handle a $400 emergency expense without selling something or borrowing money.
In his article last year, Steven Pressman, professor of economics, Colorado State University, reported that substantial research reveals that growing up poor adversely affects children's health, as well as their intellectual and social development. It lowers earnings in adulthood and lessens future tax revenues.