Each year, the U.S. Census Bureau counts the number of "poor" persons in the U.S. In 2005, the Bureau found 37 million "poor" Americans. Presidential candidate John Edwards claims that these 37 million Americans currently "struggle with incredible poverty." Edwards asserts that America's poor, who number "one in eight of us…do not have enough money for the food, shelter, and clothing they need," and are forced to live in "terrible" circumstances.However, an examination of the living standards of the 37 million persons, whom the government defines as "poor," reveals that what Edwards calls "the plague" of American poverty might not be as "terrible" or "incredible" as candidate Edwards contends. Poverty is an important and emotional issue.
Running head: The Economy, Monetary Policy, and Monopolies The Economy, Monetary Policy, and Monopolies Shalanda Massenburg Professor Lloyd Amaghionyeodiwe ECO100 December 4, 2012 Analyze the current economic situation in the U.S. as compared to five years ago. Include interest rates, inflation, and unemployment in your analysis. The United States is the most advanced countries in the world. There has been a downfall in the number of houses being sold; interest rates have hit rock bottom, and a record weakening in the federal budget balance. All this is due to the downward fall in the economy.
The thresholds are used mainly for statistical purposes for instance, preparing estimates of the number of Americans in poverty each year. As per a report in the NY times, “The bureau’s findings were worse than many economists expected, and brought into sharp relief the toll the past decade — including the painful
According to the LICO rates in 2011, poverty troubles mainly seniors, aboriginals, and single parents. In Canada, Social assistance falls well below the poverty line and fails miserably to provide adequate income for even a moderate standard living. We should ALL try living on such measly income for a month…. Maybe then we would be more sympathetic for those whom live under the poverty line. There comes a time when people grow old and are not physically capable of handling tasks in the work force.
For example, 14,000 kids have been positively affected by the Michigan Earned Income tax credit, but because it has been cut by 14%, low-income youth are unable to receive the benefits (kidscount). Youth in families that are receiving unemployment are affected because unemployment was cut from 26 weeks to 20 weeks and cash assistance has become more difficult to receive (kidscount). Poverty affects the youth in many ways, such as their family life and education. Many children are neglected in cases of low-income families. 32,500 children have been neglected in 2010, and in Ingham County 42 percent of children have been abused or neglected (milhs.org).
Census Bureau data, as of September 13, 2011, the nation's poverty rate rose to 15.1% which means that we have about 46.2 million people living below the poverty line. In the United States people that earn less than $23,050 and they have a family of 4, these people are considered to be living in poverty. Society has constructed this group in such a way that portrays them as a burden on the entire economic system. Poverty is looked upon as a social issue, but this group is made up with people, that has in most cases, been classified as lazy and unwilling to put in the necessary work to get them out of that situation. Even though financial assistance is supposed to be a means of temporary aid, many aren't looking at it that way Many people are taking advantage of the fact that they can get it and not on the fact of if they need it or not.
At this time they would need to provide cheaper price to attract their consumers and to increase the demand. They would have to reduce the number of staffs as it may become difficult to pay wages. This leads to rise in unemployment. During recession businesses also tries to get loan from the bank and the bank wants to see their financial statements and if they find out that the business is not capable of paying the money back then they won’t lend any money therefore, the business may have to find new way of catching customers attention. For instance, they may be able to start up with a new idea.
Until the late 19th century, children were economic assets to their parents, as Philippe Aries said “childhood did not exist” and therefore they could be sent out to work from an early age to earn an income. However, since the late 19th century children have gradually become an economic liability. Now there are laws about banning child labour, introducing compulsory schooling and raising the school leaving age, means that children remain economically dependent on their parents for longer and longer, and are becoming more of a burden. Changing norms about what children have a right to expect from their parents in material terms means that the cost of bringing up children has risen, also. The LV insurance firm stated that child costs £186k just before their 21st birthday.
The American educational system has been at large for the past 40 years. Sadly the only growing correlation I can see with supportive information to back-up my theory is the growing number of poverty in America. The link between poverty and the decline in educational achievement in America is very rarely looked at in the educational system. Many years of numerous academic research show that poor children, or those born to parents who are rather poorly educated also, don’t do as well in school as those students who are raised in a middle-class house. Americas problem of poverty is too big to be ignored in the world, as it has the highest poverty rate in the entire western region of the globe with 22%.
The problem of today’s society is the fight against poverty. With many societies today having low-income areas, education seems to be the first thing to be put on hold. Pakistan, the second country with the highest number of children out of schools, has severe poverty in which people are only living off two dollars a day (Haroon, 2011, Impact on Education on Poverty Reduction). This example shows the direct correlation that poverty has on one’s education. Through this correlation, one can see how such factors can keep children in impoverished homes throughout their lives.