“Economic problems have no sharp edges. They shade off imperceptibly into politics, sociology, and ethics. Indeed, it is hardly an exaggeration to say that the ultimate answer to every economic problem lies in some other field.”*…
The number of households that live above the poverty line but are barely scraping by is ticking higher…
Over time, higher costs and sluggish wage growth have left more Americans financially vulnerable, with many known as “ALICEs.”
Nearly 40 million families, or 29% of the population, fall in the category of ALICE — Asset Limited, Income Constrained, Employed — according to United Way’s United for ALICE program, which first coined the term to refer to households earning above the poverty line but less than what’s needed to get by.
That figure doesn’t include the 37.9 million Americans [individuals, as opposed to families as measured above] who live in poverty, comprising 11.5% of the total population, according to data from the U.S. Census Bureau.
“ALICE is the nation’s child-care workers, home health aides and cashiers heralded during the pandemic — those working low-wage jobs, with little or no savings and one emergency from poverty,” said Stephanie Hoopes, national director at United for ALICE…
Read on for an explanation of how high inflation and higher interest rates have aggravated what was already a problem: “29% of households have jobs but struggle to cover basic needs,” from @CNBC.
Apposite: “Millions of Americans are about to lose internet access, and Congress is to blame.”
(Image above: source)
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As we knit a safety net, we might recall that, on this date in 2020, as a product of the COVID-19 recession, the U.S. unemployment rate to hit 14.9 percent, its worst rate since the Great Depression. Federal legislators enacted six major bills, centered on the American Rescue Plan and costing about $5.3 trillion, to help manage the pandemic and mitigate the economic burden on families and businesses. Those programs have now expired.
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