Study: Half of Seniors at Risk for Poverty

[Donnachaidh]

http://blog.aflcio.org/2010/12/08/study-half-of-seniors-at-risk-for-poverty/


Here’s one big reason congressional Republicans and the deficit hawks are dead wrong about cutting Social Security benefits: According to a new study, nearly half (47.4 percent) of all Americans between the ages of 60 and 90 will experience at least one year of poverty or near poverty and seniors of color are twice as likely to be affected.

The study by Mark Rank, a professor of social work at Washington University in St. Louis, shows that 58 percent of seniors between 60 and 84 will, at some point, not have enough liquid assets to allow them to weather an unanticipated expense or downturn in income.

But if you are a senior who is black or unmarried or have less than a high school education, the likelihood that you will be poor at some point increases dramatically. Rank found that although 32.7 percent of white older Americans will experience at least one year below the official poverty line, the percentage for black older Americans was nearly double at 64.6 percent.

For unmarried seniors, the percentage experiencing poverty was 51.2 percent compared with 24.9 percent for married older Americans. Likewise, for those with fewer than 12 years of education, the percentage experiencing poverty was 48.4 percent compared with 20.5 percent for those with 12 or more years of education.

More at the link ---

[DJ13]

1. Excusing no COLA by trying to claim they got a 5% increase in 08

Is bullshit.

In 08 gas, utilities, and food had gone up by double digits, and the prices are inelastic and havent fallen back to the pre 08 level.

[bobbolink]

10. Thank you. So few here get this!

If the COLA had been effective in the first place, seniors would be able to afford housing, and wouldn't be a rapidly growing group of homeless people!

[RaleighNCDUer]

2. They are not "wrong" - that is their intent.

They are proposing this BECAUSE it will put so many seniors - mostly those of color - into poverty. After all, why should 'those people' be sucking on ghe government's tit when they don't know how to use the money they are being given? Better they should die, and decrease the surplus population.

[InkAddict]

3. Guess 50% of seniors missed the Public Education Class: Intro to Extortion 101

Seniors now were draftees then, when THEY required some to become killers and also killed off the first 55,000+; Mid East not as successful, eliminating fewer reservists and volunteers, but giving them physical/mental infirmities sure to make an impact the future livlihood (in the best sense of the word) of the crooks n/t

[madrchsod]

4. unions-gone,pensions-gone,...

retirement benefits-gone..... need i go on ?

[shanti]

5. what about the seniors with no family?

the wingers want to cut ss and have seniors depend upon family for their support, but what if they have none? :shrug: i know a lot of boomers like this, no kids, no partner, no pension, no 401K. they are pretty much screwed, and it appears that's the way they want it. :(

[bobbolink]

11. They should at least have the decency to make available to us a quick and painless means of exit.

[ladjf]

6. Good Lord! If that isn't a wake up call I don't know what would be. nt

[felix_numinous]

7. Check

-count me in. Hope you all are doing okay.

[Bozita]

8. Good post! ... Thank you.

[amborin]

9. K&R