By Karla Sullivan
The current Census Bureau figures in September of 2013 showed that 15 percent of Americans, roughly 46.5 million people, live at or below the government defined poverty line. And even after the collapse of the economy, poverty numbers have really not changed much. According to Obama’s recent State of the Union address, it is not uncommon to find two parents working full-time jobs while raising a family who are considered poor; underemployed, under insured and unable to meet the needs of their children.
What happened to the American Dream?
Obama comments in the State of the Union address about “the bottom line is, Michelle and I want every child to have the same chance this country gave us. But we know our opportunity agenda won’t be complete – and too many young people entering the workforce today will see the American Dream as an empty promise – unless we do more to make sure our economy honors the dignity of work, and hard work pays off for every single American.”
During the final day of January, poverty awareness should be the primary focus. Unfortunately, as the month transitions into the next, American families are still living with unemployment and increasing costs of living each day; becoming just a little more hungry. As a result, more illness prevails and the cost of health insurance as well as life insurance is out of the question.
The long-term decline in income has also be a serious problem, especially as the middle and lower classes have fared considerably worse than the rich. Since 1967, Americans right in the middle of the income curve have seen their earnings rise 19%, while those in the top 5% have seen a 67% gain, according to CNN Money.
Now with the Affordable Care Act for health insurance, and a proposal in Congress to increase the minimum wage to $10.10 may help those that are in desperate need. However, without life insurance, in some ways we are perpetuating poverty. If a spouse dies, the poverty stricken survivor spouse has no means to pay for final expenses and has lost income; once again unable to make a difference.
The Center for American Progress is dedicated to improving the lives of Americans through ideas and action. According to their recent polls not only is the working class struggling without benefits, their confidence in the ability to save anything for retirement has reached an all time low. Without hope and motivation, a new set of problems begin.
Too many young Millennials are barely making ends meet when they could be taking advantage of beginning a solvent savings portfolio, a life insurance policy to help fund college educations for their children but resources are limited. Again, without better paying jobs with benefits, young, now healthy, Americans don’t have the chance in creating a future safety net when the unexpected occurs. Everyone just keeps spinning their wheels.
Associations you may contact for tools on how to handle financial setbacks, savings, credit and insurance needs are The Center for American Progress that provides consultants. The Bill & Melinda Gates Foundation can also offer assistance.
The National Association of Social Workers provides information in locating a social worker in your community that may also assist in in planning priorities and goals. Struggling financially can leave you at an emotional crossroad when making necessary, decisive changes.
Research areas in the insurance industry, contact your state insurance commissioner, or ask for referrals to speak with a financial specialist that may be able to protect your vehicle, home and life. Resources that are affordable which you most certainly deserve even when today’s income status seems bleakly stretched.
