The poverty rate in 2009 was 14.3 percent, up from 13.2 percent in 2008. This is the highest rate since 1994.
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Americans must task their newly elected officials with tackling the nation's debt — and hold them accountable for results.
A large, comprehensive plan that addresses our long-term structural deficits is clearly the best way forward for America’s future economy. However, more modest proposals, which would begin to take meaningful steps towards putting our debt on a sustainable path, would also be worthwhile.
On our current path, CBO projects that deficits will reach $1.0 trillion by 2022 and total $10.1 trillion over the next ten years.
By making gradual changes to federal spending and revenue, lawmakers can not only stabilize our fiscal outlook, but provide long-run economic benefits for American families (in terms of real GNP growth) without inflicting undue damage on the U.S. economy in the near term.
Millennial households have relatively few assets.
Today's young adults are more likely to have student debt than their historical peers.
Today's young adults face higher student debt burdens than their historical peers, even after adjusting for inflation.
There is a high rate of child poverty in the United States compared to other developed countries.
Despite recent declines, U.S. household debt is still very high relative to disposable income.