Friday, September 11, 2009
Recession Takes Toll on Living Standards
The recession has slashed families' earnings, increased poverty and left more people without health insurance, according to the Census Bureau's annual snapshot of living standards. The report Thursday offered sharp evidence of how much the falling economy has touched Americans across incomes and races.
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This article gives good insight into the variability of the impact of a recession on various income brackets. It makes it more obvious that as tough as a recession for the middle income masses of the U.S., it is devastating for those families who were just above the poverty line and have now fallen below it. From the perspective of an Ohio Wesleyan student, the recession has perhaps been much less life altering than for a mother supporting her three children just trying to get by. It is unfortunate that a recession has the largest consequences on an already struggling group of people in the United States.
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