Poverty monster

By April Mays on 09/28/2011 @ 03:39 PM

Tags: Domestic

Poverty is a scary monster lurking around every corner and yet there seems to be no clear cut answer for how to deal with it. The poverty rate has increased from 14.3 in 2009 to 15.1 percent in 2010. This statistic can be comforting in the sense that poverty has only increased by .8 percent over a year; however, when that percentage increase is translated into a number it makes the magnitude of the problem a reality. A .8 percent increase in the poverty rate is an increase of 2.6 million people which is quite staggering. The problem is that this monster remains only a number or percentage to those who have the power to do anything about it. But from the city streets up, it is not a number or a percentage problem; it is a scary question of what to do about the monster.

As a young person beginning my career in this shaking economic time there are other factors which can be daunting. Income earnings for those between the ages of 15 and 24 have decreased by 9.3 percent from 2009 to 2010. People from the age of 15-24 would be the age group that would theoretically be consuming the most as a whole ranging anywhere from retail to the housing market. It is not a stretch to assume that within the next five to ten years of my life I could potentially be buying a home, a better car, furniture, and so on if I had the earnings to do so. But with earnings declining more young adults are living at home or ‘doubling up’ with other families. This does not seem to be a step in the right direction if the goal is to boost the economy. With an economy that is struggling such as the United States, the growth and stabilization efforts need to be focused on the areas that will create jobs for those underemployed or unemployed which would increase the amount of discretionary spending in the hands of those that will actually spend it.

In the upcoming weeks it is vital that any congressional actions in regards to the budget need to be focused on what will create the most jobs with the lowest cost. The debate of course is what action would bring the jobs needed. Creating jobs will not instantly solve the problem of poverty but it would create a multiplier effect that would statistically decrease the poverty rate. Also it seems evident to me that any congressional actions to cut spending should not include programs that affect those that need help the most. The supercommittee also known as the ‘Gang of 12’ has the task of reducing the debt by at least $1.5 trillion over the next 10 years which can include many programs that many low income people depend on. If they do not succeed in developing a plan that will reduce spending by $1.5 trillion, there will be automatic cuts to various programs. If the economy is the concern it seems instinct that poverty and job creation should be the main priorities.

I am not calling on the good will of humanity to be concerned about the monster disrupting the well being of many others. The problem and solution speak well enough on the issue as is. It seems as though working to reduce or eliminate poverty would be in the best interest of all in regards to budget savings, job creation, and giving the economy the boost it needs. This can be done buy cutting spending in areas that one could argue are saturated with excess funding such as defense instead of cutting social programs that provide a safety net for the poor or spending that could create more jobs. Of course there needs to be savings as a whole nationally but I think, as I believe many others do, that the cuts should be made in areas that are inefficient, unnecessary, or over-funded. I personally hope the economy at least stabilizes for selfish reasons, but luckily for me, what is good for me is good for the majority of Americans. Dream of great riches coming your way if you wish to, but keep in mind, until that day comes you are still one of the majority living in an industrialized country that has the greatest inequality gap between the rich and poor. The monster is in all of our backyards.