US continues to suffer from economic issues. The country is currently having various economic issues. Starting from the next week, several economic changes will have a big impact on low-income households in the US. Certain communities will be deeply affected, like Black and Latinos. According to various analysts and economists, around 41 million people in the US earn low income and are below the poverty line in the country.
12% of Americans in the poverty line
This roughly translates to 12.4 % of the country’s 300 million population. The poverty line is around $29,678 for a house that has two adults and children. During the pandemic, it reached a low status. But as life has gone back on track, the poverty rate is again growing at a high rate. According to Reuters, A deal of around $1.59 trillion for discretionary spending for 2024 was rejected. It was intended to prevent a government shutdown.
government shutdown threat looming
The government shutdown can have disastrous consequences for the country. It can result in various issues like government employees working without their oaycekcw, and loss of food benefits for millions of low-income women and children. This food program provides great assistance to women and children. It provides food assistance and healthcare go low-income pregnant women, mothers who are breastfeeding, and children up to the age of 5. Black and Latino communities will suffer the most due to the closing of this scheme as they are from the low-income category. All these issues continue to be seen in the US, which is also at a big risk of having another recession. The whole picture will be cleared in a matter of few days, but one thing is sure: the poor will suffer the most due to any disturbance in the economy of the US.