Prosperity Now: Millions of U.S. Families Face Economic Uncertainty Despite Reports of a “Healthy Economy”
New Research Shows Exacerbated Vulnerability Along Racial Lines at State Level
Tuesday, January 29, 2019
Washington, D.C. - Despite headlines touting America's booming economy, the reality is that millions in the US are living in financial uncertainty. According to new research from Prosperity Now (formerly CFED), an alarming number of families don't have the resources to withstand an economic downturn, which many analysts predict is around the corner.
The 2019 Prosperity Now Scorecard shows that millions of families are either struggling to make ends meet, or are just one emergency away from a financial disaster. Forty percent of American households lack a basic level of savings. According to the Scorecard data, these “liquid asset poor” households don't even have enough savings to live at the poverty level for three months if their income was interrupted. The data is even worse for people of color with nearly 57% of households of color being liquid asset poor.
Courtesy of Prosperity Now