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- CORVALLIS, Ore. — A new study from Oregon State University found that 77% of low- to moderate-income American households fall below the asset poverty threshold, meaning that if their income were cut off they would not have the financial assets to maintain at least poverty-level status for three months.
The study compared asset poverty rates in the U.S. and Canada. Canada’s asset poverty rate has improved over the past 20 years while the U.S. rate has worsened, but still, 62% of low- to moderate-income Canadians also fall below the asset poverty threshold.
Some dude was on NPR yesterday talking about how the expiration of the $600 supplement was forcing people to dip into savings. He made one mention of the lack of savings among Americans. Just like what the fuck are you doing dude? Are you doing damage control for Congress? People are going into debt and will be getting evicted and straight up just being unable to make ends meet and the reality of this situation isn't the narrative you want to tell?