Many people are falling further down the economic ladder during this recent recession than they ever thought possible. Families with children are losing homes, moving in with relatives, and having to live on less than before because parents have lost their jobs and cannot find a new job. Hopefully, the parents will be able to regain their economic footing. However, the footprint of time in poverty may linger with their children for a long time, despite the best attempts of the parents to erase the effects.
A study by First Focus, a bipartisan advocacy group with a commitment to making children and families a priority in federal budget decisions, has released a report on the long-term changes in children caused by childhood poverty. The impacts linger long after the money has started flowing to the family.
This is what can happen to a child pushed into poverty by the recession:
- Three times more likely to remain in poverty than a similar child who did not experience poverty. These children are distinctly different from children whose families managed to stay above the poverty line.
- 78% of recession poverty children complete high school compared to 93% of children who remained above the poverty line.
- Only 13% of children who fell under the poverty line complete higher education (4 year degree) compared to 33% of those who stayed above the line. The educational rates for impoverished children are similar overall whether the poverty was permanent or caused by a recession.
During this current downturn, social programs aiding the poor and unemployed have been cut as a way to save money. The results of this study show this can be pennywise and pound foolish because the impacts linger for a lifetime, long after any money that was saved has been spent.
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