37.9 million Americans are currently living in poverty, accounting for 11.6% of the total population.
That’s despite the fact that America ranks first as the richest nation in the world in terms of GDP.
Poverty in the U.S. is not only a humanitarian crisis but an economic one as well.
About 11% of the federal budget, or $665 billion goes to economic security programs every year.
Child poverty alone is estimated to cost the U.S. over $1 trillion based on the latest research.
So how did poverty become such a big issue in the U.S. and why is it so difficult to end it?