Recently released data from the U.S. Census Bureau show that the overall number of older adults living in poverty has increased. Even more significant is the number of seniors who have experienced an increase in economic insecurity—or those simply living on the edge.
Seniors with incomes below 200% of the Federal Poverty Level (FPL) rose from 33.7% (13,023,000) in 2009 to 34.6% (13,549,000), and those living below 100% of the FPL saw a modest, yet significant, increase from 3.4 to 3.5 million. Numbers do indicate that some individuals aged 65 and older have seen a rise in their incomes, mostly due to Social Security, as more and more Boomers reach retirement age.
“What the numbers have shown us is that economic insecurity for older adults has definitely increased,” said Sandra Nathan, senior vice president for Economic Security at the National Council on Aging (NCOA). “We need legislative and policy changes that take into account the needs of all age groups in poverty—while not forgetting those who are living on the edge, struggling every day just to pay for food, medicine, transportation, and a place to live.”
The current official poverty measurement system also needs an update, NCOA believes. Developed in the early 1960s, the Federal Poverty Level measures poverty by comparing a family’s income to a threshold level of need, which is based on food consumption patterns of 1955 and does not reflect current living standards. The measure of income evaluated against this threshold does not reflect tax liabilities, out-of-pocket spending on health care, and other significant costs, nor does it account for important forms of public assistance. As a result, it does not adequately reflect who is poor.
If a more modernized measure of poverty were used, there would likely be an even larger proportion of older individuals living in poverty. This data was reflected in the National Academy of Sciences Panel on Poverty and Family Assistance released in 1995.
“The reality is that there is an unseen crisis occurring in this country today,” said Nathan, “and that is rising economic insecurity among older Americans.”
More than 13 million older adults live in or on the edge of poverty, on less than $22,000 each year. These seniors live one bad break, one accident, or one layoff away from economic disaster. And with continued cuts in federal, state, and local programs serving older adults, we can expect to see even more seniors struggling to make ends meet.
Phyllis Denison (Mon, 26 Sep 2011 22:21:41 +0000): As seniors who MUST work, we find that we can't get ahead as we still pay in to Social Security - 85% of which is taxed again - and Federal and State income tax. If we were no longer able to work, we would be just $3,000 above the poverty level with very little savings. We suffered our downturn beginning in 2000.
With the Federal and State governments being run by the rich for the rich, it seems that history is again repeating itself looking more and more like the 1st Century Roman government.
Hattie F Brown (Mon, 26 Sep 2011 23:12:45 +0000): My husband died in 1995 and I also have earned enough quarter required by Social Security. Why can't I get my husbands like people who did not retire from the Federal Government. All I get is $105.00 in addition to my retirement check. I also have to file tax as single which is a higher tax, I feel I should not have to pay tax. only the rich get away with less tax.
Frank Cole (Tue, 27 Sep 2011 12:43:38 +0000): Seniors who socked-away some of their earnings into safe, insured deposit accounts at banks and credit unions are now being punished by Ben Bernanke's Federal Reserve with record low yields on their money. These seniors depend on that interest to supplement their meager Social Security and maybe small pensions from their former employers (back in the age when there was such a thing as a pension). This is a second 'Great Depression' for some seniors.
Forest Cooper (Tue, 27 Sep 2011 13:30:50 +0000): The big lie of Social Security is coming home to roost. We are a nation who learned to live on debt instead of saving our money. The Federal government has lied for years about SS. The money is not there and won't be there. We should never have been forced to contribute to SS, which is really an additional income tax on which an out of control, extravagent Political Elete class has gotten fat. The 'rich' that Hattie and Phyllis are jealous about are the ones who started the businesses that could give thier sons and daughters real jobs. As long as they are mad at thier fellow citizens the situation won't get better. When all of us get mad at Massive Big Government then things will get better for us and our kids. Hattie and Phyllis' senators and representatives are co-conspirators with them to steal from thier kids and grandkids.
Rozan Webber (Sun, 02 Oct 2011 21:44:27 +0000): how would you like a ck for 7.00 a month. after they take out for medicare. woopie 7.00
National Council on Aging (Tue, 04 Oct 2011 01:29:55 +0000): Hattie, Phyllis, Frank, and Rozan, you may be interested in our One Away campaign, which gives voice to older adults who are struggling to make ends meet.
Please check out http://OneAway.org and consider joining the campaign by sharing your stories here: http://OneAway.org/Share-Your-Story.
If you need assistance, you can visit http://oneaway.org/Need-Help or contact us here: http://oneaway.org/Contact-Us.
AARP Missouri (Tue, 04 Oct 2011 16:32:03 +0000): Visit AARP Missouri at www.aarp.org/mo for information that affects older adults and their families.
Doris Woodward (Tue, 04 Oct 2011 18:04:25 +0000): thank goodness I am able to live with my daughter and son in law otherwise I too don't know what I would do with increased costs to health and everyday living expenses.