First Focus
The Cost of Doing Nothing
The current recession could land another three million children in poverty — with disastrous long-term consequences, according to a new report by the children's advocacy organization First Focus.
Children raised in poverty tend to have lower-than-average lifetime earnings and are much more likely than their unimpoverished peers to remain poor. First Focus cites research that says on average, children who spend more than half their life in poverty end up making 39 percent less than the median income.
Says Bruce Lesley, president of First Focus:
"If we do not act now, the current economic climate will lead to millions more children living in poverty, which will cause a severe economic loss for our nation's future. When children enter poverty at a young age, their ability to achieve the American dream is diminished. They are 13 times more likely to remain in poverty for several years after the recession ends, leading to adverse effects on lifetime earnings as well health outcomes."
The ultimate cost of those additional impoverished children to the U.S. economy? More than $1.7 trillion, according to the group.
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