It's expensive to be poor

April 23, 2015 10:41 PM

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It's expensive to be poor

Low-income Americans are spending far more than they earn, forcing many to dip into savings, lean on family or go into debt.

Those in the bottom 30% of the income scale earn an average of $14,000 a year, including the value of many government benefits like food stamps or disability payments. But they spend more than $25,000, or 182%, of their annual income mostly on basic needs like housing, food and transportation, accor...

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