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Most Americans couldn’t come up with $1000 to cover a serious emergency

According to a jaw dropping poll by Associated Press, two-thirds of Americans would have difficulty coming up with the money to cover a $1,000 emergency, such as a medical bill.   They quoted Caroline Ratcliffe, a senior fellow at the Urban Institute focusing on poverty and emergency savings issues:
“The more we learn about the balance sheets of Americans, it becomes quite alarming… people are extremely vulnerable if they don’t have savings and it’s a cost to taxpayers as well. Lack of savings can lead to homelessness, or other problems.”
So why hasn’t this gotten more attention?   My theory is that most people in political system and media are not in this situation, so they are reporting on something that seems distant to them.   The report on this poll can be found at this link:

Updated: January 21, 2017 — 11:18 pm

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