Impact Of Poverty

As of 2015, poverty is affecting at least 45 million people in the United States alone. With such a high poverty rate, even after the rise in economic recovery over the last five years, it is making an impact on the economy of today and of the economy in the future. Poverty takes a large toll in the future of the economic stability in multiple ways. One major impact is the billions of dollars that taxpayers pay annually for public benefits alone. Another impact of poverty is how it affects employment, or more so, unemployment, which in turn jeopardizes the future development of the economy. In addition, poverty affects the future members of society and the role they will come to play in the stability and building of the economy for their time.

The rising rate of poverty is particularly harmful to the children that grow up in it, and it also effects how the society will come to be. Living in poverty while still a child, even for the briefest amount of time, can still effect how those children will come to behave in society in the future. Living in poverty increases the rate of incarceration, it lowers cognitive development, and it can increase reliance on public benefits. All of which can come to effect the future economy and society as a whole.

Sitting as one of the core roots of poverty is the lack of education. If part of the millions of dollars that tax-payers spend annually on public benefits could be spent on improving the education system, then poverty would easily be knocked out. People need an education to make jobs, and then to fill those jobs. Considering that unemployment, and the lack of jobs that are offered to the less educated people, also plays a role in poverty, then with better education more jobs can become available. This in turn would also take a chunk out of the poverty rate. If the children living in poverty had better atmospheres to learn and be taught the skills needed to succeed, then that alone would make a huge impact on the eradication of