24/7 Wall St: “Poverty might mean different things in different parts of the world and to different people, but it is largely defined as being unable to afford a minimum standard of living. The United States has come a long way in addressing the problem, but progress seems to have slowed despite the recent years of economic recovery. In many ways, the problem has even escalated. Though the economy has added millions of jobs since the recession ended, many of the jobs created are not the same as jobs that were lost. In many areas, the problem of poverty has worsened during the recovery. Poverty is perhaps the most persistent of problems, with consequences that can span a lifetime, be transferred across generations, and loom in the minds of individuals and families living at the edge of poverty.”
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