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this post was submitted on 11 May 2024
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A Boring Dystopia
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That percentage seems low
The other 70 % are already in poverty.
Life is so much less stressful if you just embrace the poverty.
It doesn't include the 11% who meet the definition of poverty. Based on the definition on the ALICE page, it's 29% of households above the poverty line who still can't afford the basics. It doesn't include people with inadequate savings who are making ends meet, albeit paycheck to paycheck, but who aren't trying to choose between rent/food/transportation and racking up credit card debt.
Way low. A fifth of people in the US have no emergency fund at all. A third have something squirreled away but not enough to cover 3 months of expenses. That's half the country right there that's living on the edge of ruin.
I'd save if I could. But yeah this sums it up.