Spending of Low-Income Americans

It’s expensive to be poor, By Tami Luhby, April 24, 2015, CNN Money: “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 make 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, according to a CNNMoney analysis of Bureau of Labor Statistics data…”