2 years ago

1,823,374 views Mar 7, 2023 #CNBC
37.9 million Americans are currently living in poverty, accounting for 11.6% of the total population. That’s despite the fact that America ranks first as the richest nation in the world in terms of GDP. Poverty in the U.S. is not only a humanitarian crisis but an economic one as well. About 11% of the federal budget, or $665 billion goes to economic security programs every year. Child poverty alone is estimated to cost the U.S. over $1 trillion based on the latest research. So how did poverty become such a big issue in the U.S. and why is it so difficult to end it?

Chapters:
0:00 — Introduction
02:22 — Reasons
06:50 — Measuring poverty
10:59 — Solutions

Produced by: Juhohn Lee
Supervising Producer: Lindsey Jacobson
Graphics: Christina Locopo
Additional Camera by: Charlotte Morabito
Special thanks to: River Fund

» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision

About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.