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Are Middle Income Families the only ones affected by the Recession?

"A government report released Tuesday [August 4, 2009] says a middle-income family with a child born last year will spend about $221,000 raising that child through age 17.

The report by the USDA's Center for Nutrition Policy and Promotion identified housing as the largest single expense, followed by food and child care/education costs. The $221,000 in expenses rises to about $292,000 when adjusted for inflation.

USDA economist Mark Lino, who co-authored the report with Andrea Carlson, often hears people say children cost a lot when the annual findings are issued.

"I tell them children also have many benefits, so you have to keep that in mind," he said."

http://www.huffingtonpost.com/2009/08/04/middleincome-family-spend_n_251289.html

 
Anonymous

Asked by Anonymous at 7:55 AM on Aug. 11, 2009 in Politics & Current Events

This question is closed.
Answers (3)
  • Well, no, but these numbers are definitely geared for people who PAY for everything their kids do and wear and eat, but it also doesnt take into consideration anyone who pays for private school, so I think its just for middle incomed people.
    momofsaee

    Answer by momofsaee at 8:08 AM on Aug. 11, 2009

  • Yes! This numbers don't mean anything to a family who receives PA.
    Anonymous

    Answer by Anonymous at 7:58 AM on Aug. 11, 2009

  • I think that the middle class def. feel it harder than the rest of them! We are also the ones who are always called upon to bail everyone out.
    Anonymous

    Answer by Anonymous at 9:06 AM on Aug. 11, 2009