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Poverty: Lack Of Assets In Texas
Summary:
A new study shows how tough it can be to climb out on top of this economy in the state of Texas.
February 6
Poverty: Lack Of Assets In Texas
Publication: Houston Chronicle
A study by the Corporation for Enterprise Development has found that 27.7 percent of Texas households have no financial cushion in case of an emergency. If you exclude homes and automobiles from the calculation, a full 50 percent of Texans have no assets they could use to survive if they suddenly lost their income…Poverty is also most acute among children, with 25.7 percent of Texas children living in poverty, compared to 21.6 percent nationally. According to former state demographer Steve Murdock, a poor child who attends college is seven times more likely to move into the middle class, so public education is critical.
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