Saved by Devin Baker and
Part 1: My Life Is a Lie
The official poverty line for a family of four in 2024 is $31,200. The median household income is roughly $80,000. We have been told, implicitly, that a family earning $80,000 is doing fine—safely above poverty, solidly middle class, perhaps comfortable.
But if Orshansky’s crisis threshold were calculated today using her own methodology, that... See more
But if Orshansky’s crisis threshold were calculated today using her own methodology, that... See more
Part 1: My Life Is a Lie
The composition of household spending transformed completely. In 2024, food-at-home is no longer 33% of household spending. For most families, it’s 5 to 7 percent.
Housing now consumes 35 to 45 percent. Healthcare takes 15 to 25 percent. Childcare, for families with young children, can eat 20 to 40 percent.
If you keep Orshansky’s logic—if you... See more
Housing now consumes 35 to 45 percent. Healthcare takes 15 to 25 percent. Childcare, for families with young children, can eat 20 to 40 percent.
If you keep Orshansky’s logic—if you... See more