White House: ‘Still more to do” to help Americans save
Posted May 19, 2016 12:08:51 PM.
Last Updated May 19, 2016 12:40:22 PM.
This article is more than 5 years old.
NEW YORK, N.Y. – The White House says there is “still more to do” to help Americans save money in reaction to an Associated Press poll that showed two-thirds of Americans would have difficulty raising $1,000 to cover an emergency.
The poll showed that large percentages of Americans, even households making more than $100,000 a year, do not have $1,000 readily accessible — a level of savings considered by experts a cornerstone to financial stability.
The White House said President Obama has outlined several ideas over the years, including a proposed wage insurance program, which would protect a worker’s pay after losing a job and creating a program that would make emergency funds available to low-income families in the event of a small financial shock.