All midlife and older Americans have been feeling the impact of the recession. But the effects have been even harsher for African-American and Hispanic retirees and baby boomers heading for retirement, according to a new AARP study.
AARP's "Closer Look" survey of nearly 1,000 Americans ages 45 and older shows that in the past year ethnic boomers and elders have struggled to pay their medical costs; had trouble paying for food, heating and other essential needs; lost jobs or saw their hours cut; and were compelled to hunt for affordable housing in greater percentages than their white counterparts.
"We are seeing a disappearing middle class," said David Certner, AARP's legislative policy director.
Social and economic differences occurred long before the recession, but Certner said the "differences have been exacerbated for African Americans and Hispanics." READ FULL STORY
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