BERKELEY, Calif.–African American, Asian American and Latino senior citizens are economically vulnerable and getting more so, a new report from the Greenlining Institute has found. Because they have less access to pensions or other forms of retirement savings, these groups may be particularly vulnerable to the effects of cuts to Social Security and Medicare likely to be considered by the 12-member special congressional committee created by the budget deal signed this week by President Obama.
The report, available online at www. greenlining.org, concludes:
An astonishing 91 percent of African American and Latino seniors are financially vulnerable. While data on Asian Americans is more sparse, some Asian ethnic groups have poverty rates three to four times that of Whites.
