Policymakers Should Help Working Families, Not Affluent Seniors

Source: SIPP; SHED (2022)

Washington policy debates often assume seniors are the most financially vulnerable Americans. The data tells a different story.

Seniors are the wealthiest age cohort in the country. By a wide margin. That outcome reflects decades of work, saving, and asset accumulation, and it should not be viewed as a failure.

The real financial strain shows up elsewhere. Young families with children are far more likely to struggle with basic needs.

Data shows younger Americans are more likely to fall behind on utility bills, skip meals, miss medical appointments, and face housing problems. These pressures peak during prime working and family-raising years, when household expenses are highest and income is often stretched thin.

As Americans age, those hardships decline. By retirement, rates of food insecurity, utility stress, and unmet health needs fall sharply. Seniors consistently report the lowest levels of financial strain across these measures.

Public policy should reflect where need actually exists. Instead, Washington continues to prioritize programs and subsidies tilted toward older Americans, while working families absorb rising housing costs, child care expenses, and health insurance premiums with limited relief.

That imbalance matters. Working families are raising the next generation of workers and taxpayers. When they struggle to meet basic needs, the long-term economic consequences are unavoidable.

Helping seniors who genuinely need assistance will always be important. But treating seniors as a broadly vulnerable group ignores the data.

If policymakers want to target hardship honestly, the focus should be clear. Working families need help. Affluent seniors do not.