White House: ‘Still more to do” to help Americans save

NEW YORK – 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.