Final answer:
The statement that the elderly are the most likely age group to be living in poverty today is false. While poverty rates among the elderly have increased slightly following the 2008 recession, they have generally been on a downward trend over the last few decades, thanks in part to assistance programs like Social Security and Medicare.
Step-by-step explanation:
In addressing the question of whether the elderly are the age group most likely to be living in poverty today, the data indicates that this statement is false. Historically, the elderly did face a high risk of poverty, with rates as high as almost 35 percent in 1960. However, over the years, poverty rates among the elderly have significantly decreased. By 2008, the rate was down to 9.7 percent, which was below the national average. Nevertheless, the 2008 recession had a negative impact, causing an increase to 14 percent by 2010, yet this does not make the elderly the most likely demographic to live in poverty today.
Assistance programs such as Social Security and Medicare have been pivotal in supporting the elderly and reducing poverty rates in this age group. In developed countries, the elderly population is growing, and though the poverty rate may fluctuate due to economic events such as recessions, there is a general trend towards improvement over the past several decades.
Furthermore, age structures in economically undeveloped countries show a higher proportion of younger people compared to the elderly, which usually correlates with different poverty dynamics.