Since 1973, families headed by someone younger than 30 years of age have experienced a collapse in the value of their incomes, a surge in poverty, and an erosion of employer-provided health benefits. This report details the deep economic losses among young families with children and warns of consequences from these losses for young and old Americans alike. The report shows that children bear the greatest costs, including the lifetime of lost learning and lost potential for advancement associated with even a short stay in an impoverished family. The report reveals that while America is richer today than ever before, with greater resources for strengthening families than most other developed countries, it actually does less than other developed nations to aid struggling working families. It is recommended that young families should be aided with adequate wages and incomes, education, training, health care, child care, and affordable housing. Demographic data for these families and the reasons for their increasing poverty are provided, including tables and graphs of this data. (JPB)