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Poverty Rate Rises in America

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    Poverty Rate Rises in America






    Poverty rate rises in America ~ source



    NEW YORK (CNNMoney) -- Amid a still struggling economy, more people in America fell below the poverty line last year, according to new census data released Tuesday.

    The nation's poverty rate rose to 15.1% in 2010, its highest level since 1993. In 2009, 14.3% of people in America were living in poverty.

    "The results are not surprising given the economy," said Paul Osterman, a labor economist at MIT. "You would expect with so many people unemployed, the poverty rate would go up. It's just another sign of what a difficult time this is for so many people."

    About 46.2 million people are now considered in poverty, 2.6 million more than last year.

    The government defines the poverty line as income of $22,314 a year for a family of four and $11,139 for an individual. The Office of Management and Budget updates the poverty line each year to account for inflation.
    How the rich became the über rich

    Middle-class wealth falls: For middle-class families, income fell in 2010. The median household income was $49,445, down slightly from $49,777 the year before.

    Median income has changed very little over the last 30 years. Adjusted for inflation, the middle-income family only earned 11% more in 2010 than they did in 1980, while the richest 5% in America saw their incomes surge 42%.

    "Over that period of time, it's not that the American economy has necessarily performed badly," Osterman said. "As a country we're richer over that period, but there's been this real shift in where the income has gone, and it's to the top."

    Amplifying that trend, the bottom 60% of households saw their income fall last year, while households making $100,000 or more enjoyed a rise in income.
    Check the poverty rate in your state

    More children in poverty: The poverty rate for children under age 18 increased to 22% in 2010, meaning more than 1 in 5 children in America are living in poverty.

    Meanwhile, the poverty rate for adults ages 18 to 64 rose to 13.7%.

    For people 65 and older, the poverty rate was barely changed at 9%.

    Following the recession, fewer young adults are moving out of their parents' homes. Last year, 5.9 million young adults age 25 to 34 still lived with their folks, compared with 4.7 million before the recession.

    Race and gender factors: By race, the poverty rate was lowest for non-Hispanic whites at 9.9%.

    Blacks had the highest rate at 27.4%, followed by people of Hispanic origin at 26.6%. Asians had a poverty rate of 12.1%.

    About 14% of men were below the poverty line, compared to 16.2% of women.

    Families headed by a married couple had only a 6.2% poverty rate, whereas families with a single mother had a 31.6% rate, and families with a single father had a 15.8% rate.

    South hit the hardest: For the fifth year in a row, Mississippi households were the poorest in the country, this time with a median income of $37,985. New Hampshire households had the highest median income, at $66,707.

    Among different regions of the country, the South had the highest poverty rate at 16.9%, while the Northeast had the lowest rate at 12.8%.

    The poverty rate was 13.9% in the Midwest and 15.3% in the West.

    The income used to calculate poverty status includes earnings, workman's compensation, unemployment insurance, Social Security, veteran's payments, pensions, interest and dividends, and just about every other source of cash.

    It does not, however, include capital gains, so, theoretically, millionaires could qualify as poor if they lived solely by selling off investments.

    Non-cash benefits, such as food stamps or subsidized rents, also do not count as income.
    Check the uninsured rate in your state

    More people are uninsured: The census report also contained data on health insurance, showing people lacking medical benefits climbed to 49.9 million last year, up from 49 million in 2009.

    Overall, about 16.3% of people in America were uninsured in 2010, statistically unchanged from 2009.
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    Like George Carlin said " the poor are there to scare the shit out of the middle class and keep them showing up to their jobs"

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    Last edited by Big Pimpin; 09-13-2011 at 01:48 PM.

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    the increasing poverty rate is on top of the 20% of the labor force that is underemployed. this is the sum of 40 years of neo-liberal economic policy that is weighed far to heavily on capital and investment while labor/human capital has been kicked to the curb.
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

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    Hey LAM is Obama part of this neo-liberal economic policy based on his actions not his rhetoric?

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    Quote Originally Posted by ExLe View Post
    Hey LAM is Obama part of this neo-liberal economic policy based on his actions not his rhetoric?
    Obama is a progressive...

    the main function of the POTUS is to insure that the fed gov functions in accordance with the US constitution. the primary function of the House is to write legislation/policy.

    with the low amount of economic knowledge by the average citizen in the US and the continuing education of them via televised media outlets this trend will continue until the US has an equivalent economy of Mexico. our debt already rivals that of Greece.
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

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    Well it looks like the televised media outlets and Obama has you fooled into thinking he is a progressive. "The Jokes on you"

    He is a fauxgressive "fake progressive" and supports the same politics you always speak against.

    Read this article, good read about this
    Is Obama a Fauxgressive – a Fake Progressive, or Simply a Non-Progressive? « Death By Trolley

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    Quote Originally Posted by ExLe View Post
    Well it looks like the televised media outlets and Obama has you fooled into thinking he is a progressive. "The Jokes on you"

    He is a fauxgressive "fake progressive" and supports the same politics you always speak against.

    Read this article, good read about this
    Is Obama a Fauxgressive – a Fake Progressive, or Simply a Non-Progressive? « Death By Trolley
    kind of hard to get anything done for the people when you walk into office with a 9-10T dollar debt laying there...kid of limits your ability to do anything. and with all that helpful legislation out of the House..well
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

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    He had the House and the Senate for 2 years. Could have passed and done anything his progressive heart dreamed of. And after he half assed it he lost the house and almost the Senate. 2 more House seats just went Republican.

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    Its all bush's fault
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    A study released Tuesday by the United States Census Bureau shows that Americans below poverty line is highest number since records began. The findings suggests that more and more Americans are giving up their battle to stay afloat in an economic climate that refuses to recuperate. The number of Americans residing beneath the poverty line has increased to its highest number since the bureau started keeping such reports in 1959.

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    Quote Originally Posted by monicaW View Post
    A study released Tuesday by the United States Census Bureau shows that Americans below poverty line is highest number since records began. The findings suggests that more and more Americans are giving up their battle to stay afloat in an economic climate that refuses to recuperate. The number of Americans residing beneath the poverty line has increased to its highest number since the bureau started keeping such reports in 1959.


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    Quote Originally Posted by Dark Geared God View Post
    Its all bush's fault
    take a look at the fall of the share of the national income that goes to labor from 2001 to 2009. that is the result of economic policy...since 1980 every downward trend in labors share occurs during a republican presidency.

    Nonfarm Business Sector: Labor Share
    Nonfarm Business Sector: Labor Share (PRS85006173) - FRED - St. Louis Fed
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

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    Quote Originally Posted by LAM View Post
    take a look at the fall of the share of the national income that goes to labor from 2001 to 2009. that is the result of economic policy...since 1980 every downward trend in labors share occurs during a republican presidency.

    Nonfarm Business Sector: Labor Share
    Nonfarm Business Sector: Labor Share (PRS85006173) - FRED - St. Louis Fed

    looks like it has dropped the most under Obama.

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    Quote Originally Posted by ExLe View Post
    looks like it has dropped the most under Obama.
    Yeah, but it's never his fault. Ever.


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    Quote Originally Posted by ExLe View Post
    looks like it has dropped the most under Obama.
    that surely couldn't have anything to do with the 8million jobs what were lost as a result of the banking collapse in 2007. since 2001 the US is down 14M jobs.

    as the graph clearly shows Obama inherited the poorest middle class in 60years most had no savings...

    low wage paying jobs in the service sector don't provide enough income..wtf is a an adult person supposed to do with $8-$14 an hour in 2010/11?

    Employment and wages of the largest occupations, May 2010
    http://www.bls.gov/oes/current/largest_occs.htm


    this stuff is basic mathematics...but then again apparently Americans suck at math..

    http://www.google.com/hostednews/afp...cac3cfe339.1c1
    Last edited by LAM; 09-15-2011 at 09:11 PM.
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

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    can I ask why we didn't just forgive all the mortgage's of all the people who still owed rather than just dumping money on the banks?.. that would've cut household bills a ton and shouldn't have hurt inflation too much.. idk I'm not much on politics or economy..
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    Quote Originally Posted by jtterrible View Post
    can I ask why we didn't just forgive all the mortgage's of all the people who still owed rather than just dumping money on the banks?..
    in a pseudo capitalist society that is turning more fascist every year that is not a viable option. profits of the financial sector in the US are more important than the people...profits over people is the new American way
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

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    Quote Originally Posted by LAM View Post
    in a pseudo capitalist society that is turning more fascist every year that is not a viable option. profits of the financial sector in the US are more important than the people...profits over people is the new American way

    It's always a some type of pseudo capitalist society or a neo liberal agenda. Obama has followed the Bush policies on the economy and foreign affairs. The big blank stimulus check to the banks and wall street was originaly the Bush administraitions solution.

    Yes Obama inherited a bad economy with major debt, but he has only made everything even worse by doubling down on the exact same agenda and a crappy health care bill. When you will admit the Obama administration has only fucked things up even worse and follows the exact same agenda that you are always preaching against.

    You can't even defend Obamas policies, you just blame the system. He came into the POTUS with full controll of the house and the senate and could have changed anything. The truth is the Obama presidency was bought by GE, big buisness, and the media and he will always be called on to do their bidding. Even your own graph you posted shows how labor shares have fallen under Obama and you still can't admit to yourself how he is just not cutting it.

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    Quote Originally Posted by ExLe View Post
    It's always a some type of pseudo capitalist society or a neo liberal agenda. Obama has followed the Bush policies on the economy and foreign affairs. The big blank stimulus check to the banks and wall street was originaly the Bush administraitions solution.

    Yes Obama inherited a bad economy with major debt, but he has only made everything even worse by doubling down on the exact same agenda and a crappy health care bill. When you will admit the Obama administration has only fucked things up even worse and follows the exact same agenda that you are always preaching against.

    You can't even defend Obamas policies, you just blame the system. He came into the POTUS with full controll of the house and the senate and could have changed anything. The truth is the Obama presidency was bought by GE, big buisness, and the media and he will always be called on to do their bidding. Even your own graph you posted shows how labor shares have fallen under Obama and you still can't admit to yourself how he is just not cutting it.
    I agree with you Obama has done a terrible job, but you don't think the GOP is partly if not mostly responsible for holding the economy hostage? I.e., Bush Tax cuts for all or for no one, Tax revenues are a non-starter, holding the debt ceiling hostage and lowering our credit rating, etc.
    If sense were common, everyone would have it.

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    Quote Originally Posted by Dale Mabry View Post
    I agree with you Obama has done a terrible job, but you don't think the GOP is partly if not mostly responsible for holding the economy hostage? I.e., Bush Tax cuts for all or for no one, Tax revenues are a non-starter, holding the debt ceiling hostage and lowering our credit rating, etc.

    S&P's explicit criticism of the compromise was that it didn't address the biggest drivers of the nation's debt. Social Security and Medicare.

    The Democrats wanted to raise taxes for additional revenue, but everyone knows you don't raise taxes during a recession and make the economy worse so they refused and did rightfully so. The Republicans in the house wanted a budget amendment to help get our spending under control. but the Senate Dems turned it down.

    I blame both Bush and Obama for the debt mess we are in, but right now the Republicans are the ones addressing the problems of the debt and social security while Obama and the Dems want to spend another 500 billion and refuse to be honest with the American people about social security going bust if it is not reformed.

    Even Obama agrees on tax hikes during a recession


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    The debt problem isn't currently our biggest problem, jobs are. In order to create jobs they are going to need to spend money. This will increase our debt. Take for instance, the people about to fall off unemployment. With 14 million unemployed, let's assume half of them have been so for more than a year. Let's also assume they just said fuck off to these people, and no longer gave them benefits, and let's assume they can't get welfare and medicare, although that is right where they are going. That is 7 million less people to buy products in an economy where nobody is spending any money. This will force big corporations to lay off people, because $2 trillion isn't enough to sit on, and there's no way they are cutting in to their profits. This forces more people in to unemployment, therefore costing us more.

    So, you have Big corporations already raking in record profits in an economy where 14 million are unemployed laying off more people (BoA just laid off 30k after getting a $5billion boost from Warren Buffet a week ago). Everybody knows they ship all of their jobs overseas to slave labor so they can save millions. You believe the best solution to a problem where this is happening, is to give even more money to big corporations to continue to do this. You think this is a better idea than taking that money from them, investing it in our future by improving our infrastructure and hiring AMERICAN workers? You would have to be absolutely fucking retarded to believe this is the best direction. Any person with a molecule of logic should be able to see this.
    If sense were common, everyone would have it.

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    almost 85% of the current deficit (including future loan servicing obligations) was caused by borrowing money for middle east wars and the 8 years of supply-side tax cuts under GWB from 2003, those alone are going to cost close to 4T for job creation at the rate of .01% annually. then add in the cost of the bailout for the banking sector (which is comprised of the majority of millionaires and billionaires in the US).

    so who benefited from all this? wallstreet and the banks (both of which are totally self-serving industry's) and the MIC...

    everyone else got screwed.....americans need to turn off their tv's and take some math classes so they can learn the facts from the fiction...
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

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    income down, prices up= poverty

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    And things are going to get worst before they get better...just as Paul Krugman and the economists at the EPI and Brookings Institute had stated that with a GDP of 14T the original stimulus in 2009 was not big enough at 750B, spread out over the years. and with fiscal contraction of the government spending occuring when unemployment is still high this makes the problem worst and the recovery slower and longer.

    U.S. Nominal Gross Domestic Product GDP Growth Forecast


    Recovery.gov: Track the Money
    Recovery.gov - Tracking the Money

    Focus on Prices and Spending | Consumer Prices | Volume 2, Number 3

    Income, Poverty, andHealth Insurance Coverage in the United States: 2010
    http://www.census.gov/prod/2011pubs/p60-239.pdf

    Root Causes of the "Depression"

    Income Inequality and the Great Recession
    http://jec.senate.gov/public/?a=File...3-8f3b584a088c

    Partisan Politics and the U.S. Income Distribution
    http://www.princeton.edu/~bartels/income.pdf

    Nonfarm Business Sector: Labor Share (PRS85006173)
    Nonfarm Business Sector: Labor Share (PRS85006173) - FRED - St. Louis Fed
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

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