Census Bureau report displays boost in poverty
Highest percentage since 1993
The national poverty rate last year hit 46.2 million people, up from 43.6 million in 2009. About 52 years ago, reports started to be kept. We're at the highest rate since then. The 2010 poverty number are "approaching amounts not seen since Lyndon B. Johnson launched the War on Poverty in 1965," says the LA Times.
The poverty rate rose 0.8 percent from last year to 15.1 percent, the highest percentage since 1993, which also topped out at 15.1 percent.
Median incomes also fell
We may also look at the median household revenue. It fell too. There was a 2.3 percent drop from 2009 to 2010 to $49,445. The number of Americans without medical insurance also rose to 49.9 billion. A rise was shown in the amount of kids living in poverty also. It went up to 22 percent from 20.7 percent.
Not getting better soon
The disheartening numbers are likely to continue into the 2011 report, according to analysts. The country suffered a financial rating downgrade this year and unemployment remains stagnant at more than 9 percent.
For one person, the poverty threshold was at $11,139 in 2010 while it was $22,314 for a family of four. Revenue does not contain food stamps or tax credits. If it had, many of those counted as beneath the poverty line would have increased above it. It also helps people to have unemployment benefits. It would push several over the line.
You could expect worse
The poverty level in the country is downplayed, some experts believe. This is due to many factors. Young adults are considered part of their parent’s revenue still when they cannot discover jobs. The poverty threshold shouldn’t be considered in today’s economic climate, experts believe, since it was created about fifty years ago.
President Obama’s strategy
The Census Bureau report comes on the heels of President Obama's push for a $450 billion jobs creation bill. Controversy over the government welfare programs is sure to rise with the report.
Poverty rate is pretty high
When compared to the developed nation, the U.S. has had higher poverty rates than most for quite a while. Only Chile, Israel and Mexico have higher poverty rates.