US Poverty Level Highest in 47 Years

But don’t call it a depression. It’s a recovery. And if we “recover” any more, we’ll be Greece.

The poverty rate now approaches 50 million people and comprises 16 percent of the population. This is the highest these numbers have been since the 1960s. And the news isn’t getting any better.

Economists pointed to a telling statistic: It was the first time since the Great Depression that median household income, adjusted for inflation, had not risen over such a long period, said Lawrence Katz, an economics professor at Harvard.

The suburban poverty rate, at 11.8 percent, appears to be the highest since 1967, Mr. Sherman added. Last year more Americans fell into deep poverty, defined as less than half the official poverty line, or about $11,000, with the ranks of that group increasing to 20.5 million, or about 6.7 percent of the population.

The poverty rate is worse than it was under Bush or Carter. It didn’t even get this bad under Jimmy I.

Meanwhile jobless claims are up again.

The Department of Labor has announced that new jobless claims rose by a staggering 78,000 in the first week after the election, reaching a seasonally-adjusted total of 439,000.

  • κατεργάζομαι

    "US Poverty Level Highest in 47 Years."

    Barack Obama is manipulating poverty statistics to cover income redistribution on a massive scale.

    Read more:

    Medicaid benefits since a vastly enlarged population will now be entitled to receive the program's benefits. Eventually-in 2020-states will be responsible for these costs. This will devastate state budgets and lead to other programs (education, police, fire, etc) being stripped of funds and higher taxes on taxpayers.

  • ErikKengaard

    Much of our poverty has been imported. Even Paul Krugman recognized that the real increase in wages in the 1940s and 1950s was because restrictive immigration laws limited the number of workers available.

  • κατεργάζομαι

    The reparations racket has been around for years. Over 100 million Americans now receive TRILLIONS in federal (stick it to Whitey) welfare reparations.

    ……and TAXPAYERS don't even get a KISS.

    The AMERICAN "POVERTY" is our absence of Biblical & CONSTITUTIONAL EDUCATION!

  • ErikKengaard

    And the low birth rate in the 1930s led to further real increases in wages, and, as important, the relatively low cost of housing, during the 1960s. Compare with the lack of increase in wages, high cost of housing, and high population density of the day. Correlation, And cause and effect.

  • κατεργάζομαι

    QUESTION: What does it mean to be poor in America today?

    For typical "poor" households — as defined by the government — it means cable television, two color television sets, and two or more cars!

    As for housing, those "POOR" Obamites' means living in air-conditioned comfort —

    ~"POOR" also means living in decent accommodations with more space than Europeans.
    ~ Moreover, most "poor" Americans get the medical care they need.
    ~They eat MORE than enough.

    — in fact, OBAMA voters often eat too much.

    In short, the lifestyles of most "poor" OBAMA Americans are vastly at odds with dire government statistics about poverty in America — statistics that invariably send liberals and media pundits into hand-wringing fits and moralistic outrage.

    Behold poverty's Catch-22 <a href="http://:” target=”_blank”>: