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Poor Folk

September 16, 2010

Well, here’s some depressing news. It appears that the poverty rate increased sharply during 2009, with “1 in 7 Americans” living in poverty.

Reporting income and poverty statistics for 2009, the [Census] Bureau said median income did not change substantially, remaining around $49,800. But the poverty rate climbed to 14.3 from 13.2 percent. That means that during 2009, 43.6 million people lived on less than the equivalent of $21,756 for a family with two adults and two children.

Ouch. Further adding to the troubling news is that economists “project that the average annual unemployment rate will continue to rise through 2011 — an unprecedented four year, year-on-year increase.”

It also appears that 50.7 million Americans have no health insurance, which is an increase of 4 million.

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