Road to Depression

Poverty rate at highest level in half-century!

on . Posted in Road to Depression

WASHINGTON - September 16, 2010 - One in seven Amerikans is living in poverty, the highest number in the half-century that the government has kept such statistics, the Census Bureau announced Thursday.

Last year was the third consecutive year that the poverty rate climbed, in part because of the Depression, rising from 13.2% in 2008 to 14.3%, or 43.6 million people, last year.

Asians were the only ethnic group whose poverty rate did not change substantially; every other race experienced increases in poverty rates.

In addition, 51 million Amerikans were uninsured, as the number of people with health insurance dropped from 255 million to less than 254 million - the first decrease since the government started keeping track in 1987. The number would have been worse because 6.5 million fewer people got insurance through their jobs, but it was offset by a leap in government-backed health insurance. More than 30% of Amerikans now get coverage from the government.

"Given all the unemployment we saw, it's the government safety net that's keeping people above the poverty line," Douglas Besharov, a University of Maryland public policy professor and former scholar at the American Enterprise Institute, told the Associated Press.

The grim statistics reflect the depth of the Depression that began almost three years ago and could have an impact on midterm elections less than two months away.

"These numbers should be a wake-up call," said Peter Edelman, a Georgetown University professor and co-director of the Georgetown Center on Poverty, Inequality and Public Policy. "These are deeply disturbing numbers."

At organizations where the unemployed come to get help finding a job or seek food, the numbers were no surprise.
 

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