When Obama and the democrats decided to follow the FDR economic model, you just new things wouldn’t turn out well. Now we have a poverty rate, unlike any other since the U.S. Census Bureau began gathering data:
The U.S. poverty rate rose to the highest level in almost two decades and household income fell in 2010, underscoring the lingering impact of the worst economic slump in seven decades.
Data released by the Census Bureau today showed the proportion of people living in poverty climbed to 15.1 percent last year from 14.3 percent in 2009, and median household income declined 2.3 percent. The number of Americans living in poverty was the highest in the 52 years since the U.S. Census Bureau began gathering that statistic. Those figures may have worsened in recent months as the economy weakened.
“Families are struggling to put food on the table, and they don’t have the purchasing power to help the economy recover,” said Isabel Sawhill, a senior fellow at the Brookings Institution in Washington.
We now have 46.2 million people who’ve descended into the ranks of poverty. The 1930’s was called the Great Depression for a reason. Unfortunately, those in power haven’t learned from history and have condemned all of us to repeat it.
Source: http://www.bloomberg.com/news/2011-09-13/poverty-in-u-s-climbed-to-17-year-high-in-2010-as-household-income-fell.html
The U.S. poverty rate rose to the highest level in almost two decades and household income fell in 2010, underscoring the lingering impact of the worst economic slump in seven decades.
Data released by the Census Bureau today showed the proportion of people living in poverty climbed to 15.1 percent last year from 14.3 percent in 2009, and median household income declined 2.3 percent. The number of Americans living in poverty was the highest in the 52 years since the U.S. Census Bureau began gathering that statistic. Those figures may have worsened in recent months as the economy weakened.
“Families are struggling to put food on the table, and they don’t have the purchasing power to help the economy recover,” said Isabel Sawhill, a senior fellow at the Brookings Institution in Washington.
We now have 46.2 million people who’ve descended into the ranks of poverty. The 1930’s was called the Great Depression for a reason. Unfortunately, those in power haven’t learned from history and have condemned all of us to repeat it.
Source: http://www.bloomberg.com/news/2011-09-13/poverty-in-u-s-climbed-to-17-year-high-in-2010-as-household-income-fell.html
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