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4 Bogus Right-Wing Theories About Poverty, and the Real Reason Americans Can’t Make Ends Meet
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We have an economic crisis that is kept out of sight and out of mind.
When is a secret not at all secret? Consider the fact that one in three Americans are poor, if we define it as struggling to cover the basic necessities of life. That’s according to a Census Bureau analysis, and it was reported in the New York Times, but I have yet to hear a politician or pundit make reference to this eye-opening reality of our vaunted “new economy.”
In 2011, the Census Bureau took a new look at the “near-poor” – Americans with incomes between 100 and 150 percent of the poverty line. They found that this group, most of whom earn paychecks and pay taxes, represented a whopping one in six U.S. households – a figure that was almost twice as high as had previously been thought.
When those under the poverty line are added, Census found that a stunning 33 percent of the population was struggling to make ends meet in 2010. Analyzing the Census data, the Working Poor Project suggested that the number of near-poor, which they define as those making between 100 and 200 percent of the poverty line, continued to inch up in 2011 as many returning to work in this sluggish recovery have been forced to settle for lower-paying service jobs.
Nearly four years after economists tell us the “recovery” began, almost half of all American households lack enough savings to stay above the poverty line for three months or more if they should find themselves out of work. Another third are living paycheck to paycheck, teetering on the brink with no savings at all.
Philosophers stone – selected views from the boat
http://philosophers-stone.co.uk
2013-02-24 04:35:53
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