Another Obama Record!… Poverty Rate Soars to 18 Year High
Another Obama Record!
The percentage of Americans living in poverty is the highest in 18 years.
The Bottom Line reported:
The number of Americans who have fallen into poverty rose to 15.1 percent in 2010, the highest level in nearly two decades, the Census Bureau said Tuesday in a report.
The report, which showed the poverty rate rose for a third straight year as the economy struggles with a stumbling recovery and persistent high joblessness, said the number of poor Americans in 2010 was the largest in the 52 years that it has been publishing poverty estimates, according to Reuters.
There were 46.2 million people in poverty in 2010, up from 43.6 million in 2009 ─ the fourth consecutive annual increase in the figure.
In a report that covers the first full calendar year after the end of the Great Recession, the bureau also said real median income dropped for the third year in a row.
Median household income in the United States in 2010 was $49,445, a 2.3 percent decline from the 2009 median, after adjusting for inflation.