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Economy
US poverty to jump highest since 1960s
2012-07-23
[Iran Press TV] Poverty in the United States is projected to climb to the highest level in nearly half a century as the recession threw millions of people out of work last year. According to a survey conducted by The News Agency that Dare Not be Named, US poverty could reach a 46-year high, with suburban families, underemployed workers, and children among the hardest-hit people, the news agency reported on Sunday.

The census was based on expert opinions from more than a dozen economists and academics in the US. The figures are expected to be made public just weeks ahead of the November presidential elections.

The data also showed that the official poverty rate could have reached 15.7 percent in 2011, which reflects a whopping increase of six percent compared to the previous year.

"I'm reluctant to say that we've gone back to where we were in the 1960s," said Peter Edelman, director of the Georgetown Center on Poverty, Inequality, and Public Policy.

"The programs we enacted make a big difference. The problem is that the tidal wave of low-wage jobs is dragging us down and the wage problem is not going to go away anytime soon," he added.
Posted by:Fred

#7  Go figure. I don't get it.
Posted by: JohnQC   2012-07-23 20:40  

#6   2/3 of the country believe it is Obama's fault

Yet over half still support him. I guess it's not 'all about the economy' anymore.
Posted by: Glenmore   2012-07-23 18:47  

#5  Yeah, and 2/3 of the country believe it is Obama's fault. The other 1/3 must be Donks.
Posted by: JohnQC   2012-07-23 14:52  

#4  An organization/country is only as good as its leadership. The United States has third world leadership.
Posted by: Winky Guelph1968   2012-07-23 09:42  

#3  Well, if your objective is to destroy the middle class and the republic of which they are the foundation of, then the plan is working well.
Posted by: Procopius2k   2012-07-23 09:08  

#2  Who'd have thought that taxing wages meant people had less money to employ people with and thus higher unemployment and lower wages for the less productive!

It's like it was totally predictable or something. Next you'll be telling me the massive increase in debt (and subsequent bust) was totally predictable too!

Keynesians know this is totally unpredictable.

/sarc
Posted by: Bright Pebbles   2012-07-23 07:25  

#1  Highest level since the "War on Poverty" started.

A neverending war/quagmire now consuming a large percentage of all government expenditures, and set to rise even further, in the name of Obumble's "Fairness". Even in Vietnam, Congress was able to 'cut and run.'
Posted by: Bobby   2012-07-23 06:05  

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