This data just released by CNN:
More Americans fell below the poverty line last year, according to U.S. Census Bureau data released Tuesday.
The nation's poverty rate rose to 15.1% in 2010, up from 14.3% in 2009 and to its highest level since 1993.
Last year marked the third year in a row the rate increased. All told, 46.2 million people are considered in need. In addition, real median household income last year was $49,445, a 2.3% decline, the Census Bureau reported.Not published in this news alert from CNN but data I have seen recently, indicates that over 40 million people are now receiving food stamps and over 5 million children go to sleep hungry in this country each night.
The increase in food stamp participants are largely from what used to be the GREAT American middle class.
Amazing that the only industry that seems to be flourishing - at least in terms of personal incomes - is the financial bankster industry.
Stay tuned folks, this REcession is still alive and well and will continue for the next several years. Unless you have not noticed, unemployment is on the rise with zero new jobs last month and close to 900,000 newly unemployed in just two weeks of last month.
In case you have not noticed, inflation - a word we do not hear about much these days as it is obviously kept under raps by our beloved government - is on the rise. How do I know? No, I am not an economist nor am I a researcher. I am however, a shopper, that average Joe (not rally my name) that has some very basic needs like food and fuel. While I try to shop wisely, I notice that prices in grocery stores have gone up as much as 40% in some cases. Even in so called discount or low price grocery stores like Aldi's, where at the beginning of the year I paid $2.29 for a gallon of milk, the price is now 2.99 an increase of 31%. Eggs were 97 cents a dozen they are now $1.49/doz, an increase of 54%.
Fuel prices we all see at the pumps so no need to go into that but in general there has been over a 30% increase there. It is interesting to see that when oil used to be $86/barrel that the price per gallon at the pump was in the low $2 range but recently when oil was at that same price per barrel our price at the pumps was at arund $3.75. How can you explain that? Perhaps some manipulation between the oil companies and the banksters? Do you think Goldman Sachs is profiting off of the increase profits being made by the oil companies?
Of course, when our government calculates inflation they do not include food in those figures. Our inflation reports for years now have been inaccurate - another lie from our beloved government gone wild. It is my opinion that the first item on the list of inflation should be food as that is what most human beings will spend their money on first. I believe that to sustain life one must have sustenance unless there is this plan of survival of the fittest (wealthiest).
From U.S Census Bureau:
The data presented here are from the Current Population Survey (CPS), 2011 Annual Social and Economic Supplement (ASEC), the source of official poverty estimates. The CPS ASEC is a sample survey of approximately 100,000 household nationwide. These data reflect conditions in calendar year 2010.See graph...click here
- The official poverty rate in 2010 was 15.1 percent — up from 14.3 percent in 2009. This was the third consecutive annual increase in the poverty rate. Since 2007, the poverty rate has increased by 2.6 percentage points, from 12.5 percent to 15.1 percent.
- In 2010, 46.2 million people were in poverty, up from 43.6 million in 2009—the fourth consecutive annual increase in the number of people in poverty.
- Between 2009 and 2010, the poverty rate increased for non-Hispanic Whites (from 9.4 percent to 9.9 percent), for Blacks (from 25.8 percent to 27.4 percent), and for Hispanics (from 25.3 percent to 26.6 percent). For Asians, the 2010 poverty rate (12.1 percent) was not statistically different from the 2009 poverty rate.1
- The poverty rate in 2010 (15.1 percent) was the highest poverty rate since 1993 but was 7.3 percentage points lower than the poverty rate in 1959, the first year for which poverty estimates are available.
- The number of people in poverty in 2010 (46.2 million) is the largest number in the 52 years for which poverty estimates have been published.
- Between 2009 and 2010, the poverty rate increased for children under age 18 (from 20.7 percent to 22.0 percent) and people aged 18 to 64 (from 12.9 percent to 13.7 percent), but was not statistically different for people aged 65 and older (9.0 percent).2
1 The poverty rate for Blacks was not statistically different from that of Hispanics in 2010.
2 Since unrelated individuals under 15 are excluded from the poverty universe, there are 422,000 fewer children in the poverty universe than in the total civilian noninstitutionalized population.