Thursday, December 15, 2011

Census: Report shows nearly 50% of American people are poor or low-income

QUOTE: Squeezed by rising living costs, a record number of Americans — nearly 1 in 2 — have fallen into poverty or are scraping by on earnings that classify them as low income.
The latest census data depict a middle class that's shrinking as unemployment stays high and the government's safety net frays. The new numbers follow years of stagnating wages for the middle class that have hurt millions of workers and families."Safety net programs such as food stamps and tax credits kept poverty from rising even higher in 2010, but for many low-income families with work-related and medical expenses, they are considered too 'rich' to qualify," said Sheldon Danziger, a University of Michigan public policy professor who specializes in poverty. 

Yet another reason to ignore the statistics put out by the Labor Department each week.  By ignoring those who have exhausted their benefits the unemployment rate magically shrinks.  Hmmm...  I'm curious if anyone believes those Employment press releases anymore?  

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