The Conservative Cave

Current Events => Economics => Topic started by: thundley4 on September 10, 2009, 12:35:30 PM

Title: U.S. poverty rate hits 11-year high as recession bites
Post by: thundley4 on September 10, 2009, 12:35:30 PM: Quote
WASHINGTON (Reuters) â€“ The U.S. poverty rate hit its highest level in 11 years in 2008 as the worst recession since the Great Depression threw millions of Americans out of work, a government report showed on Thursday.
The Census Bureau said the poverty rate rose to 13.2 percent in 2008, the highest level since 1997, from 12.5 percent in 2007. About 39.8 million Americans were living in poverty, up from 37.3 million in 2007.
The government defines poverty as an annual income of $22,025 for a family of four, $17,163 for a family of three and $14,051 for a family of two.
Real median household income fell 3.6 percent, the biggest annual drop since 1991, to $50,303 in 2008.
Yhaoo (http://news.yahoo.com/s/nm/20090910/ts_nm/us_usa_economy_poverty_4)

Does anyone think these numbers will be worse for this year?
Title: Re: U.S. poverty rate hits 11-year high as recession bites
Post by: JohnnyReb on September 10, 2009, 03:19:28 PM: 2008 minus 11 years equal....hey, that wasn't under Bush. You can't be posting that because that would mean the Bush economy wasn't the worst ever.
Title: Re: U.S. poverty rate hits 11-year high as recession bites
Post by: djones520 on September 10, 2009, 03:21:03 PM: Quote from: JohnnyReb on September 10, 2009, 03:19:28 PM
2008 minus 11 years equal....hey, that wasn't under Bush. You can't be posting that because that would mean the Bush economy wasn't the worst ever.

Yeah, this story confuses me. I thought the economy was so great during the Clinton years we wiped are asses with 100 dollar bills.