Tyler Durden
The US Census Bureau has released its annual Income (not so much), Poverty (much) and Health Insurance Coverage report for 2010. The full thing is below but the highlights are as follows: i) Real median household income in the United States in 2010 was $49,445, a 2.3 percent decline from the 2009 median. ii) The nation's official poverty rate in 2010 was 15.1 percent, up from 14.3 percent in 2009 ? the third consecutive annual increase in the poverty rate. There were 46.2 million people in poverty in 2010, up from 43.6 million in 2009 ? the fourth consecutive annual increase and the largest number in the 52 years for which poverty estimates have been published; and iii) The number of people without health insurance coverage rose from 49.0 million in 2009 to 49.9 million in 2010, while the percentage without coverage ?16.3 percent - was not statistically different from the rate in 2009.
Since 2010 represents the first full calendar year after the recession that ended in June 2009, one can compare changes in income, poverty and health insurance coverage between 2009 and 2010 with changes during the first year after the end of other recessions: Median household income declined the first full year following the December 2007 to June 2009 recession, as well as in the first full year following three other recessions (March 2001 to November 2001, January 1980 to July 1980 and December 1969 to November 1970). The poverty rate and the number of people in poverty increased in the first calendar year following the end of the last three recessions. For the recessions that ended in 1961 and 1975, the poverty rate decreased in the next full calendar year. After the most recent recession, there was no significant difference in the uninsured rate during the first full year after the recession. However, in the year following the recessions that ended in 1991 and 2001, the uninsured rate increased.
Since 2010 represents the first full calendar year after the recession that ended in June 2009, one can compare changes in income, poverty and health insurance coverage between 2009 and 2010 with changes during the first year after the end of other recessions: Median household income declined the first full year following the December 2007 to June 2009 recession, as well as in the first full year following three other recessions (March 2001 to November 2001, January 1980 to July 1980 and December 1969 to November 1970). The poverty rate and the number of people in poverty increased in the first calendar year following the end of the last three recessions. For the recessions that ended in 1961 and 1975, the poverty rate decreased in the next full calendar year. After the most recent recession, there was no significant difference in the uninsured rate during the first full year after the recession. However, in the year following the recessions that ended in 1991 and 2001, the uninsured rate increased.
Poverty my ass. How many of them have cell phones, big screens, cars and smoke? Living in a dirt floor huts fingering through dung heaps for undigested corn is poverty.
ReplyDeleteEmbrace the Hope & Change. Welcome to the reservation, we are all Indians now.
It is not called empire decline but rather empire collapse in slow motion.
ReplyDeleteClearly what's needed here is massive tax cuts for the rich. Helping the poor is unAmerican!
ReplyDelete/s
Obama's Trickle Up Poverty Plan is WORKING!
ReplyDelete