The US Census Bureau announced today that the number of Americans living in poverty has continued to climb while household median income has dropped. According to the report, 46.2 million Americans now live below the poverty line. The federal government defines poverty as income below $22, 113 for a family of four. This is the third consecutive year that the number has risen, and it reflects the continuing stagnation of the US economy.
Median income also fell, signaling an economic deterioration for middle class Americans. Particularly hard hit are twenty-somethings, many of whom are returning home because they cannot find work. There has been a 25% increase in the poverty rate for Americans aged 25 to 34. Also hard hit are male, full time workers who have seen their income stagnate in real terms since the 1970s. This is especially true for men without college degrees.
Making matters worse, a report released by Senator Bernie Sanders (I-VT) today makes a number of connections between poverty and decreased life expectancy. The report notes, “children born in certain parts of the United States of America can expect to live shorter lives that their parents’ generation.” Sanders chaired a hearing about the issue in the Senate Subcommittee on Primary Health & Aging this morning to highlight the issue.
The reports come at a time when Congress is gearing up for a fight over President Obama’s jobs bill. Hearings are expected to begin once the Congressional Budget Office releases its analysis of the bill.
Image via Wikipedia.
