Nearly 1 in 6 Americans Lives In Poverty

"The level of poverty in America is even worse than first believed," the AP reports. The National Academy of Science finds that "approximately 47.4 million Americans last year lived in poverty, 7 million more than the government's official figure." The new calculations put the poverty rate at 15.8 percent, or nearly one in six Americans.

Exceedingly shocking that the number is this high. But I can't say that I'm surprised about the economic disaster which is still unfolding. Like quite a few others, I saw this coming as far back as '04.

The Bush administration ran two wars off of a credit card, allowed war profiteering like no one has ever seen, gutted the SEC and other financial regulatory agencies; all aided by a republican congress dating back to 1994. Hedge funds and the derivative market have never been regulated, thanks to Phil Graham and company in 1998 when they refused all reasoned demand to regulate these these outlaw funds and economic tactics designed, it seems, to rob from the middle class and give to the wealthy. I won't even say what this has done to the poor.


IN ACCORDANCE WITH TITLE 17 U.S.C. SECTION 107, THIS MATERIAL IS DISTRIBUTED WITHOUT PROFIT TO THOSE WHO HAVE EXPRESSED A PRIOR INTEREST IN RECEIVING THE INCLUDED INFORMATION FOR RESEARCH AND EDUCATIONAL PURPOSES. PELICAN BLOGS HAS NO AFFILIATION WHATSOEVER WITH THE ORIGINATOR OF THIS ARTICLE NOR ARE PELICAN BLOGS ENDORSED OR SPONSORED BY THE ORIGINATOR.


"VIEW SOURCE ARTICLE" LINKS ARE PROVIDED AS A CONVENIENCE TO OUR READERS AND ALLOW FOR VERIFICATION OF AUTHENTICITY. HOWEVER, AS ORIGINATING PAGES ARE OFTEN UPDATED BY THEIR ORIGINATING HOST SITES, THE VERSIONS POSTED ON THIS BLOG MAY NOT MATCH THE VERSIONS OUR READERS VIEW WHEN CLICKING THE "VIEW SOURCE ARTICLE" LINKS.

Let The Sun Shine In......