Posted on 10/04/2015 6:57:24 PM PDT by SeekAndFind
NEW YORK (Thomson Reuters Foundation) - The number of people living in extreme poverty is likely to fall for the first time below 10 percent of the world's population in 2015, the World Bank said on Sunday as it revised its benchmark for measuring the problem.
Extreme poverty has long been defined as living on or below $1.25 a day, but the World Bank's adjustment now sets the poverty line at $1.90 a day.
The Bank said the change reflects new data on differences in the cost of living across countries, while preserving the real purchasing power of the previous yardstick.
Using the new benchmark, the World Bank projects that 702 million people or 9.6 percent of the world's population will be living in extreme poverty in 2015, down from 902 million people or 12.8 percent of the global population in 2012.
The global development lender attributed the continued fall in poverty to strong economic growth rates in emerging markets, particularly India, and investments in education, health, and social safety nets.
"... these projections show us that we are the first generation in human history that can end extreme poverty," World Bank Group President Jim Yong Kim said in a statement.
However, he warned that slower global growth, volatile financial markets, conflicts, high youth unemployment and the impact of climate change were obstacles to meeting a U.N. target to end poverty by 2030, part of a new set of development goals adopted by 193 countries at the United Nations last month.
"But it remains within our grasp, as long as our high aspirations are matched by country-led plans that help the still millions of people living in extreme poverty," Kim added.
(Excerpt) Read more at reuters.com ...
The Left’s solution: make it illegal to be poor.
They need to raise the level to $140.00 per day. That would cast huge numbers into poverty and then a falling poverty rate would not threaten their reason for existence.
I think they all have a SNAP card.
$1.90/day.
Bring that up when someone complains about “poor” who are subsisting on 20x as much.
Or to import them all here.
Well, Obama has a family member that lives on less than that. He has met him and knows him. He could have sent him $100 a month and made him a wealthy man, but he gives nothing of his own money to anyone. Not even his own brother. Had Obama’s Mama been as black as his brothers, he too would be in a mud hut today!
Best thing that happened to Obama is that his drunkard father knocked up that stupid teen aged hippy chick in Hawaii.
Obama and the Dems will not rest until we live as poverty stricken as the rest of the World.
Yep, Socialism is the equal distribution of misery. Except for the ruling elite, of course.
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