Revised formula counts more Americans in poverty

AP ^ | September 4, 2009 | HOPE YEN

[Berlin_Freeper]

The poverty rate among older Americans could be nearly twice as high as the traditional 10 percent level, according to a revision of a half-century-old formula for calculating medical costs and geographic variations in the cost of living.

The National Academy of Science's formula, which is gaining credibility with public officials including some in the Obama administration, would put the poverty rate for Americans 65 and over at 18.6 percent, or 6.8 million people, compared with 9.7 percent, or 3.6 million people, under the existing measure. The original government formula, created in 1955, doesn't take account of rising costs of medical care and other factors.

[Slapshot68]

Said it before and I’ll say it again...there are an awful lot of people in poverty who have blackberrys and xboxs.

[mvpel]

So you can go to bed non-impoverished on Sunday, and wake up impoverished on Monday. Gotta love the government.

[Species8472]

Central heat, Televisions, Running water, Flush toilets, Food stamps, Medicaid, SCHIP, AFDC, .........

[Dixie Yooper]

WOW! Hard to believe ACORN has alread finished the Census...

[MNJohnnie]

This from the SAME Administration that decided since there was NO inflation that Soc Security Recipients should get no COLA this year or next.

Just another attempt by the Dear Leader and his cronies to cook the books for propaganda purposes.

[Oldpuppymax]

The new poverty formula counts as “in poverty” anyone who has less money than Charlie Rangle has stolen while in office.

[Slapshot68]

A couple of weeks ago I was behind a young woman with her two kids in line at the grocery store. She didn’t have enough money to pay for her groceries and I did feel bad for her...until she pulled out her blackberry to take a call.