The humanity......../s
Posted on 10/20/2009 12:50:50 PM PDT by Steelfish
Revised Formula Puts 1 in 6 Americans in Poverty
Hope Yen, Associated Press Writer – Oct 20
WASHINGTON – The level of poverty in America is even worse than first believed.
A revised formula for calculating medical costs and geographic variations show that approximately 47.4 million Americans last year lived in poverty, 7 million more than the government's official figure.
The disparity occurs because of differing formulas the Census Bureau and the National Academy of Science use for calculating the poverty rate. The NAS formula shows the poverty rate to be at 15.8 percent, or nearly 1 in 6 Americans, according to calculations released this week. That's higher than the 13.2 percent, or 39.8 million, figure made available recently under the original government formula.
That measure, created in 1955, does not factor in rising medical care, transportation, child care or geographical variations in living costs. Nor does it consider non-cash government aid when calculating income. As a result, official figures released last month by Census may have overlooked millions of poor people, many of them 65 and older.
According to the revised NAS formula:
_About 18.7 percent of Americans 65 and older, or nearly 7.1 million, are in poverty compared to 9.7 percent, or 3.7 million, under the traditional measure. That's due to out-of-pocket expenses from rising Medicare premiums, deductibles and a coverage gap in the prescription drug benefit.
_About 14.3 percent of people 18 to 64, or 27 million, are in poverty, compared to 11.7 percent under the traditional measure. Many of the additional poor are low-income, working people with transportation and child-care costs.
(Excerpt) Read more at news.yahoo.com ...
Baloney. Few, if any, who are not on drugs or the like (or children of those who are) in America: (1) don’t have a roof of some kind; (2) go to bed hungry; and (3) aren’t clothed.
Indeed, most of those “in poverty” have a color TV and a cell phone.
Sorry, sell this somewhere else.
The humanity......../s
If the Dims and Maobama have their way, we’ll all be under the poverty line.
well...maybe they should move somewhere else then!!!
That’s ok...when obama’s and his wrecking crew are done we’ll all be in poverty living on a government check. That’s their plan anyway.
i can throw figures around too. by my definition, the poverty line is anything below $100,000 so i think over 80% of americans are livng in poverty.
I would suggest as a more arbitrary poverty line anything below the amount that Franklin Delano Raines received golden parachuting from the looted Fannie Mae. That way America will look to suck even more.
I couldn’t agree with you more, as Mark Steyn noted, the US is the only country in history with obese poor people.
Your tagline is funny - I like it!!!
Three more years of sharing the wealth, we will all be poor.
Yea I see all the FAT poor people around.
Very good. In our local county court at law, some defendants will ask for a court appointed lawyer because they are "indigent", so the clerk has them fill out the application the judge will ask if they have a cell phone and if they answer yes, NO court appointed attorney.
He says that life is a matter of priorities, if the defendant can afford cell phones (many have Blackberry or equivalent) they'll have to readjust priorities and procure their own attorney.
0bama’s fault. BTT.
Insert photo of Bangladesh here:
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