U.S. poverty rises to 15.1% – highest since 1983

The new U.S. Census Bureau report, summarized here, shows that the U.S. poverty rate has risen to 15.1%, the highest since 1983. About 46.2 million people, or nearly one in six, were in poverty, compared with 43.6 million, or 14.3%, in 2009. And inflation-adjusted median household income in the U.S. fell 2.3% in 2010 from a year ago, to $49,445. Middle income households are somewhat worse off even than this, as reported earlier, because increases in healthcare expenses have wiped out virtually all nominal gains.

Addendum: The Census Bureau does not take into account “in kind” or noncash transfers like Medicaid or Food Stamps. So the poverty news is slight less grim than first appeared.

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About Guy N. Texas

Guy N. Texas is the pen name of a lawyer living in Dallas, who is now a liberal. He was once conservative, but this word has so morphed in meaning that he can no longer call himself that in good conscience. Guy has no political aspirations. He speaks only for himself.
This entry was posted in Economic policy, Economics, Income inequality, News. Bookmark the permalink.

One Response to U.S. poverty rises to 15.1% – highest since 1983

  1. hortonw says:

    Aren’t health care costs included in inflation? Not sure how health care costs can make the median family worse off than their inflation-adjusted figure would suggest. It’s a problem on the low end of the income spectrum because they disproportionately consume health care as a % of income, so their effective inflation rate is higher than the national average.

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