09/17/14

Permalink Forty five million in poverty in the US

Andre Damon Forty-five million people are living in poverty in the United States, according to figures released Tuesday by the Census Bureau. The 2013 Income and Poverty in the United States report found that the number of people in poverty remained at a record high last year, while the income of a typical household remained stagnant. According to the Census figures, the median household income in the US has fallen 8 percent since 2007. The continuing prevalence of mass poverty and the stagnation of the incomes of working people are an expression of the fact that the so-called economic “recovery” touted by the Obama administration is a recovery only for the financial elite: corporate profits hit a record in the year covered by the report, while stock values increased by a third that year, fueled by the Federal Reserve’s money printing operations. The White House praised the report, saying that it showed that “key indicators of poverty and family income improved.” In reality, the report is yet another confirmation of the fact that there has been no real improvement in the living conditions of working people.

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