America Increasingly Looks Like A Developing Nation As 30% Of Americans Rapidly Approach Poverty, Or Are Already There

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Vincent Fernando
The Money Game
January 26, 2010

[efoods]A shocking report from Brookings exposes just how massive America’s poverty problem is. While substantial reductions in poverty were made during the 1990′s, America’s poor have been rocked by the dual economic downturns since 2000.

The result is that poverty grew at twice the rate of U.S. population growth from 2000 – 2008, and now encompasses 39.1 million Americans.

If one were to expand the definition of poverty to merely ‘poor’ (yet still very poor), then a eye-popping 30% of the nation lives no higher than twice the poverty base line.

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This article was posted: Tuesday, January 26, 2010 at 10:04 am







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