Record 46.7 Million Americans Live In Poverty; Household Income Back To 1989 Levels

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According to the just released Census Bureau annual report on Income and Poverty, in 2014 the official poverty rate was 14.8% as a result of a record 46.7 million Americans living in poverty. This is the fifth consecutive year since the end of the recession that the number of impoverished Americans has barely not budged. What recovery?…

The people living in extreme poverty, i.e. below 50% of the poverty minimum, also rose to an all time high of 20.8 million. Continue reading