President Obama has set all kinds of new records since his election: the first (half) black President, the highest federal deficits, the most added to the federal debt, the highest level of federal debt, the most debt held by any country in the history of the world, the length of high unemployment, and the list goes on. Today we add to to the extended list that American poverty rates have just hit a two decade high:
The ranks of America’s poor swelled to almost 1 in 6 people last year, reaching a new high as long-term unemployment left millions of Americans struggling and out of work. The number of uninsured edged up to 49.9 million, the biggest in more than two decades.
The overall poverty rate climbed to 15.1 percent, or 46.2 million, up from 14.3 percent in 2009. The official poverty level is an annual income of $22,314 for a family of four.
Reflecting the lingering impact of the recession, the U.S. poverty rate from 2007-2010 has now risen faster than any three-year period since the early 1980s, when a crippling energy crisis amid government cutbacks contributed to inflation, spiraling interest rates and unemployment.
If you think that is shocking it is important to remember Brittany’s report on the Census Bureau’s definition of American poverty. I’ll give you a hint – it’s not living in a tin shack with one shoe and saggy pants due to malnutrition. Instead it’s living in a fully air conditioned, cable TV equipped, XBox plugged, appliance stocked, in good repair home. I’m sure not a single government welfare handout went towards the purchase of any of those necessities.
Should this poverty report comes up in a speech during Obama’s campaign bus tour he will certainly spin it to help sell his jobs plan. The big problem for him now now is that he has lost so much credibility on the issue after over two years of a yet-to-be-recovering sluggish economy. Sure, some mindless lemmings will believe every word he says like it came straight from God, but when his media-dogs now laugh at him you know it’s bad: