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Report: In U.S., record numbers are plunged into poverty

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posted on Feb, 25 2007 @ 09:28 PM

posted on Feb, 25 2007 @ 09:36 PM
While I am certainly no expert on this subject I have been seeing more reports being written about the economic state of the US and the fall of the dollar I don't find it surprising.
From your link

WASHINGTON (AFP) — The gulf between rich and poor in the United States is yawning wider than ever, and the number of extremely impoverished is at a three-decade high, a report out Saturday found.

Based on the latest available U.S. census data from 2005, the McClatchy Newspapers analysis found that almost 16 million Americans live in "deep or severe poverty" defined as a family of four with two children earning less than 9,903 dollars — one half the federal poverty line figure.

For individuals the "deep poverty" threshold was an income under 5,080 dollars a year.

"The McClatchy analysis found that the number of severely poor Americans grew by 26% from 2000 to 2005," the U.S. newspaper chain reported.

"That's 56% faster than the overall poverty population grew in the same period," it noted.

The surge in poverty comes alongside an unusual economic


posted on Feb, 25 2007 @ 09:50 PM
I guess there will be an increase too, when the ARM's (Adjustable Rate Mortgages) reset this year and next year. Along with the change in bankruptcy laws - tough times ahead.

The falling dollar will push up inflation. Usury is a bad thing.


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