US Poverty on Track to Rise to Highest Since 1960s

“Fritz says she grew up wealthy in the Denver suburb of Highlands Ranch, but fortunes turned after her parents lost a significant amount of money in the housing bust. Stuck in a half-million dollar house, her parents began living off food stamps and Fritz’s college money evaporated.”

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US poverty on track to rise to highest since 1960s

WASHINGTON (AP) — The ranks of America’s poor are on track to climb to levels unseen in nearly half a century, erasing gains from the war on poverty in the 1960s amid a weak economy and fraying government safety net.

Census figures for 2011 will be released this fall in the critical weeks ahead of the November elections.

The Associated Press surveyed more than a dozen economists, think tanks and academics, both nonpartisan and those with known liberal or conservative leanings, and found a broad consensus: The official poverty rate will rise from 15.1 percent in 2010, climbing as high as 15.7 percent. Several predicted a more modest gain, but even a 0.1 percentage point increase would put poverty at the highest since 1965.

Poverty is spreading at record levels across many groups, from underemployed workers and suburban families to the poorest poor. More discouraged workers are giving up on the job market, leaving them vulnerable as unemployment aid begins to run out. Suburbs are seeing increases in poverty, including in such political battlegrounds as Colorado, Florida and Nevada, where voters are coping with a new norm of living hand to mouth.

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Comments
6 Responses to “US Poverty on Track to Rise to Highest Since 1960s”
  1. Bobbi Swann says:

    I’ve lived in Flori-duh for going on 33 years now. The economy here is devastated despite what the news media is saying. My own income level has dropped down to near the poverty level wherein I once was in the above middle class but I am a survivor…working 3 part time jobs. I’ve witnessed every sort of fraud, deception, deceit – seen friends, family & acquaintences falling into a pit of depression. However, for the most part, there is this ‘veil’ that they hide behind like everything is fine & dandy and stupidity is RAMPANT. Our courts, our government and our representatives are all corrupt here….senseless. I’m also a believer and a warrior and there will be justice. Jesus is coming and he’s coming soon!

  2. Anynomous says:

    It can go so fast. Pay cut and job loss and we went from 80000 to 23000. One or two thousand dollars above poverty.
    It feels incredibly unreal. Waiting tables with a Masters Degree. Placing groceries in my old Prada bag and paying them with food stamps. Paying the mortgage with live savings. Looking at vacationers wondering how in the world people can still do vacations? Haircuts? Kids taking part in a sport??? We sneak into hotel pools for family fun. But we don’t really feel poor yet – I know we will, if we loose our home.

  3. Sarah says:

    We must break up TBTF. Our Government seems to be completely incapable of doing anything about unemployment, worsening economic inequality, and continuing financial instability. TBTF is feeding like parasites while people lose all.

  4. Rob Harrington says:

    Democrats and republicans are equally to blame. They are both guilty of ruining our country.

  5. Pamela Edwards says:

    Poverty is the new norm or so it seems.

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