cj — I am happy to say that I can and do make good choices in life, including where I am domiciled. The unemployment rate in my home country now stands at 3%. So what is the problem with America? 🙂
The median income of American households dropped by $2,627 during President Barack Obama’s first term — and the number of people in poverty rose by about 6,667,000, according to a new report from the Census Bureau.
Some 46,496,000 Americans are now in poverty, the highest number ever and a 16.73 percent increase from 2008 when Obama took office.
Overall, 15 percent of Americans are considered to be living in poverty, up from 13.2 percent in 2008.
But the figures are much higher for blacks and Hispanics — 27 percent of blacks and 25.6 percent of Hispanics are living in poverty. The rate for non-Hispanic whites is 9.7 percent.
More than one-fifth of all Americans under age 18 — 21.8 percent — are in poverty, as are 9.1 percent of those 65 and older.
A single individual earning less than $11,270 last year was considered to be in poverty. For two-person households, the threshold is $14,937; for three-person households, $18,284; for a family of four, $23,492.
Last year, the real median household income in America was $51,017, a 4.89 percent drop from 2008. Median income dropped in every year of Obama’s first term.
For black households, median income last year was $33,321, according to the report “Income, Poverty and Health Insurance Coverage in the United States,” released on Tuesday.
The income and poverty estimates shown in the report are based solely on money income before taxes and do not include the value of noncash benefits, such as those provided by the Supplemental Nutrition Assistance Program, Medicare, Medicaid, public housing, or employer-provided fringe benefits.