This is nearly incredible. According to an article posted at Crooks & Liars, 49.7 million Americans are below the poverty line; 80% of the total U.S. population is below or near the poverty line. Last year, food stamps helped 5 million people "barely reach above the poverty line." Poverty rates are 27.8% for Latinos, 25.8% for African-Americans, 16% for Asians, and 10.7% for non-Hispanic whites.
“The primary reason that poverty remains so high,” Sheldon Danziger, a University of Michigan economist said, “is that the benefits of a growing economy are no longer being shared by all workers as they were in the quarter-century following the end of World War II.”
Click here for the post by Susie Madrak at Crooks & Liars entitled Most of the Population Now Needs Government Assistance to Make Ends Meet.
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