I was reading the New York Times during lunch today, and I came upon this little tidbit of an article. I'll snip out some parts so that you don't have to read the whole mess, but if you want to see it in it's entirety, and I recommend reading this article - go to www.nyt.com the article is on the front page.

Number of People Living in Poverty Increases in U.S.
By ROBERT PEAR

WASHINGTON, Sept. 24 — The proportion of Americans living in poverty rose significantly last year, increasing for the first time in eight years, the Census Bureau reported today. At the same time, the bureau said that the income of middle-class households fell for the first time since the last recession ended, in 1991.

The Census Bureau's annual report on income and poverty provided stark evidence that the weakening economy had begun to affect large segments of the population, regardless of race, region or class. Daniel H. Weinberg, chief of income and poverty statistics at the Census Bureau, said the recession that began in March 2001 had reduced the earnings of millions of Americans.

The report also suggested that the gap between rich and poor continued to grow.

All regions except the Northeast experienced a decline in household income, the bureau reported. For blacks, it was the first significant decline in two decades; non-Hispanic whites saw a slight decline. Even the incomes of Asians and Pacific Islanders, a group that achieved high levels of prosperity in the 1990's, went down significantly last year.

Median household income fell to $42,228 in 2001, a decline of $934 or 2.2 percent from the prior year. The number of households with income above the median is the same as the number below it.

A family of four was classified as poor if it had cash income less than $18,104 last year. The official poverty levels, updated each year to reflect changes in the Consumer Price Index, were $14,128 for a family of three, $11,569 for a married couple and $9,039 for an individual.

The bureau's report is likely to provide fodder for the Congressional campaigns. The White House said the increase in poverty resulted, in part, from an economic slowdown that began under President Bill Clinton. But Democrats said the data showed the failure of President Bush's economic policies and his tendency to neglect the economy.

Mr. Bush said today that he remained optimistic. "When you combine the productivity of the American people with low interest rates and low inflation, those are the ingredients for growth," Mr. Bush said.

Commentary: Did you happen to notice those poverty figures? How is anyone supposed to raise a family of three on an income of $15,000 a year? Because at that level, you aren't poor, and you don't get public aid. Let's say that the average rent price (as the National Real Estate Association does) costs you 25% of your income. That would be $375 a month in rent. WHERE does one find an apartment, let alone an apartment for 3 people for that price? There isn't much in that take home pay for food, once you consider utilities, and you can forget disposable income. Yet, this annual salary between two people and it is ABOVE the poverty level.

Point #2. What does "Mr. Bush" know about economics? He is from a rich family, he has rich friends who pitch in and buy him baseball teams when he is in a financial rut, and President of the United States is his first full-time job. His little plan obviously isn't working.

This rare day-time rant brought to you by the beautiful 75 degree day, which is keeping my boss outside, thus giving me access to the internet computer during MY lunch hour.




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