Alternate title: Poverty soars under President Obama’s lack of leadership. Not that he hasn’t tried to lead; he did get his Obamacare, FrankenDodd and stimulus one passed. Not to mention Cash for Clunkers, foreclosure schemes, the automobile bailout and all of his agencies’ regulations. It just turns out none of that worked, it all just made things worse. Now he wants to do more of the same, even though the numbers prove that his policies are leading us in the wrong direction.
The AP reported that according to the Census Bureau, one in six Americans are now living in poverty.
The ranks of America’s poor swelled to almost 1 in 6 people last year, reaching a new high as long-term unemployment left millions of Americans struggling and out of work. The number of uninsured edged up to 49.9 million, the biggest in more than two decades.
The Census Bureau’s annual report released Tuesday offers a snapshot of the economic well-being of U.S. households for 2010, when joblessness hovered above 9 percent for a second year. It comes at a politically sensitive time for President Barack Obama, who has acknowledged in the midst of a re-election fight that the unemployment rate could persist at high levels through next year.
The overall poverty rate climbed to 15.1 percent, or 46.2 million, up from 14.3 percent in 2009. The official poverty level is an annual income of $22,314 for a family of four. (Read More)
The Census report also shows that the number of Americans relying on government for health care continues to rise and 1.5 million people have lost health insurance coverage provided by employers.
If all that isn’t bad enough, the Congressional Budget Office predicted that the unemployment rate will hover around 9% for at least the next year. So expect the poverty numbers to be even worse next year.
That’s some record Obama’s got there. Hope and change, ain’t it swell?
Update: The Pirate’s Cove linked – thanks!
Update 2: The Other McCain linked – thanks!