Boy, this Obama economy is great isn’t it? There are now fifty million Americans living in poverty. Be sure to thank the voters who thought four more years of this would be a good idea.

As President Barack Obama is set to begin his second term, new statistics on America’s poverty rate indicate that nearly 50 million Americans, more than 16 percent of the population, are struggling to survive.

New figures released by the Census Bureau this week found a spike in poverty numbers last year, going from 49 million in 2010 to 49.7 million last year. The numbers may come as a surprise to Congress, which estimated in September that the poverty rate would drop to 46.2 million. One of the most startling findings showed that almost 20 percent of American children continue to live in poverty.

The Associated Press reports that the new figures are based on an updated formula devised by the Census Bureau to help give the government a better understanding for how to use safety-net programs. (Read More)

Expect the number to rise. The progressives won’t stop until the middle class is destroyed. There will still be a wealthy, elite ruling class, while everyone else is living in poverty – something along the lines of the Hunger Games.