Center for Economic Policy and Research co-Director and GRITtv economic correspondent Dean Baker on the 14.3% poverty level. Baker points out, "Poverty is a one-day event, we get a report released and we're going to talk about poverty, but every day we hear what the stock market does."
The poverty numbers released today by the US Census Bureau
were, to quote a colleague, heart-breaking. While the big number being
talked about today is that one in seven Americans is now below the
poverty level, that doesn’t tell the whole story.
If you look deeper at the data, the story of who’s hit first and worst is clear. The lowlights:
More than one in four blacks, Latinos, and non-citizens is below the poverty line
Biggest drop in real income was among blacks and non-citizens (4.4% and 4.5% drop, respectively)
Hispanics and non-citizens saw the biggest jump in poverty (2.1 % and 1.8%, respectively)