When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Wednesday, September 14, 2011

From Bad to Worse: the Impoverishment of the United States of America

Register A Domain Name with Network Solutions®!  
Number of poor hit record 46 million in 2010 | ReutersThe number of Americans living below the poverty line rose to a record 46 million last year, . . .The number of poor Americans in 2010 was the largest in the 52 years that the Census Bureau has been publishing poverty estimates, the report said, while the poverty rate was the highest since 1993.

This isn’t good news. We knew about the jobless—now this—despite extensions of unemployment benefits and “stimulus” in the billions.  Of course, we know the objectives of government action have mainly been to create and sustain “government jobs” at federal, state, and local levels, and bail out “Wall Street” (to hell with Main Street). At this rate, apparently, Washington is determined that average Americans go on some public payroll or become another government “entitlement” statistic. Then what?

Who’s to blame? Both Democrats and Republicans can take the honors--
The United States has long had one of the highest poverty rates in the developed world. Among 34 countries tracked by the Paris-based Organization for Economic Cooperation and Development, only Chile, Israel and Mexico have higher rates of poverty. http://www.reuters.com/article/2011/09/13/us-usa-economy-poverty-idUSTRE78C3YV20110913

The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects