Census shows 1 in 2 people are poor or low-income
Nearly half of Americans are low-income as rising expenses, unemployment shrink middle class
By Hope Yen, Associated Press |
WASHINGTON (AP) -- Squeezed by rising living costs, a record number of Americans â nearly 1 in 2 â have fallen into poverty or are scraping by on earnings that classify them as low income.
The latest census data depict a middle class that's shrinking as unemployment stays high and the government's safety net frays. The new numbers follow years of stagnating wages for the middle class that have hurt millions of workers and families.
"Safety net programs such as food stamps and tax credits kept poverty from rising even higher in 2010, but for many low-income families with work-related and medical expenses, they are considered too 'rich' to qualify," said Sheldon Danziger
Nearly half of Americans are low-income as rising expenses, unemployment shrink middle class
By Hope Yen, Associated Press |
WASHINGTON (AP) -- Squeezed by rising living costs, a record number of Americans â nearly 1 in 2 â have fallen into poverty or are scraping by on earnings that classify them as low income.
The latest census data depict a middle class that's shrinking as unemployment stays high and the government's safety net frays. The new numbers follow years of stagnating wages for the middle class that have hurt millions of workers and families.
"Safety net programs such as food stamps and tax credits kept poverty from rising even higher in 2010, but for many low-income families with work-related and medical expenses, they are considered too 'rich' to qualify," said Sheldon Danziger