President Barack Obama (left) and members of his administration
The Judiciary Report stated years ago that poverty would become widespread in America, if the government was unsuccessful in stamping out the corruption in the economy that would eventually lead to a financial crisis, which happened one year after that item was published to the website ("Where this is headed...What is forming is a similar situation to what happened in India, respectfully, with a small group of rich and a large group of poor." - September 27. 2007).
This week, major news outlets are reporting, poverty has reached an all time high in America. Many Americans have hit poverty at a record pace. This was preventable and those in government and the corporate sector responsible for bringing the nation to this terrible juncture, should be punished with prison and massive fines.
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STORY SOURCE
`The new poor': Poverty reaches historic levels
Posted on Thursday, 09.16.10 - The number of people living in poverty has increased to record levels, with Florida hit especially hard by recession. The withering recession pushed the number of Americans who are living in poverty to a 51-year high in 2009 and left a record 50.7 million people without health insurance, the Census Bureau said Thursday.
The 43.6 million Americans who were poor last year -- up from 39.8 million the year before -- were the most since poverty estimates were first published in 1959. The national poverty rate of 14.3 percent, up from 13.2 percent in 2008, was the highest since 1994.
The bureau also found that median income -- the amount at which half of U.S. households earn more or less -- had fallen 4.2 percent by 2009 since the recession began in 2007. In Florida, the numbers were just as bad. Preliminary state figures show Florida's poverty rate increased from 12 percent in 2007 to 13.9 percent in 2009.
By comparison, from 1999 to 2007, Florida's poverty rate only inched up .3 percent. ``It is huge,'' said Mike Leachman, a senior policy analyst for the Center on Budget and Policy Priorities, a research institute. ``We are talking about a leap of about another 360,000 Floridians falling into poverty.''...
