Trickle-down economics at work...
Hey, at least the wealthiest Americans have a little more in their bank accounts thanks to the Bush tax cuts.- Poverty Rate Rises for Second Year in Row
Fri Sep 26, 7:27 PM ET
By GENARO C. ARMAS, Associated Press Writer
WASHINGTON - Poverty rose for a second straight year in 2002 as 1.7 million more people dropped below the poverty line, according to Census Bureau (news - web sites) estimates released Friday that provided fresh evidence of the struggling economy's effect on Americans' pocketbooks.
The poverty rate was 12.1 percent last year, an increase from 11.7 percent in 2001 even though the last recession ended in November 2001. That meant nearly 34.6 million people were living in poverty.
Before the two years of increase, poverty had fallen for nearly a decade to 11.3 percent in 2000, its lowest level in more than 25 years. (read more)
No comments:
Post a Comment