Poorest Poor In US Hits New Record

[G_j]

http://www.commondreams.org/headline/2011/11/03-0

Published on Thursday, November 3, 2011 by the Associated Press

Poorest Poor In US Hits New Record

WASHINGTON — The ranks of America's poorest poor have climbed to a record high — 1 in 15 people — spread widely across metropolitan areas as the housing bust pushed many inner-city poor into suburbs and other outlying places and shriveled jobs and income.

New census data paint a stark portrait of the nation's haves and have-nots at a time when unemployment remains persistently high. It comes a week before the government releases first-ever economic data that will show more Hispanics, elderly and working-age poor have fallen into poverty.

In all, the numbers underscore the breadth and scope by which the downturn has reached further into mainstream America.

"There now really is no unaffected group, except maybe the very top income earners," said Robert Moffitt, a professor of economics at Johns Hopkins University. "Recessions are supposed to be temporary, and when it's over, everything returns to where it was before. But the worry now is that the downturn — which will end eventually — will have long-lasting effects on families who lose jobs, become worse off and can't recover."

..more..


also in LBN:
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x5047047

[Ship of Fools]

1. Why do these *studies* state the obvious ALL THE EFFIN TIME?

"But the worry now is that the downturn — which will end eventually — will have long-lasting effects on families who lose jobs, become worse off and can't recover."

YA THINK???

They'll probably bandy this about for a while, then conclude that the study should be extended for eight more years ...