Monday, November 21, 2011

100 Million Households Ranked Poor or Near Poor By Census Bureau

The Census Bureau added a new category that it calls the "near poor" in its report on household income. The new category adjust for differences in the cost of living such that it includes incomes up to $25,000 in N.Dakota and up to $51,000 in Silicon Valley. The combination of the near poor and the poor includes 100 million Americans or one third of US households. This is not a good result for the richest country in the history of the world.

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