2015: 1 in 5 US children live below poverty line, more than during Great Recession

Around 22 percent of American children lived below the federal poverty line in 2013, up from 18 percent in 2008, according to a new report. Black, Hispanic, and American Indian children were twice as likely to live in poverty as whites. The 2015 Kids Count Data Book ‒ released Tuesday by the non-profit group Annie E. Casey Foundation ‒ was compiled using federal government data collected from 2008 to 2013 to determine state-based trends pertaining to 16 factors related to quality of life for young children. Those factors include health, family life, community, and education. The 16.1 million children living in poverty in 2013 counts for nearly 3 million more than those living in poverty in 2008, the beginning of the Great Recession. More than two million more children live in areas of concentrated poverty compared to 2006 to 2010, the report found. The federal poverty line in 2013 […] Read More

2014: 14 Facts That Show The Number Of Children Living In Poverty This Christmas Is At A Record High

Submitted by Michael Snyder of The Economic Collapse blog, Did you know that 65 percent of all children in the United States live in a home that receives aid from the federal government?  We live at a time when child poverty in America is exploding.  Yes, the U.S. economy is experiencing a temporary bubble of false stability for the moment, but even during this period of false stability the gap between the wealthy and the poor continues to rapidly expand and the middle class is being systematically destroyed.  And sadly, this is having a disproportionate impact on children.  This is happening for a couple of reasons.  First of all, poorer households tend to have more children than wealthier households.  Secondly, most people tend to have children when they are in their young adult years, and right now young adults are being absolutely hammered by this economy.  As a result, […] Read More

2014: The Market Is Not The Economy And The Winner-Takes-All Society

You hear that old saw that “the market is not the economy,” a lot these days, and for good reason. As ConvergEx’s Nick Colas notes, the S&P 500 breaks to record highs – but U.S. labor markets remain sluggish; investor portfolios do well – but over 47 million Americans (more than 15% of the population) are still in U.S. food stamp program – the same as August 2012. The important question now is: “Is the market TOO different from the economy?” Record corporate profits – the reason for all-time highs in U.S. equities – come with little hiring or wage gains.  The hottest growth stories are business models with lots of customers but very few employees. The recently purchased WhatsApp – for $19 billion – has 55 employees. Investment payoffs – and increasingly social outcomes as well – are technology-enabled, asymmetric and sporadic. How soon before we reach a […] Read More

2013: DHS Battens Down The Hatches: “This Could Be All Hell Breaks Loose Day”

By Mac Slavo SHTF plan A few weeks ago we saw what happens when the Electronic Benefit Transfer system is threatened in any way. When access to food stamps went offline for just a few hours, the masses began to panic in what were essentially isolated hot spots where law & order totally broke down. This Friday, because of guidelines set forth in the American and Recovery Investment Act, the 48 million Americans receiving nutritional food assistance from the government are going to see cuts to their monthly distributions. According to the USDA, the average monthly food benefit for an American family is about $272. Come November 1st, that will be reduced by $36 – or about 13%. Now, that may not seem like a big number, until you consider that the people depending on these distributions are already struggling to put food on the table and keep a roof over their […] Read More

2012: Six Million in the US With no Income but Food Stamps

Some six million Americans—one in 50 people in the US—are living on no income other than $100 or $200 a month in food stamps, according to an analysis of state data by the New York Times. The number of people who reported that they are unemployed and receive no cash aid—neither welfare, nor unemployment insurance, pension benefits, child support or disability pay—the newspaper reported, has jumped by 50 percent over the last two years, as the recession has taken hold. According to the January 3 article, the number of people reporting no income tripled in Nevada over the past two years, doubled in Florida and New York, and increased nearly 90 percent in Minnesota and Utah. In Wayne County, Michigan—which includes Detroit, where half the population is unemployed or underemployed—one out of every 25 residents reports an income of only food stamps. In Yakima County, Washington, the figure is […] Read More