We interrupt yesterday, today and tomorrow's media soccer scrum ("Does Ellen DeGeneres Think Michael Vick Should Agree With Joe Wilson About Health Care?") to bring you the consequences of a Gilded Age economy:My dear fellow Americans: if you ever vote a Con into the Oval Office again, you'd best be prepared for the consequences. You'd better hope there's still room under the overpass for you when you've pissed your prosperity away.The U.S. Census Bureau has just announced that the poverty rate for 2008 was 13.2%. This means the number of people in poverty has increased by about 2.5 million, to 39.8 million. To give you some perspective, 2.5 million is more than the number of people who live in Detroit and San Francisco combined.The Census data is just devastating, particularly when you take into account that the numbers come before the job loss in the first 8 months of this year. In addition to the uptick in the poverty rate, real median household income fell 3.6%, the biggest drop in 40 years. The richest tenth of one percent saw their incomes rise by 35% over the last 10 years while median incomes stayed flat. And the number of Americans lacking health insurance increased by about 700,000 to at least 46.3 million, which does not account for the under-insured. In fact, if it wasn't for government programs, this number would be far worse.
11 September, 2009
Don't Say W Never Gave Us Anything
He gave us a fuck of a lot more poor people: