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Poverty rate for children highest level in 10 years....
On the brighter side...Oil companies,Halliburton, and Defense contractors are having a banner year....
http://money.cnn.com/2004/08/26/news/economy/poverty_survey/index.htm?cnn=yes
Survey: More Americans in poverty
Census Bureau report says 1.3 million slipped below benchmark; health care coverage also declines.
August 26, 2004: 11:04 AM EDT
WASHINGTON (CNN) - The number of Americans living in poverty jumped by 1.3 million last year as household incomes held steady, the Census Bureau said Wednesday.
The percentage of the U.S. population living in poverty rose to 12.5 percent from 12.1 percent -- as the poverty rate among children jumped to its highest level in 10 years. The rate for adults 18-to-64 and 65 and older remained steady.
The bureau also said that the share of aggregate income for the lowest 20 percent of Americans fell to 3.4 percent from 3.5 percent.
The report indicated that children and blacks were worse off than most, Reuters reported, noting the report would almost certainly fuel Democratic criticism of President Bush.
The number of poor rose to 35.9 million, up 1.3 million from 2002.
Health care coverage also dropped last year and incomes were essentially stagnant, the Census Bureau said in its annual poverty report, seen by some as the most important score card on the nation's economy and Bush's first term in office.
The number of uninsured people rose to 45 million from 43.6 million in 2002, the bureau said.
According to the data, more people were covered by Medicare and Medicaid in 2003 than in 2002, while the percentage and number of people covered by their employers fell from 61.3 percent -- 175.3 million people -- to 60.4 percent -- 174 million people.
Medicaid, the federal health insurance program for the poor, saw an increase in people covered to 35.6 million from 33.2 million while those covered by Medicare, the federal health program for the elderly, rose to 39.5 million from 38.4 million people.
On the brighter side...Oil companies,Halliburton, and Defense contractors are having a banner year....
http://money.cnn.com/2004/08/26/news/economy/poverty_survey/index.htm?cnn=yes
Survey: More Americans in poverty
Census Bureau report says 1.3 million slipped below benchmark; health care coverage also declines.
August 26, 2004: 11:04 AM EDT
WASHINGTON (CNN) - The number of Americans living in poverty jumped by 1.3 million last year as household incomes held steady, the Census Bureau said Wednesday.
The percentage of the U.S. population living in poverty rose to 12.5 percent from 12.1 percent -- as the poverty rate among children jumped to its highest level in 10 years. The rate for adults 18-to-64 and 65 and older remained steady.
The bureau also said that the share of aggregate income for the lowest 20 percent of Americans fell to 3.4 percent from 3.5 percent.
The report indicated that children and blacks were worse off than most, Reuters reported, noting the report would almost certainly fuel Democratic criticism of President Bush.
The number of poor rose to 35.9 million, up 1.3 million from 2002.
Health care coverage also dropped last year and incomes were essentially stagnant, the Census Bureau said in its annual poverty report, seen by some as the most important score card on the nation's economy and Bush's first term in office.
The number of uninsured people rose to 45 million from 43.6 million in 2002, the bureau said.
According to the data, more people were covered by Medicare and Medicaid in 2003 than in 2002, while the percentage and number of people covered by their employers fell from 61.3 percent -- 175.3 million people -- to 60.4 percent -- 174 million people.
Medicaid, the federal health insurance program for the poor, saw an increase in people covered to 35.6 million from 33.2 million while those covered by Medicare, the federal health program for the elderly, rose to 39.5 million from 38.4 million people.
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