More poor Americans?
That’s a surprise and not a surprise.
Surprise because the American government has announced economic expansion. But the thing is it is also expected to a certain extent — the trickle down did not happen, perhaps, isn’t.
Agence France Presse reported that the the gap between rich and poor in the United States is getting wider, and the number of “extremely impoverished” is at a three-decade high, a report out Saturday found.
Based on the latest available US census data from 2005, the McClatchy Newspapers analysis found that almost 16 million Americans live in “deep or severe poverty” defined as a family of four with two children earning less than $9,903 (Roughly about P500,000 at P49 = $1, which is already a fortune in the Philippines!)i — one half the federal poverty line figure.
For individuals the “deep poverty” threshold in the United States is income under $5,080 (A little more than P200,000 a year).
The report said they found that the number of severely poor Americans grew by 26 percent from 2000 to 2005,” the US newspaper chain reported, which 56 percent faster than the overall poverty population grew in the same period,” it noted.
The report added that the surge in poverty comes alongside an unusual economic expansion.
It just makes me think about the Philippine situation and looking at this western economy as a model..