Thursday, September 10, 2009
More Americans Poor, Fewer Insured: Census Bureau
Median household incomes fell by in 2008 by 3.6 percent, to $50,303, the U.S. Census Bureau reports. The poverty rate rose to 13.2 percent, up by 0.7. Some 39.8 million people were classed among the poor last year, up by 2.6 million. The ranks of Americans without health insurance grew to 46.3 million, from 45.7 million -- a small enough increase to leave the percentage unchanged at 15.4 percent. Unpack the rest of the numbers in the Census Bureau's annual report on income, poverty and health insurance, including the news that 31 percent of the population fell into poverty for at least two months at some point between 2004 and 2007.
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During a recession or the precursor to a recession, the economy undergoes a major downfall. With this downfall, many hardships are bestowed among the people exposed to such conditions. These hardships can include unemployment, a lower yearly income, inability to meet daily needs, loss of insurance, etc. The census bureau reports that during this recession more Americans have become poor, and fewer are insured. Also the bureau reports that the number is increasing which means the worse is still to come. However, if we can come back from the Stock Market Crash of 1929, then we surely can recover from the recession which we are currently in. It will take perseverance, a will to overcome fear, and a newfound pride in our country.
ReplyDeleteDuring a recession or any kind of economic slowdown, it stands to reason that median household incomes would fall. Conversely, during a period of economic expansion, median household incomes rise. A portion of the drop in median incomes would be accounted for by working hours cut, as well as a drop in income due to low interest rates. E.g. If one earned 3% on a C/D in 2007 and only 1.5% in 2008, one's income would have dropped by 1.5% on the amount invested in the C/D.
ReplyDeleteThe poverty rate is a highly volatile number. It is widely known that people allegedly at the poverty level, still have cell phones, big screen HDTVs, cable service, computers with internet service, etc. This is in addition to gold jewelry and grillz. In my view someone at the poverty level is barely subsisting and needs help for food and housing. That they choose to spend what money they have on lottery tickets and beer, and PDAs is merely bad decision making
hurting themselves and their familes.
The health insured/uninsured number is also questionable. President Obama, himself had used the 47 million number, until last Wednesday evening when he stated in his address to Congress that it is 30 million. What no one discusses, is that although there are definitely uninsured citizens (as well as illegal aliens), none of them are denied medical care. Any could visit into any emergency room, and be treated, whether it be for a splinter, or a severed leg. This is the excess cost to the American taxpayer that must be remedied.
Dillon Boslow
Period 5
During a recession or the precursor to a recession, the economy undergoes a major downfall. With this downfall, many hardships are bestowed among the people exposed to such conditions. These hardships can include unemployment, a lower yearly income, inability to meet daily needs, loss of insurance, etc. The census bureau reports that during this recession more Americans have become poor, and fewer are insured. Also the bureau reports that the number is increasing which means the worse is still to come. However, if we can come back from the Stock Market Crash of 1929, then we surely can recover from the recession which we are currently in. It will take perseverance, a will to overcome fear, and a newfound pride in our country.
ReplyDeleteDavid Schneider
Period 6
This news is not good but it is also not surprising. In the middle of a recession this should be expected. One of the interesting points that this article brought up was the fact that the rate of uninsured people grew by a small amount. In the midst of a large healthcare debate, the United States should look at these statistics and understand that the quality of Americas healthcare will not get better on its own. We need to take action so that 46.3 million people here will have access to healthcare. As the economy continues to recover, I expect the median household income to begin to rise back to a more normal level.
ReplyDeleteAdam Greenstein
Period 6
After reading this article, the economy obviously is in trouble and suffers in downfall during a recession. These bad times lead to unemployment, poverty, and people left with out insurance. The Census Bureau reports that many Americans do not have enough money to support themselves and that they are falling into the poverty level, which prevents them from being able to purchase health insurance. Many things will have to change in our economy to make it possible for all these hardships to turn around.
ReplyDeleteDuring a recession you are bound to watch statistics like these drop tremendously, but this article puts them all into good perspective for those unaware. i found it interesting however, how the health insurance decrease was so low that the percentage stayed unchanged. it was one statistic that took me by surprise considering the healthcare issues going on in America right now. Now it just makes me wonder how many years will it take for these numbers to get better
ReplyDeleteKate Tanner
period 1
In the midst of this economic breakdown our economy is going through, everybody is making changes to their daily lives. Although for many people these changes may be minor, for some they are drastic. For example, the poverty rate rose to 13.2%, which can only explain how more and more people are losing their jobs. And not only their jobs, but their health insurance also. These statistics seem to only be getting worse, and hopefully soon will turn around and change for the better.
ReplyDelete-Chrissy Reynolds
period 5
Jamie Moskowitz
ReplyDeletePeriod1
With our recession well on its way, Americans are cutting back tremendously and faced with life changing financial decisions. This articles gives an overview of the "numbers" side of this situation, and proves the large damage this economic downfall is placing on millions upon millions of our citizens. Almost 40 million people classified as poor, 46 million without healthcare, and a large percent of people who have endured poverty is a more than clear sign that our country needs major change and help to fish us out of this mess.
Although American's are perceived as wealthy, we too are feeling the effects of the recession. The percentage of people who are now unemployed, stricken by poverty, and uninsured are growing. These statistics put the effects of the recession into perspective. I found it very intriguing that the insurance decrease was low but that the percentage remained unchanged. These stastics will most likely continue to fall until America is able to pick itself up from the effects of this recession.
ReplyDeleteEileen Aber
This article shows the recession in a big picture. It shows how drastically American lives are affected by an economic downturn. Many families are going through a lot of stress because of the increasing rate of unemployment, and find it really hard to make ends meet; losing their health care is just another thing for them to worry about. These statistics prove how badly our country currently needs help.
ReplyDeleteEden Mordechai period 6