Throughout President Obama‘s current term, nothing has been under more scrutiny than the current state of our economy. As the national debt is at an all time high, and the unemployment rate has suffered as well, there seems to be no light at the end of the tunnel.
Today, though, CNN reports that although our economy needs much improvement, with millions of Americans unable to pay off their college loans and mortgages, the poverty rate has in fact dropped, although median income has dropped as well.
CNN reports:
Median household income fell to $50,054 in 2011, down 1.5% from a year earlier. Income inequality widened, as the highest income echelon experienced a jump in incomes, while those in the middle of the income range saw incomes shrink.
Meanwhile, the national poverty rate hit 15.0% in 2011, down slightly from 15.1% the year before. Some 46.2 million people fell below the poverty line last year. The poverty threshold for a family of four was $23,021.
Most experts were expecting an increase in poverty, but Census officials said an increase in the number of people working full-time helped keep the rate in check.
With the Presidential election less than 60 days away, American citizens have a lot to digest before filling out their ballots.
SOURCE: CNN
