The Census Bureau came out with its 2009 numbers on poverty. In their research, 14.3 percent Americans are in poverty. The number increased from 13.2 percent from 2008. This is the largest amount of Americans below the poverty line since 1959. The biggest increase came in a racial demographic Hispanic population. This is not good for America.
Two reasons this is not good for America. Even though businesses are recovering, American citizens are not feeling the recovery yet. Second the increase of Hispanics into poverty. I will dissect these two groups in the following paragraph.
American businesses are recovering the stock market has rebounded from its low of 7,029 points in January of 2009 and has increased 3500 points now in September of 2010. Most businesses have recovered and most of the TARP money has been paid back to US Government. Our financial sector is slowly recovering, and now the biggest problem for the American economy is that the working class has not recovered. These numbers show that the working class has not recovered like businesses. Granted most small businesses are not in shape to survive another collapse, but its important to realize if businesses are going to survive the standard of living of Americans needs to improve.
The second reason the increase of Hispanics into poverty is also troubling. It is known that the Hispanic population is the largest growing population in the United States. The increase of Hispanics into the US population, but their inability to get into the middle class will affect America. With the largest growing group having the most difficultly becoming middle class, the need to help this group is very important. Now how to help this group is the more complex problem that needs to be solved. I will tackle this in a later post.
It is important overall to realize that to solve our problems we need to work together.
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