Wednesday, July 25, 2012

American Poverty: After trillions spent on the war on poverty is it time for trillions more

Lyndon Baines Johnson is the father of the American welfare system.  His Great Society program, which has led to 10's of trillions spent to fight poverty in America, has finally reached its tipping point as new data from July 24 shows that percentage wise, more people are now living in poverty since the 1960's when the great program was implemented.

As world leaders finally begin to admit that we are smack dab in the middle of another Great Depression and the economy stands at the cusp of another earth-shaking collapse of the financial system, the US census reports that nearly 100 million Americans are now classified as living in poverty or are considered “near poor.”
That’s nearly 1/3 of our populace who are living in the worst economic conditions in nearly fifty years.

We haven’t seen these highs since the mid ’60s. That survey indicates the poverty level has grown from 15.1% to as high as 15.7% [since 2010], and it’s spreading at record levels to many socio-economic groups from unemployed workers, suburban families, to the poorest poor.

…More discouraged workers are giving up on the job market and unemployment aid is running out. They found that the suburbs are seeing an increase in poverty…

 Those experts surveyed also predict poverty will remain above the pre-recession level of 12.5% for many more years. -
With deteriorating currencies, and a potential drive to deflation on the horizon for Americans, all that one can say is, the worst laid plans of mice and bleeding heart politicians.