Michael Snyder: Poverty in America!

America is getting poorer: The US government has just released a bunch of new statistics about poverty in America, and once again this year the news is NOT good! According to a special report from the US Census Bureau, 46.2 million Americans are now living in poverty. The number of those living poverty in America has grown by 2.6 million in just the last 12 months, and that is the largest increase that we have ever seen since the US government began calculating poverty figures back in 1959. Not only that, median household income has also fallen once again. In case you are keeping track, that makes three years in a row. According to the US Census Bureau, median household income in the United States dropped 2.3% in 2010, after accounting for inflation. Overall, median household income in the United States has declined by a total of 6.8% once you account for inflation since December 2007. So should we be excited that our incomes are going down, and that a record number of Americans slipped into poverty last year? Should we be thrilled that the economic pie is shrinking, and that our debt levels are exploding? All of those who claimed that the US economy was recovering, and that everything was just fine, like Lucy Ricardo, have some "splainin" to do!