Poverty Rate Rises to 12.7 Percent

"LET THEM EAT CAKE!" & "DEATH TO THE MIDDLE CLASS! DEATH TO THE MIDDLE CLASS! DEATH TO THE MIDDLE CLASS! " -- Chanting coming from the White House

http://news.yahoo.com/s/ap/20050830/ap_on_go_ca_st_pe/census_poverty

Poverty Rate Rises to 12.7 Percent
By JENNIFER C. KERR, Associated Press Writer
13 minutes ago

WASHINGTON - The nation's poverty rate rose to 12.7 percent of the population last year, the fourth consecutive annual increase, the Census Bureau said Tuesday. The percentage of people without health insurance did not change. Overall, there were 37 million people living in poverty, up 1.1 million people from 2003.

Asians were the only ethnic group to show a decline in poverty — from 11.8 percent in 2003 to 9.8 percent last year. The poverty rate among the elderly declined as well, from 10.2 percent in 2003 to 9.8 percent last year. The last decline in overall poverty was in 2000, when 31.1 million people lived under the threshold — 11.3 percent of the population. Since then, the poverty rate has increased steadily from 11.7 percent in 2001, when the economy slipped into recession, to 12.5 percent in 2003.

The number of people without health insurance grew from 45 million to 45.8 million. At the same time, the number of people with health insurance coverage grew by 2 million last year. Charles Nelson, an assistant division chief at the Census Bureau, said the percentage of uninsured remained steady because of an "increase in government coverage, notably Medicaid and the state children's health insurance program, that offset a decline in employment-based coverage."

The median household income, meanwhile, stood at $44,389, unchanged from 2003. Among racial and ethnic groups blacks had the lowest median income and Asians the highest. Median income refers to the point at which half of households earn more and half earn less. Regionally, income declined only in the Midwest, down 2.8 percent to $44,657. The South was the poorest region and the Northeast and the West had the highest median incomes. The increase in poverty came despite strong economic growth, which helped create 2.2 million jobs last year.

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