The latest report on poverty from the US Census Bureau was released in September of 2019. It showed the official poverty rate (which doesn’t change significantly from year to year) in 2018 was 11.8%, a decrease of 0.5 percentage points from 2017. This marked the fourth consecutive annual decline in the national poverty rate. In 2018, for the first time in 11 years, the official poverty rate was significantly lower than 2007, the year before the most recent recession. The number of people in poverty in 2018 was 38.1 million, 1.4 million fewer people than 2017.
Just how poor are the poor? Today’s read is from Walter Williams, professor of economics at George Mason University. Here’s the obligatory tease followed by the full column:
Imagine that you are an unborn spirit in heaven. God condemns you to a life of poverty but will permit you to choose the country in which you will spend your life. Which country would you choose? I would choose the United States of America. A recent study …concludes that if the U.S. “poor” were a nation, then it would be one of the world’s richest.