It’s an Obama world.
Poverty in the suburbs has grown at twice the rate of that in the inner city.
Since 2009 pay has gone up 6.2% but consumer prices have increased 7.2%.
CNBC reported, via Free Republic:
The number of suburban residents living in poverty rose by nearly 64 percent between 2000 and 2011, to about 16.4 million people, according to a Brookings Institution analysis of 95 of the nation’s largest metropolitan areas. That’s more than double the rate of growth for urban poverty in those areas.
“I think we have an outdated perception of where poverty is and who it is affecting,” said Elizabeth Kneebone, a fellow at the Brookings Institution and co-author of the research. “We tend to think of it as a very urban and a very rural phenomenon, but it is increasingly suburban.”
Simons’ situation is complicated by the fact she’s a single mom. Poverty and financial insecurity among single moms is far higher than for households headed by single dads or two parents.
The rate of poverty among single mothers actually improved dramatically through the 1990s, thanks to a strong economy, more favorable tax breaks and the success of so-called welfare-to-work programs. But two recessions and years of high unemployment erased many of those gains.
Then there’s this… By 2016 China is on track to overtake America as the world’s biggest economy.
