US Poverty at New High: 16% or 49.1 Million

Full Story: Equal Voice

A record number of Americans — 49.1 million — are poor, based on a new census measure that for the first time takes into account rising medical costs and other expenses, reports Equal Voice quoting the Associated Press.

Broken down by group, Americans 65 or older sustained the largest increases in poverty under the revised formula — nearly doubling to 15.9 percent, or 1 in 6 — because of medical expenses that are not accounted for in the official rate. Those include rising Medicare premiums, deductibles and expenses for prescription drugs.

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Posted in: Population, Poverty, USA