Tuesday, November 15, 2011

A Different Portrait of Poverty


To address shortcomings in the way poverty is measured in the United States, the Census Bureau has developed more comprehensive alternate measures. The example below calculates poverty rates by taking into account cost of living, taxes, medical expenses and benefits like food stamps and housing subsidies.
http://www.nytimes.com/interactive/2011/11/04/us/different-portrait-of-poverty.html
I would also recommend www.ShadowStatistics.com


 Unfortunately it's common practice to adjust economic indicators when politicians know they can't improve the numbers. So they simply change how they count... Which is why measures for inflation no longer include the costs of food, water, energy, fuel, etc... Which is exactly what you spend your money on to survive... Go figure.

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