Government

Obama’s significant drop in poverty

According to Paul Krugman (NYTs October 14, 2016), President Obama has presided over a “significant drop in poverty.”

Based on US Census data, in 2015 10.4% of all families lived below the poverty line. In 2008, that number was 10.3%, in 2000 it was 8.7% and in 1990, 10.7%

Looking at Black families alone it was 21% in 2015, 21.9% in 2008, and 21.4% in 2002, the last year presented on their tables.

shell_game_lg_clrEven using Krugman’s own tables reflecting the Current Population Survey, poverty rates were at 14.5% in 2009 and were higher through 2014 while declining to 13.7% in 2015.

So, that significant drop in poverty rates was 0.8% over a seven-year period or 0.114% per year?

If that’s all it takes to achieve significant change, what the heck does he call an average health care inflation rate exceeding 5% a year in a low inflation (*) environment , a significant accomplishment of Obamacare?

(*) Note: The latest inflation rate for the United States is 1.1% through the 12 months ended August 2016, as published by the US government on September 18, 2016.

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2 replies »

  1. Inflation is 1.5% as published on Oct 18, 2016.

    If poverty has dropped then why do we have to get the rich to pay more since more of the poor must be getting raises to get out of poverty?

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  2. Lies, Damned Lies and Statistics. So what the numbers really show is more people are living in poverty. Since there are more households since BHO took office.

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