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U.S. Poverty: Census Finds Nearly Half Of Americans Are Poor Or Low-Income

U.S. Poverty: Census Finds Nearly Half Of Americans Are Poor Or Low-Income
First Posted: 12/15/11 02:03 AM ET Updated: 12/15/11 10:05 AM ET

WASHINGTON — Squeezed by rising living costs, a record number of Americans – nearly 1 in 2 – have fallen into poverty or are scraping by on earnings that classify them as low income.

The latest census data depict a middle class that’s shrinking as unemployment stays high and the government’s safety net frays. The new numbers follow years of stagnating wages for the middle class that have hurt millions of workers and families.

“Safety net programs such as food stamps and tax credits kept poverty from rising even higher in 2010, but for many low-income families with work-related and medical expenses, they are considered too `rich’ to qualify,” said Sheldon Danziger, a University of Michigan public policy professor who specializes in poverty.

“The reality is that prospects for the poor and the near poor are dismal,” he said. “If Congress and the states make further cuts, we can expect the number of poor and low-income families to rise for the next several years.”

http://www.huffingtonpost.com/2011/12/15/census-shows-1-in-2-peopl_1_n_1150128.
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Last week’s selloff did less damage than it may have felt like. The drop stopped in the area of 3 crossing uptrend lines, ranging in length from short term to long term. Here’s what would tell us whether the uptrend is still in force, or signal that something evil this way comes. I have added 8 new stocks to the swing trade chart pick list, including 2 shorts.

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