What is the poverty line? Check out this video from a few years ago, when things were actually a lot better...
Median household incomes are also in steep decline, falling 2.3% between 2009 and 2010 to $49,400 which is a 7% slip from the 1999 peak of $53,252.
45.3% of Americans between the ages of 25-34 now live below the poverty line, forcing them to move back home with parents or into communal living situations.
Timothy Smeeding, director of the Institute for Research and Poverty at the University of Wisconsin, Madison says:
“We’re risking a new underclass. Young, less educated adults, mainly men, can’t support their children and form stable families because they are jobless.”
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