From the Daily Beast:
Is this what decline looks like? According to new supplemental data from the Census Bureau, nearly half of Americans—a shocking record number—have fallen under the poverty line or are classified as “low income” and barely scraping by. Many in the middle class have dropped to the low-income threshold, meaning they make less than $45,000 for a family of four, because of pay cuts or spouses losing jobs. They number 97.3 million, and together with the 49.1 million in poverty, they represent about 48 percent of the U.S. population, or 146.4 million. That’s up by 4 million from 2009 numbers.
That seems rather high for a poverty threshold. What defines ‘poor?’ What criteria is used? Does it vary from region to region? Many starting pay jobs in this area are below $45,000. Recently separated or divorced women often have to restart careers making this much money. Are they all living in poverty? Starting pay in Prince William County for a first year teacher is $43,615 for 195 days work. No paid holidays etc. That’s below the poverty level if that teacher has a spouse and kids.
Don’t get me wrong. I don’t think living on $45,000 would be picnic, but I think you can have a roof over your head and clothes on your back, even in Northern Virginia. Do we need to rethink what poor is? What does poor mean to you?
Will Northern Virginia suffer a financial relapse? If yes, what will cause it? What can we do to insulate ourselves and our families from it?
