Foreword
Each fall, the U.S. Census Bureau issues a report on poverty based on family income before taxes and excluding noncash benefits. In 2007, 37.3 million people (about 13 percent of the population) lived in poverty in the United States, up from 11.3 percent in 2000. Poverty rates have remained statistically unchanged for most age and ethnic groups since 2006, but have increased for Hispanics and children under 18. Poverty among the elderly has fallen consistently over the years, as a result of Social Security. It should be noted that poverty is cyclical in nature, with roughly 40 percent of the…
