US Poverty Rate Hits 27-Year High

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The number of Americans living in poverty has hit a 27-year high.

The Census Bureau reports 15.1 percent of people fell below the poverty line in 2010 -- more than 46 million people or one in every six people.
  
Experts say unemployment is largely to blame. Joblessness has hovered about 9 percent for two years.

Robert Rector, a senior research fellow with The Heritage Foundation, talked more about the latest poverty data and its implications for the economy on Newswatch, Sept. 13.
 
Since 2007, the poverty rate has increased faster than any three-year period since the early 1980s.

Mississippi has the highest percentage of poor people with almost 23 percent below the poverty line, followed by Louisiana, the District of Columbia and Georgia.

Bruce Meyer, a professor at the University of Chicago, warns the worst may be yet to come.
 
Meyer believes the rising demand for food stamps show things have gotten even worse this year.

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