[Ed. – Hope and change]
The wallets of America’s middle class and poorest aren’t seeing any extra money, the U.S. Census reported Wednesday, a financial stagnation experts say may be fueling political dissent this campaign season.
The Census Bureau, in its annual look at poverty and income in the United States, said both the country’s median income and poverty rate were statistically unchanged in 2014 from the previous year.
Median income — the point where half of the households have income below it and half have income above it — showed no statistically significant change, despite the small drop to $53,700 in 2014 from 2013’s $54,500. Median income is a broad measure of the economic health of the middle class.
The poverty rate also showed no statistically significant change. In 2014, the poverty rate in the United States was 14.8 percent, which was the same as in 2013. The poverty rate had dropped in 2013 from 15 percent in 2012, the first such drop since 2006.
There were 46.7 million people in poverty, which is also a statistically similar number from the previous four years. In 2014, a family with two adults and two children was categorized as in poverty if their income was less than $24,008.