America's Greatest Shame: Child Poverty Rises and Food Stamps Cut While Billionaires Boom

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http://www.alternet.org/hard-times-usa/americas-greatest-shame-child-poverty-rises-and-food-stamps-cut-while-billionaires



There are 16.4 million American children living in poverty. That's nearly one quarter (22.6%) of all of our children. More alarming is that the percentage of poor children has climbed by 4.5 percent since the start of the Great Recession in 2007. And poor means poor. For a family of three with one child under 18, the poverty line is $18,400.

Meanwhile, the stock market is booming. Banks, hedge funds and private equity firms are making tens of billions of dollars again, while the luxury housing and goods markets are skyrocketing.

Most amazing of all is the fact that 95 percent of the so-called "recovery" has gone to the top 1 percent who have seen their incomes rise by 34%. For the 99 percent there's been an undeclared wage freeze: the average wage has climbed by only 0.4 percent.

To add to the misery, Washington has decided that the best way to tackle childhood poverty is to have poor kids eat less. Both parties already have agreed to cut billions from the Supplemental Nutrition Assistance Program (Food Stamps). Starting this November 1, payments are scheduled to drop from $668 a month to $632 for more than 47 million lower-income people -- 1 in 7 Americans, most of them children. (Three incredible graphs that visualize the issues in this story are at the bottom of this article.)