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Mark Thornton: ‘Record number of Americans in extreme poverty’ (with video)

September 9, 2014 in Economics

By Ryan McMaken

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Mark Thornton on PressTV:

“The United States has problems with unemployment and has problems with poverty and a record number of people meeting the standard of extreme poverty,” said Mark Thornton, senior fellow with the Ludwig von Mises Institute in Alabama and a research fellow with the Independent Institute in California.

“Extreme poverty in the United States is now over 4 percent, that means they have less than $2 cash per person, per day,” Thornton said in a phone interview on Monday.

“We also have over 20 percent of Americans on food stamps with a record number of households receiving food stamps and other government welfare benefits,” the economist stated. “So the direction of change in the United States has been negative with respect to poverty over the last several years and that doesn’t seem to be turning around anytime soon.”

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Source: MISES INSTITUTE

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