Americans are slipping into poverty at a record rate, while 90% of the nation's 50 largest publicly traded companies continue to turn profits, according to findings from two reports published by The Washington Post.
Data show 7.8 million Americans have fallen into poverty in just the past five months. The plummet outpaced the next worst slide into poverty, which came during the 1978-1980 oil crisis and saw a rate of decline into poverty only half what it has been in 2020.
In November, 11.7% of Americans were living in poverty, which is defined at the federal level as an annual income of $26,200 for a family of four....
