Page One Daily News -
Record number of Hispanics living in poverty
Hispanics living in poverty overtakesblacks for first time
The numbers released Monday are based on a new calculation formula which for the first time takes into account rising medical costs, in an effort to give a more complete picture of poverty. The new figures are expected to heat up the debate over Social Security, Medicare and programs to help the poor just as a congressional super-committee nears a Nov. 23 deadline to make more than $1 trillion in cuts to the federal budget. Based on this new formula, for the first time the share of Hispanics living in poverty was higher than African-Americans: 28.2% to 25.4%. That is due to lower participation among immigrants in government aid programs such as housing and food stamps. Overall the number of poor people exceeds the record 46.2 million, or 15.1%, that was officially reported in September. Americans 65 or older nearly doubled to 15.9% because of their medical expenses. Working-age adults ages 18-64 saw increases in poverty from 13.7% to 15.2%.