- Daily Zen
These lower income and higher poverty levels are also reflected in a growing trend of “doubled-up” households, which the report defines as households that include at least one “additional” person who is 18 or older, not enrolled in school, not the house owner and not the spouse or partner of the house owner. According to yesterday’s Census Board report, the total number of doubled-up households recorded in spring 2007, prior to the recession, was at around 19.7 million. In comparison, by spring 2011 this number had risen by 2.0 million to 21.8 million. This change is reflective of the 5.9 million young adults, aged 25 – 34 (14.2 percent), living with their parents’ households, as compared to 4.7 million (11.8 percent) that was recorded before the recession.
The Census Bureau report comes soon after President Obama’s efforts to try to pass a jobs bill with his proposed package of $447 billion in tax cuts and spending towards reviving job growth and economic recovery. How this grim economic situation is handled and the way poverty and income numbers progress is likely to have a significant impact on President Obama’s 2012 re-election campaign. The Jobs plan being proposed by Obama includes a payroll tax holiday for workers and employers, tax credits for employers who hire long-term unemployed workers and an extension of unemployment benefits. Katharine Abraham, a member of the White House Council of Economic Advisers said in a statement, “It’s a good package. If it is not enacted, there could be people who experience significant problems.” The job-creation policies being put forth by the president are being set up so as to take effect as soon as Congress passes the bill, paired with tax increases, mostly on the top 2 percent of households that make more than $250,000 a year, starting in 2013. It is this last part of Obama’s plan however, that is already facing a lot of disagreement from the Republicans, with House majority leader, Eric Cantor, voicing his discontent with a plan that will tax “job creators” and Senate minority leader, Mitch McConnell, saying that the tax proposals were dead on arrival.