A Journal opinion article - Essay Example

The poverty situation in America According to the economic report of the US President that was released last Monday about the poverty situation in the US, and contains an overview of the last five decades, the situation seems tricky and unfathomable. Is the overall situation disheartening? It cannot be denied, considering the launch of anti poverty campaigns by President Johnson and the calculation of Orshansky, a civil servant for determining the number of those people who are below the line of poverty.

While the calculation is intriguing, it might seem to the rest of the world that the report is erroneous although there is no reason to harp on this issue since the myth about the flourishing economic situation of America has disappeared since the days of the sub prime crisis. The other question that requires analysis is whether the foundation of this data is indisputable or not. This is because the way in which such data is calculated in the countries of European Union is different. The countries of the western European region have been moving through shaky financial situation for a long time when other problems such as unemployment are added to it.

According to an estimate, the poverty situation in the US would have been higher if the method of calculation would have been on the lines of the European nations. However, that would not change the problem of poverty of a country that has always remained the hub of financial excesses. The economists have expressed extreme annoyance on this report that has been released by the President. The statistics of poverty situation might not be promising in the US particularly from the time of recession that gripped the nation with its ugly claws and gradually captured the entire world.

However, as the economists have expressed that the data that has been taken into account for calculation is not correct as it has left out some of the most important aspects such as tax credits. When compared with the developing nations such as India or a part of South Eastern Asia, the poverty in the US might not be as bleak as it has been presented in the report. Poverty is necessarily a curse of every economy although it goes alongside irrespective of the situation. As a matter of fact, it is difficult to predict the way in which financiers would react to this report; overall the situation would not have much promises for them although the people who are thought to be under the grip of poverty or classified as belonging to the category below the line of poverty.

In short, investments in the real estate or stock trading might be hit by this report as it casts a shadow on the comprehensive economic atmosphere of a country. On the contrary, a blooming economy brings better opportunities for the people and reenergizes the lost zeal of the financiers. Although, the report is not entirely negative, the opinion of economists offer better provisions and diminishes the pessimism of the contents of the report that states the current situation of poverty in the US.

At the same time the article unravels the story of America in a different perspective that opens the door of knowledge for many who have always dreamt about the burgeoning nation.Reference1. C.W. Poverty In America, The Other America (2014), The Economist. Retrieved on March 20, 2014 from http://www.economist.com/blogs/freeexchange/2014/03/poverty-america?zid=295&ah=0bca374e65f2354d553956ea65f756e0