By HOPE YEN, Associated Press Writer Hope Yen, Associated Press Writer – Tue Oct 20, 8:41 am ET
WASHINGTON – The level ofis even worse than first believed.
A revised formula for calculatingand geographic variations show that approximately 47.4 million Americans last year lived in poverty, 7 million more than the government’s official figure.
The disparity occurs because of differing formulas the Census Bureau and theuse for calculating the poverty rate. The NAS formula shows the poverty rate to be at 15.8 percent, or nearly 1 in 6 Americans, according to calculations released this week. That’s higher than the 13.2 percent, or 39.8 million, figure made available recently under the original government formula.