In 2023, the United States remains the largest global economy, generating $27.7 trillion and showcasing an unparalleled standard of living. Despite this wealth, about 12.5% of Americans live below the poverty line. While the situation has improved over the decades since the 'War on Poverty' began, income disparities persist. Currently, the U.S. boasts a high per capita income of $80,450, with a significant number of millionaires. However, serious financial hardship remains a reality for millions, underscoring the challenges of complete economic inclusion.
As of 2023, about half a century after President Lyndon Johnson declared war on poverty, about 12.5% of the U.S. population were living below the poverty line.
According to the World Bank, per capita income in the United States totaled $80,450 in 2023, about $67,300 more than the per capita gross national income globally.
Even though the U.S. economy has created substantial personal fortunes for many Americans, there are still a meaningful number of U.S. citizens who have been left behind.
Even in a country as wealthy as the United States, serious financial hardship has yet to be eradicated.
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