The Census Bureau's new (since 2011 but fiddled with again in 2013) Supplemental Poverty Measure (SPM) shows senior poverty in slight retreat since 2009, but you wouldn't know that from the story here (you'd have to look at the chart to the left here) which says it's up between 2015 and 2016, which it most certainly is, but hey, c'mon. The fact is, the "official" measure shows that senior poverty has dropped big time since the mid-1960s when the rate was knocking on the door of 30%, stabilizing in recent years in the 8, 9 and 10% range:
The problem is growing as more Baby Boomers reach retirement age—between 8,000 to 10,000 Americans turn 65 every day, according to Kevin Prindiville, the executive director of Justice in Aging, a nonprofit that addresses senior poverty. Older Americans were the only demographic for whom poverty rates increased in a statistically significant way between 2015 and 2016, according to Census Bureau data. While poverty fell among people 18 and under and people 18 to 64 between 2015 and 2016, it rose to 14.5 percent for people over 65, according to the Census Bureau’s Supplemental Poverty Measure, which is considered a more accurate measure of poverty because it takes into account health-care costs and other big expenses. “In the early decades of our work, we were serving communities that had been poor when they were younger,” Prindiville told me. “Increasingly, we’re seeing folks who are becoming poor for the first time in old age.”
