The U.S. Census Bureau reports that the number of U.S. citizens living in poverty increased to 43 million, in 2009 (the most recent survey data).

If corporations keep reporting profits, why aren’t they hiring more people?   Paul Sheldon Foote says corporate America is still “cooking their books”, the recovery is false: “…how is it possible for example for American banks to report increases in income and have their stocks go up when all they’re doing is releasing reserve accounts on their balance sheet.”

Also: “If in fact you are playing games with the accounts creating reserve accounts and releasing reserve accounts and playing other accounting tricks you are publishing false financial statements. This is what has been happening.”

Foote is an Accounting Professor at California State University in Fullerton.