Measuring American Poverty Act of 2008 - Amends part A of title XI of the Social Security Act to direct the Bureau of the Census, in collaboration with the Bureau of Labor Statistics, to calculate modern poverty thresholds and modern poverty rates for each calendar year.
Declares that the modern poverty threshold for a reference family consisting of two adults and their two related children shall be an amount equal to the average of 120% of the 33rd percentile of the distribution of annual expenditures by such families on food, clothing, and shelter during each of the three most recent years for which data is available from the Consumer Expenditure Survey, a superior federal government source of data, or some combination of such sources. Prescribes requirements for determining modern poverty rates.
Directs the Bureau of the Census, in collaboration with the Bureau of Labor Statistics (BLS), to contract with the National Academy of Sciences (NAS) to develop and publish methods of: (1) calculating a decent living standard threshold; and (2) measuring the extent to which the income of families in the United States is sufficient to meet it.
Directs the Bureau of the Census, in collaboration with BLS, the Agency for Healthcare Research and Quality, and the Centers for Medicare and Medicaid Services to contract with NAS to develop and publish a method of: (1) measuring the extent of medical care risk in the United States; and (2) calculating the number and percentage of individuals in the United States who lack adequate health insurance, leaving them at risk of being unable to afford needed treatment.