By Charles Brooks
The Economic Policy Institute recently reported that in the roughly three decades leading up to the most recent recession, looking at the officially measured poverty rate, educational upgrading and overall income growth were the two biggest poverty-reducing factors, while income inequality was the largest poverty-increasing factor. The federal government set the poverty line at $23,550 for a family of four in 2013, $11,490 for a single individual, and $4,020 for each individual person. The Blackboard spoke with Dr. Wilhelmina A. Leigh, who serves as a Senior Research Associate with the Joint Center for Political and Economic Studies, about poverty in America: “People have to be aware of (poverty), care about it and understand that having the kind of inequality we have in this country is not good for any of us. People have to be made aware, somehow, that inequality and high levels of poverty impairs all of our lives and limits the growth of our economy.”
Showing posts with label Dr. Jared Ball. Show all posts
Showing posts with label Dr. Jared Ball. Show all posts
Wednesday, February 12, 2014
The poor suffers again...billion$ in cut$ to food stamp$
By Charles Brooks
Photo credit: kevin dooley via photopin cc
Just ten days after delivering his most recent State of the Union address, where he described 2014 as the “year of action” – President Barack Obama kicked off the year by signing into law a $987 billion Farm Bill. In doing so, the president signed away $80 billion, over a ten-year period, in cuts to food stamp benefits. According to the Congressional Budget Office, the cuts will affect approximately 850,000 people, who will see their monthly benefits reduced by $90. But just a few days ago, President Obama stood before the nation and outlined his proposals designed to tackle poverty, income inequality and economic mobility. These proposals focused on job creation, immigration reform, tax policy reform, job training, and unemployment insurance reform. Yet days later, President Obama talks about the reforms and the billions of dollars the new law will save. The $987 billion Farm Bill appears to be another example of how public policy can exacerbate poverty while simultaneously advancing income inequality. Consider for a moment that while billions of dollars are cut from food stamps – the agribusiness interests will reap the benefit$.
Just ten days after delivering his most recent State of the Union address, where he described 2014 as the “year of action” – President Barack Obama kicked off the year by signing into law a $987 billion Farm Bill. In doing so, the president signed away $80 billion, over a ten-year period, in cuts to food stamp benefits. According to the Congressional Budget Office, the cuts will affect approximately 850,000 people, who will see their monthly benefits reduced by $90. But just a few days ago, President Obama stood before the nation and outlined his proposals designed to tackle poverty, income inequality and economic mobility. These proposals focused on job creation, immigration reform, tax policy reform, job training, and unemployment insurance reform. Yet days later, President Obama talks about the reforms and the billions of dollars the new law will save. The $987 billion Farm Bill appears to be another example of how public policy can exacerbate poverty while simultaneously advancing income inequality. Consider for a moment that while billions of dollars are cut from food stamps – the agribusiness interests will reap the benefit$.
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