The child nutrition bill that President Obama signed this morning includes an important new option that will allow thousands of schools in high-poverty areas to focus on feeding children rather than processing paperwork. This is a terrific opportunity for states to serve more low-income children through the school meals program.
BEYOND THE NUMBERS
Last night, the Senate released legislative language for the tax cut-unemployment insurance compromise negotiated between President Obama and Congressional Republicans. The Joint Committee on Taxation (JCT) released an official cost estimate for the revenue portions of the bill shortly thereafter. These graphs illustrate the various components of the legislation and their costs; click here for details.
The provisions of the new deal on tax cuts and unemployment insurance that would give a huge windfall to the heirs of the nation’s wealthiest estates cannot be justified on the grounds of either economic growth or fiscal responsibility.
The Center’s executive director, Robert Greenstein, has issued a statement on the deal announced yesterday between President Obama and Republican leaders:
Chief Economist Chad Stone weighed in on the New York Times’ “Room for Debate” forum, which features commentary from policy experts on a variety of pressing issues. The topic was “The Income Gap and Deficit Reduction,” and Stone explained that deficit reduction is essential but should be designed in a way that does not worsen income inequality.
As we think about what we have to be thankful for this holiday season, it’s important to remember that millions of Americans are having trouble affording basic necessities. Below are the most current figures available in five important areas.
In 1926, F. Scott Fitzgerald wrote that the rich “are different from you and me,” and Ernest Hemingway supposedly retorted, “Yes, they have more money.” The recent recession didn’t change things much.
Describing the social and economic costs of growing income inequality, economist Robert Frank explained in yesterday’ New York Times that while the first three decades after World War II were a time of broadly shared prosperity, income gains over the next three decades went almost entirely to the very wealthy. You can see the striking contrast in the graph below.
Today, we sat down with Arloc Sherman, Senior Researcher in the Center’s Welfare Reform and Income Support Division, to discuss “deep poverty” and how it affects families.