But The Economy Is Doing Well

lobotero

Sep 29

Have you noticed that the MSM reports the economy is doing well....apparently based on market information not reality....in other words as long as corporations are turning a big profit the people should be happy and compliant.

If all that is true and the economy is going great why is one of the biggest issues in the upcoming election the economic woes we are facing those days?

If the economy is working so well how come child poverty has risen yet again?

Democratic Sen. Joe Manchin and congressional Republicans faced fresh backlash on Tuesday after the U.S. Census Bureau released new data showing that the nation's child poverty rate more than doubled in 2022 compared to the previous year, thanks in large part to the expiration of the boosted Child Tax Credit.

The expanded CTC, an American Rescue Plan (ARP) policy that sent eligible families up to $300 per month for each child and eliminated the original CTC's regressive phase-in, helped push the U.S. child poverty rate to a record low of 5.2% in 2021.

But the program expired at the end of that year after Manchin (D-W.Va.), who supported the ARP, opposed an extension, baselessly claiming that some parents would use the money on drugs instead of their children. (Survey data showed that most families, including those in West Virginia, used the money to buy food and help with rent, along with other essentials.)

Congressional Republicans, who unanimously opposed the ARP, also rejected calls to support an extension of the boosted CTC, part of a broader pandemic-era safety net that is now collapsing.

The result of the program's expiration, as predicted, was a devastating surge in child poverty. According to the new Census Bureau data, the child poverty rate rose to 12.4% in 2022—the largest single-year increase on record.

The overall U.S. poverty rate also increased, rising from 7.8% in 2021 to 12.4% last year. More than 37 million people in the U.S. lived in poverty in 2022, the Census Bureau said.