“A combination of joblessness due to the Great Recession and welfare reform meant to encourage work has led to more than a doubling of “extreme” poverty in the United States, a new study has found.
Using a World Bank definition usually applied to developing countries, the National Poverty Center found that the number of households getting by on less than $2 per person, per day increased to 1.46 million households in 2011 from 636,000 in 1996, a climb of more than 129 percent.
Welfare reform in the late 1990s eliminated the sole cash entitlement program for poor families with children, replacing it with time-limited cash assistance that required able-bodied people to seek work. Children were the hardest hit: The tapering off of assistance has doubled the numbers of children in extreme poverty households, to 2.81 million from 1.38 million….”
If you enjoy the content at iBankCoin, please follow us on Twitter