“2021 Poverty Projections: Assessing the Impact of Benefits and Stimulus Measures”

“2021 Poverty Projections: Assessing the Impact of Benefits and Stimulus Measures,” by Laura Wheaton, Linda Giannarelli, and Ilham Dehry, Urban Institute

Quote:

“In an earlier brief, we estimated that the American Rescue Plan Act, enacted in March 2021, would reduce the 2021 annual poverty rate to 8.7 percent (Wheaton et al. 2021). We now project a 2021 poverty rate of 7.7 percent for 2021. … Using the Supplemental Poverty Measure, the annual poverty rate projection for 2021 of 7.7 percent is well below the rate of 13.9 percent that we estimate for 2018. … The federal stimulus checks have a larger antipoverty impact than any of the other programs; if all other programs were in place but the stimulus checks had not been paid, we project 12.4 million more people would be in poverty in 2021.”

 

 

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

Evidently, the Urban Institute thinks printing money with nothing backing it up and showering it on people reduces poverty. All it actually does is create inflation which exacerbates poverty and hurts the poor most. This madness will not end well.