Child poverty rate in Biden’s America has doubled in just one year, says US Census Bureau.
New Data Reveals Troubling Reality of Bidenomics: Child Poverty Rate Skyrockets
In a surprising turn of events, recent data from the Census Bureau has exposed the harsh truth behind President Joe Biden’s claims of transforming America for the better. Contrary to his assertions, the Supplemental Poverty Measure shows that America’s child poverty rate more than doubled from 2021 to 2022, skyrocketing from 5.2 percent to 12.4 percent.
The Census Bureau’s supplemental measure of poverty, compared to the official measure, reveals that 38 states experienced lower poverty rates, while three states saw higher rates, and nine states remained relatively unchanged.
According to the Census, the expiration of temporary expansions to the Child Tax Credit (CTC) and the Earned Income Tax Credit (EITC), along with the end of pandemic-era stimulus payments, were major factors contributing to the increase in poverty.
The Census Exposes Bidenomics
The Wall Street Journal, in an editorial titled “The Census Exposes Bidenomics,” scolded the president for his role in this alarming trend. The editorial highlighted the detrimental effects of excessive social-welfare spending, which led to the highest inflation in 40 years, ultimately making Americans poorer. The Journal firmly stated that Congress should not heed Biden’s demand for more spending.
Furthermore, the editorial pointed out that Biden’s attempt to blame Republicans for the rise in child poverty was baseless, as Republicans did not control Congress during the relevant years.
Adding to the economic concerns, the Bureau of Labor Statistics reported multiple cost increases for consumers in August. Energy prices rose significantly, with the gasoline index increasing by 10.6 percent. Food prices and rent also experienced notable increases.
Commenting on these distressing numbers, Michael Snyder warned that the United States is at a major economic tipping point, with more job losses on the horizon. He highlighted a statement from JPMorgan Chase CEO Jaime Dimon, who cautioned against assuming a strong consumer base and a booming economy, emphasizing the excessive government spending.
Snyder interpreted Dimon’s remarks as a recognition that the economic situation has deteriorated to a critical level. He lamented the consequences of decades of poor decision-making, predicting severe hardships for future generations. The child poverty rate has already more than doubled, and as the U.S. economy continues to crumble, it will only worsen.
It is clear that the reality of Bidenomics does not align with the president’s optimistic rhetoric. The alarming increase in child poverty and the escalating economic challenges facing Americans demand immediate attention and a reassessment of current policies.
Source: The Western Journal
What factors contributed to the significant increase in child poverty rates revealed by the Supplemental Poverty Measure data?
Enomics,” highlights the concerning reality revealed by the latest data from the Census Bureau. It challenges President Biden’s claims of transforming America for the better and sheds light on the soaring child poverty rate.
Contrary to the promises made by the current administration, the Supplemental Poverty Measure (SPM) data unveils a distressing picture. The child poverty rate in the United States more than doubled in just one year, jumping from 5.2 percent in 2021 to a staggering 12.4 percent in 2022.
The Census Bureau’s supplemental measure of poverty, which provides a more accurate and comprehensive analysis than the official measure, portrays a complex situation. While 38 states witnessed a decrease in poverty rates, three states experienced an increase, and nine states remained relatively unchanged.
According to the Census Bureau, various factors contributed to this alarming rise in child poverty. Notably, the expiration of temporary expansions to crucial programs such as the Child Tax Credit (CTC) and the Earned Income Tax Credit (EITC) played a significant role. These expired expansions, coupled with the end of pandemic-era stimulus payments, left vulnerable families without the necessary financial support.
The repercussions of this surge in child poverty are far-reaching and have the potential to shape the future of our nation. Children living in poverty face numerous challenges, including limited access to quality education, healthcare, and opportunities for upward mobility. This, in turn, perpetuates a cycle of socioeconomic inequality and reduces the potential for long-term economic growth and prosperity.
The editorial in The Wall Street Journal is a critical wake-up call for President Biden and his administration. It underscores the urgency with which they must address this troubling reality. While the pursuit of ambitious policy agendas is commendable, it is equally important to ensure that the most vulnerable members of society are not left behind.
The data also serves as a reminder to policymakers and legislators at all levels of government that the fight against poverty requires pragmatic and sustainable approaches. Expanding and improving social safety nets, investing in education and healthcare, and creating opportunities for upward mobility are crucial steps towards eradicating child poverty.
As citizens, it is our responsibility to hold our elected officials accountable and demand a comprehensive strategy to combat child poverty. Government initiatives should not only focus on immediate relief through cash transfers but must also address systemic issues contributing to poverty, such as access to affordable housing, quality healthcare, and job opportunities.
In conclusion, the latest data from the Census Bureau exposes the harsh reality of Bidenomics – a significant increase in child poverty rates. As a nation, we must confront this troubling truth and take swift action. It is imperative for our government to prioritize policies that effectively alleviate poverty and provide equal opportunities for all children to thrive and succeed. Only through concerted efforts can we build a brighter future for generations to come.
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