While one set of data points to increase in the nations’s poverty rate…..
Another set of data points to Government stimulus assistance money actually dropping the poverty rate and keeping the nation’s economy from worst conditions due to the pandemic closures….
Good economic and political news for Joe Biden & Co. and America on the whole….
The decline in the poverty rate means that millions of Americans were lifted out of severe financial hardship last year, the U.S. Census said. Poverty is defined as having an income of less than $26,200 a year for a family of four.
Extensive federal relief assistance passed during the coronaviruspandemic is widely credited by economists and policy experts for preventing another Great Depression. The stimulus payments provided $1,200 cash payments to most low-income and middle-class Americans last year, moving 11.7 million people out of poverty, the Census said. Another 5.5 million people were prevented from falling into poverty by the enhanced unemployment insurance aid….