Poverty & Family Economics
One in five children live in poverty today. Economic insecurity in childhood can often lead to lifelong disadvantages, ranging from poor health to low achievement in school. Federal investments like the Earned Income Tax Credit and Child Tax Credit lift millions of children and families out of poverty every year, but yet children still continue to bear the brunt of the recession’s effects. The good news is that we know how to reduce child poverty. We can look to the United Kingdom, where the British government halved child poverty in 2009 through a coordinated strategy of investments for children, measures to make work pay, and efforts to increase financial support for families. We can also look to what has worked here in the US and our success in significantly reducing senior poverty through federal investments like Medicare and Social Security. We need to build on what works and help working families provide the security that is essential to ensure that all children can fulfill their potential.