From the New York Times on March 11, 2021: The American Rescue Plan Act proposed by Democrats in Congress and supported by President Biden reinstates significant aid for children. …[U]nlike most of the act’s provisions, this change is intended to outlast the current crisis; Democrats hope and expect that substantial payments to families with children will become a permanent part of the American scene. According to economist Paul Krugman, writing in the New York Times, “The Democrats’ new child benefit is a very big deal.” “So is ‘welfare’ back?” Krugman says, “Not really.” [Welfare refers to Aid to Families with Dependent Children or A.F.D.C.] A.F.D.C. was intended to provide mothers with enough to get by — barely — while raising their children. In 1970 three-person families on A.F.D.C. received, on average, $194 a month. Adjusting for inflation, that’s the equivalent of around $15,000 a year today, compared with the $6,000 a family with two children over age 6 ($7,200 if they’re under 6) will receive under the new plan. In 1970, an A.F.D.C. family of three received about 25 percent of median income for three-person families — hardly a generous allowance, but maybe, just, enough to live on. The new American Rescue Plan will give a single parent of two children less than 7 percent of median income. a. Verify that $194 per month in January 1970 is about $15,000 yearly today (April 2021). Type your work and answer here: b. What was the U.S. family median income in 1970? Confirm that an AFDC family of three received 25% median income in 1970. Type your work and answer here: c. What is median family income today (2021)? How much will the new relief bill give to a single parent with two children annually? Type your work and answer here:
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From the New York Times on March 11, 2021:
The American Rescue Plan Act proposed by Democrats in Congress and supported by President Biden reinstates significant aid for children. …[U]nlike most of the act’s provisions, this change is intended to outlast the current crisis; Democrats hope and expect that substantial payments to families with children will become a permanent part of the American scene.
According to economist Paul Krugman, writing in the New York Times, “The Democrats’ new child benefit is a very big deal.”
“So is ‘welfare’ back?” Krugman says, “Not really.” [Welfare refers to Aid to Families with Dependent Children or A.F.D.C.]
A.F.D.C. was intended to provide mothers with enough to get by — barely — while raising their children. In 1970 three-person families on A.F.D.C. received, on average, $194 a month. Adjusting for inflation, that’s the equivalent of around $15,000 a year today, compared with the $6,000 a family with two children over age 6 ($7,200 if they’re under 6) will receive under the new plan.
In 1970, an A.F.D.C. family of three received about 25 percent of median income for three-person families — hardly a generous allowance, but maybe, just, enough to live on. The new American Rescue Plan will give a single parent of two children less than 7 percent of median income.
a. Verify that $194 per month in January 1970 is about $15,000 yearly today (April 2021).
Type your work and answer here:
b. What was the U.S. family median income in 1970? Confirm that an AFDC family of three received 25% median income in 1970.
Type your work and answer here:
c. What is median family income today (2021)? How much will the new relief bill give to a single parent with two children annually?
Type your work and answer here:
