From WSJopinion: You don’t cut poverty by increasing people’s reliance on government. You do it by making them self-reliant, writes Tomas J. Philipson
Main Street:"Inflation is just like alcoholism," said economist Milton Friedman."In both cases...the good effects come first, the bad effects only come later." Could there be a lesson here for Joe Biden? Images: Bettmann Archive/Getty Images Composite: Mark KellyAmong the Biden administration’s favorite claims is that it has cut child poverty in half. True, the $1.
The advance payments to alleviate child poverty were partly or fully eroded by the higher prices caused by President Biden’s policy trifecta of increased demand, crimped supply and an accommodative monetary policy. This year’s resulting 6.8% rise in the consumer-price index isn’t likely to slow down, particularly since 40% of core CPI is shelter, composed of rent and owners’ equivalent rent. This measure lags behind housing prices, which are booming. The 9.
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