Jared Bernstein

The problem of poverty in America looms large even in the best of times. The most recent economic boom got the share of those officially deemed poor down to 11.7 percent, or about 33 million persons, but poverty rates are much higher for economically vulnerable groups such as single mothers, African Americans and Hispanics. Advocates […]

Newly released data on income and poverty suggest that the recent economic downturn hit lower-income families disproportionately. The latest Census Bureau report found that poverty began rising and median family income started falling in 2001, confirming what many of us have always known: The key to improved living standards for the bottom half was, and […]

Even before the World Trade Center tragedy struck a blow at the economy, the national unemployment rate had begun to rise in recent months–and comments like these began appearing in the press: “The economy is moving to a more normal, sustainable unemployment rate after a period of rapid growth” (Neal Soss, chief economist at Credit […]

For the first time in a decade, our economy is in recession. It’s not official yet–the group that dates recessions doesn’t act until after the fact–but there’s little doubt that we’re in the midst of a downturn. The tragedy of September 11 didn’t sink the economy; it was already listing badly. But the terrorist attacks […]

I like the Earned Income Tax Credit (EITC) a lot. I also really like brownies with gobs of vanilla ice cream and hot fudge. But I don’t have them for breakfast, lunch, and dinner. The EITC–a refundable tax credit that subsidizes the wages of low-income workers–is everyone’s darling. New Democrats love it. President Clinton expanded […]