It seems like most of the reporting of numbers that pump up Bidenomics are made up.
Jobs - much less and almost all to none citizens.
New business starts - probably due to Uber, Doordash and the like drivers having to get and EIN as a contractor.
Manufacturing investment growth - it looks like it is all government funding for things that are not happening since manufacturing jobs are down.
Crime reduction - due to multiple cities that stopped reporting.
Recently Kamala said that they had dropped the child poverty rate by 50%.
The Supplemental Poverty Measure (SPM) rate increased by 4.6 percentage points from 2021 to 2022, with the SPM child poverty rate more than doubling during the same period
Reading various sources of information the reason given for the reduction was the child tax credit. In 2017 the tax credit went from $1000 to $2000. In 2021 it went from $2000 to $3000. I think the tax credit was reduced back to $2000.
Looking at these two graphs, it doesn’t appear to me that the child tax credit is the sole reason that children in poverty dropped. What caused the change from 2019 to 2020? An additional $1000 tax credit further reduced children in poverty by 3.3 million or the Harris 50% and then the elimination of this $1000 tax credit caused 5 million to go back into poverty?
It is more likely that other stimulus combined with inflation were the reasons for the drop and then increase. Also, the child tax credit bill in 2024 was $78 billion. If there are 9 million children in poverty and the bill gives an additional $1000 per child my math says that is 9 billion.
I couldn’t quickly find the same source for the US poverty income by year, but using different sources here is a summary for a family of 3:
The city can move now on the more than $500 million it owes nonprofits before they face possible federal cuts in funding.
Even before the election, I was deeply distressed about the condition of New York’s nonprofit sector. Long-standing nonprofits are failing – Cause Effective, IOBY, Hester Street, SAALT – with many more at the edge of the abyss, having already furloughed or laid off staff. One contributing factor in many of these distressed situations is late payment by New York City.
according to the data in PASSPort Public, you owe nonprofits more than $500 million for work done under more than 1,900 contracts that remain unregistered not to mention late payments for contracts that are registered – but it’s a drop in the bucket when your total budget is more than $110 billion.
