A Tale of Two States: Child Poverty in Massachusetts
Massachusetts has one of the highest median family incomes in the nation, yet its percentage of children who are poor has hovered for years at 13%, even in better economic times.
Child Poverty in Massachusetts: A Tale of Two States was released a month ago and outlines some of the reasons why poverty persists in Massachusetts, including job losses over time, shifts in the labor market, and our high cost of living. The report cites polling data showing strong bi-partisan support among voters for providing greater economic security to help lift children and families out of poverty. Multiple State Poverty Reduction Initiatives are presented with four components of a proposed Massachusetts Initiative.
The Report is funded by the Annie E. Casey Foundation, in collaboration with Massachusetts Kids Count and Massachusetts Citizens for Children.
Payday loan issues are very
Payday loan issues are very controversial today because of the so-called predatory lending practiced by some payday loan company. It’s ridiculous to think that payday loans are responsible for the economic mess in America. Apparently, economists have marked December 2007 the “official” beginning of our current recession. The National Bureau of Economic Research (NBER) identifies top activity at this point, and the U.S economy has been deteriorating since then. The NBER describes recession as “a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in production, employment, real income, and other indicators.” It seems other organizations are in the same boat. Backed by the government, academics and the private sector, it’s as close to official as possible. These conclusions are based upon unemployment, incomes, industrial output and sales data. The highest point in employment and incomes was marked that December. In January, industrial output peaked and five months later, in the month of June, sales peaked. Democrats claimed this wasn’t a shock and called for an economic stimulus package. “The announcement simply makes official what we have long known: with rising costs of living, rising unemployment, record foreclosures and depleting savings, we must do more to help families make ends meet,” says Senate Majority Leader Harry Reid. So, this would mean that the proposal to ban payday loans is not a good plan. Reid highlighted that a recovery package must create more jobs, cut middle class taxes and instill confidence in the market and the people. Payday loans, and any other similar form of lending, have proven once again the magnitude of their importance in our economy. Click here for more information about Payday Loans.
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