The United States is in the pit of the deepest recession since the 1930s. And yet, a recent study from the University of Chicago using Census data found that the poverty rate actually decreased from 10.9 percent in early 2020 to 8.6 percent in April and May. That’s not just unusual and highly welcome, it is the lowest rate ever recorded since the government began keeping official poverty figures in the 1960s.
The reason is two parts of the CARES Act, passed back in March: the one-off economic rescue payment (which gave $1,200 to most individuals, and $500 to children) […]
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