Testimony on Income and Poverty in the United States: 2008

Testimony

Testimony on Income and Poverty in the United States: 2008

Before the Joint Economic Committee of the United States Congress
September 10, 2009

Abstract

Between 2007 and 2008, real incomes fell and poverty rose in the United States, Institute Fellow Harry Holzer testified before the Joint Economic Committee of Congress. Even if the recession ends this year, rising unemployment will mean that real income keeps falling while poverty increases for a few more years and almost certainly by much more than occurred between 2007 and 2008. It will likely take several years beyond 2010 before real income and poverty fully recover from the effects of the downturn.

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