Study: 8 million more Americans have fallen into poverty

Millions more Americans fall into poverty

According to a new study, eight million more Americans have fallen into poverty as a direct result of the federal unemployment insurance expiring.

A study conducted by Columbia University says that more than 8 million Americans have fallen into poverty as a direct result of losing the $600 weekly supplemental unemployment checks that game from the first COVID-19 stimulus package passed by Congress in the Spring.

The checks expired in July, sending millions of Americans back into poverty and without much hope on the horizon, as Congress is still far apart on agreeing to a new stimulus package.

A high poverty rate is also a drag on the economy as a whole.

“If you want a swift economic recovery, if you want to see your paychecks going up, well then we need more people spending money in the economy,” Parolin said.

The bottom line, experts say, is that if the federal government does not pass another rescue bill, the poverty rate will continue to rise at a fast pace.

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