This pandemic has been brutal. The kids are not well. One in six children lives below the poverty line, 30% for black children and 24% for Latino children, according to the Child Defense Fund. If the extended child tax credit, which is paid monthly, becomes permanent, child poverty will be drastically reduced. Not only is he the right one, but he is also the smartest. Moody’s Analytics estimates that Biden’s Jobs and Families plans are likely to pay for themselves in 15 years and increase real GDP by nearly $ 1 trillion in 15 years.
There are great benefits to helping children and their parents, even more than the return of physical infrastructure. Study after study has concluded programs such as food stamps, income credit and Medicaid have achieved a better educated, healthier, longer and more productive life, which makes our economy stronger. We know that diet, medical care, and intellectual stimulation in the beginning are crucial to physical, emotional, and cognitive development. Children enrolled in early education programs are more likely to go to college, earn more money, have better health, and not receive public assistance.
Currently, Early Head Start serves only 11% of eligible children and Head Start only serves 36% of eligible children. 60% of parents say early childhood and preschool spending is an economic leak. Child care eats up 14% of the income of middle-class families and 35% of lower-income families. Public spending on children in the US is well below the average for other countries with advanced economies. Although the United States spends approximately $ 2,500 a year on child care and early childhood education, the average in Europe is $ 4,700 and more than $ 10,000 in Norway and Sweden.