An estimated 30% of Americans are either unemployed, under-employed, or on food stamps, according to a new report from the nonprofit Economic Policy Institute.
The study also found that while the economy was growing at a faster rate during the Great Recession than it has in years, it is not as strong as it was during the previous two recessions.
The report was released just a few days after President Donald Trump made his first national address to Congress, calling for a $1 trillion infrastructure bill.
The Hill’s David French reports.
The Trump administration has made infrastructure one of its top priorities in its first 100 days, promising to build at least $1.6 trillion over the next decade.
The president also has vowed to cut $5 trillion from defense spending, and has vowed not to make “tough decisions” on national security.
The president’s economic agenda is not new.
He has repeatedly touted his economic record in the 2016 presidential campaign, saying he would bring back manufacturing jobs, expand apprenticeships, create jobs and build infrastructure.
In an address on March 15, Trump outlined his plans for infrastructure.
“The future is not a factory, not a mine, not an oil refinery, it’s a place where you can live, work and play,” Trump said.
“I’m telling you, it will be a place that’s so clean and beautiful, so clean you won’t believe it.”
The EPI report also found significant increases in the number of Americans living in poverty, with nearly 2.5 million people living in households with income below the federal poverty level, or $15,960 for a family of four.
The EPRI report found that since 2010, the number in poverty has dropped by a whopping 1.7 million, from 8 million to 6.5,000.
The report also noted that the number who were living in substandard housing increased by 1.2 million, to nearly 3 million.
The poverty rate for white people dropped by more than 2 percentage points since 2010 to 29.6%.
The EPPI report also reported that the share of Americans who lived in households that were at or below the poverty line rose from 17% in 2010 to 24% in 2020.
That means nearly 8 million Americans now live in poverty.
The White House has said that Trump’s proposed $1,000 per person tax credit will help the poorest Americans pay for their own food and utilities, while also helping them find jobs.
The EPI study found that the tax credit, which was introduced in January, has raised only $100 million.
“We’re not going to have a trillion dollars in the infrastructure bank,” the president said in a speech in February.
“We’ll have billions.”