All articles tagged with #safety net
SoftBank CEO Masayoshi Son has been selling off assets to support the struggling conglomerate, including shares in Alibaba and T-Mobile, as the company faces financial challenges due to the underperformance of its Vision Fund and the impact of the COVID-19 pandemic.
President Joe Biden's efforts to expand the U.S. safety net and combat poverty are facing challenges as enhanced federal benefits expire, causing a spike in the poverty rate. The poverty rate for children has more than doubled from the previous year. Despite initial success in reducing poverty during the pandemic, rising inflation and political opposition have led to the abandonment of plans to permanently enlarge the social safety net. Low-income Americans are worse off financially, and landmark progress in lifting children out of poverty is slowing. The situation poses a challenge for Biden's re-election campaign centered on economic revival, as voters feel they haven't caught up financially. The White House blames Republican opposition for the expiration of programs, while Republicans argue that Biden's actions have driven up prices.