Sixty-two years and $22 trillion later, the U.S. poverty rate sits at roughly 11 percent, almost identical to where Lyndon Johnson found it in 1964. The government ran the most expensive social experiment in human history and produced nothing measurable. Bureaucracies perpetuate themselves, and this policy worked exactly as designed.
When Washington transfers purchasing power to the poor through SNAP, Medicaid, housing vouchers, and 126 other overlapping programs, it doesn't eliminate scarcity; it relocates decision-making from individuals to administrators. Those administrators develop career interests in perpetuating dependency, because a solved problem eliminates their department.
Free market thinkers identified this perverse incentive structure before Johnson signed the Economic Opportunity Act. Every dollar taxed from productive activity carries a deadweight cost before it reaches anyone's dinner table.
Capital formation lifts people out of poverty. You build wealth through savings, property rights, and voluntary exchange, none of which $22 trillion in redistributed spending actually produced.
This loss reminds me more about 1996 opener vs UNC than 08 Bama. No players and the wrong Coordinator hires. I knew Saban would destroy Bowden, and never believed in Cullen Harper. Wests teams might even whip this one in the trenches.
We will miss seeing this report from my friend Bruce after his many years of penmanship.
The Economic Situation: September 2026 | Mercatus Center https://t.co/ecxwLLIaKi
@Spartanburgers_
Excited to be here tonight hopefully to watch Tom House throw out the first pitch. As a pitcher for the Braves, he caught Hank Aaron’s record breaking home run in the bullpen as Babe Ruth’s record fell. He ran to home plate to deliver Hank the ball.
Unfortunately, due to weather in the area, our game 6/27 has been delayed. First pitch is TBD⚾️ We are hoping to find a gap in the weather to get the tarp off and play some burger ball tonight ‼️
@Spartanburgers_
Excited to be here tonight hopefully to watch Tom House throw out the first pitch. As a pitcher for the Braves, he caught Hank Aaron’s record breaking home run in the bullpen as Bane Ruth’s record fell. He ran to home plate to deliver Hank the ball.
I’ve had a lot special moments at Clemson but this one is at the top of the list. @_BlazeWatson_ and I went up 2,000 feet in a helicopter to get this shot. Something we’ll never forget. 🐅🎥
@TheClemsonHouse Time for the annual I love you Dabo statement or I’m going somewhere else. If he needs validation, I’ll be happy to give it. He is without a doubt the MVP of Clemson - all of Clemson. His honesty, as exhibited lately is refreshing. Go to work and fix it and all will be good.
China overnight published May trade data. Its direct exports to the US are down sharply (top left, black line), but its exports to all kinds of places across Asia are up massively. These are obviously transshipments to the US via 3rd countries. Thailand and Vietnam look bonkers.