Poverty. Why don’t we end it once and for all?
The assumption is that we can’t afford to. Are we sure? What would it cost exactly? Answer: about $16 billion a year in today’s dollars. Big money. Yet nowhere near as much as it is costing us now to keep it going.
In total, governments spent $13 billion in welfare payments in 2009, the last year for which numbers are available. Say $15 billion in today’s dollars. Those on EI who are classified as poor account for another $3 billion a year or so. Now add the costs of administration — about $4 billion. All to keep the wheels of the system turning. And turn they do, without end, and without ending poverty.