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The Hamilton Project seeks to advance America's promise of opportunity, prosperity, and growth. The Project's economic strategy reflects a judgment that long-term prosperity is best achieved by fostering economic growth and broad participation in that growth, by enhancing individual economic security, and by embracing a role for effective government in making needed public investments. We believe that today's increasingly competitive global economy requires public policy ideas commensurate with the challenges of the 21st Century. Our strategy calls for combining increased public investments in key growth-enhancing areas, a secure social safety net, and fiscal discipline. In that framework, the Project puts forward innovative proposals from leading economic thinkers-based on credible evidence and experience, not ideology or doctrine to introduce new and effective policy options into the national debate.

This Hamilton Project policy paper provides a dozen facts on struggling lower-middle-class families focusing on two key challenges: food insecurity, and the low return to work for struggling lower-middle-class families who lose tax and transfer benefits as their earnings increase. These facts highlight the critical role of federal tax and transfer programs in providing income support to families struggling to remain out of poverty.

Poverty is about a lack of money, but it's not only about that. As a lived experience, poverty is also characterized by ill health, insecurity, discomfort, isolation, and more. To put it another way: Poverty is multidimensional, and its dimensions often cluster together to intensify the negative effects of being poor.

During a panel discussion at The Economist's World in 2012 festival, former U.S. Treasury secretary Robert Rubin, Morgan Stanley CFO Ruth Porat and Brookings Institute fellow Eswar Prasad agreed that 2012 would be the year that defines the path that the U.S., European Union and emerging economies for the next decade.

The highest rates of multidimensional poverty are found in Southern and Western metro areas like Memphis, Birmingham, and Miami, where more than 1 in 5 low-income adults live with multiple disadvantages. The McAllen region exhibits the highest rate of multidimensional poverty overall (41 percent), followed by metropolitan Fresno, where one-third of adults are at least doubly disadvantaged. In each of the regions mentioned, living in a poor area is the most likely additional disadvantage experienced by low-income residents. But in other metro areas with above-average multidimensional poverty rates, different disadvantages come to the fore, like limited education in Stockton, lack of health insurance in Deltona, and lack of employment in Lakeland (see the interactive bar charts below, or the full appendix tables).

"In a new report, I reinforce what the goal of economic development should be, as summarized by decades of academic literature: to put a region on a path to higher growth by improving the productivity of firms and people in ways that leads to better incomes and living standards for all."

The fundamental question revolves around what interest rate to use to calculate the cost in today's dollars of the government's future receipts. The government makes loans today and receives interest payments and principal repayments over a period of as much as thirty years. The only way to make a fair comparison between different loan programs, or between a grant program and a subsidized loan program, is to calculate the cost in today's dollars.

Cities and metros are working to restructure the economy away from tantalizing illusion (endless consumption and irresponsible speculation) and back toward hard fundamentals: talent-fueled production and innovation. For a nation undergoing profound demographic transformation, the metropolitan model of education and social integration provides a path toward managing growth and diversity in a way benefits everyone. Cities and metros understand what the nation fitfully remembers and often contests: The United States is demographically blessed and this is our greatest competitive advantage and strength