by Joel McDurmon on Jun 25, 2012
CNSNews.com reports,

The government is not making much headway reducing poverty despite spending hundreds of billions of dollars, according to a study by the libertarian Cato Institute.

Despite an unprecedented increase in federal anti-poverty spending the national poverty rate has not declined, it finds.

“[S]ince President Obama took office, federal welfare spending has increased by 41 percent, more than $193 billion per year.” the study says.

Federal welfare spending this year now totals $668 billion, spread out over 126 programs, while the poverty rate that remains stubbornly high at nearly 15 percent – roughly where it was in 1965, when President Johnson declared a federal War on Poverty