By Seema Jayachandran, The New York Times, July 10, 2020
As tax revenues shrink and emergency spending to address the pandemic increases, governments are facing tough budget decisions.
Social programs that alleviate poverty and enrich the lives of millions of people are coming under pressure. But a new study suggests that even if fiscal prudence were the only consideration, officials taking a long view should think twice before cutting social programs, because many of them ultimately turn a profit for taxpayers.
The study, by two Harvard economists, found that many programs — especially those focused on children and young adults — made money for taxpayers, when all costs and benefits were factored in.
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