Anchor Ray Suarez interviews Linda Gibbs, Deputy Mayor of New York, where Mayor Michael Bloomberg is one of the most high-profile backers of the “Family Rewards” program. Gibbs talks about how changing behavior may help to lift young people out of poverty.
In March 2007, New York City Mayor Michael R. Bloomberg announced his intention to test a set of antipoverty initiatives, called Opportunity NYC, which would use temporary cash payments to poor families to boost their income in the short term, while building their capacity to avoid longer-term and second-generation poverty.
Gibbs answers a question from the Need to Know web community: 65% of the families in this country are liquid asset poor. They don’t have a financial cushion in a crisis. What evidence do you have that this program promotes savings?