The new report calls the nation's current child care system 'unworkable.'
Understanding how we got to this point requires knowing where we came from. If things are now broken, were they ever whole to start with? According to the report? No, not really.
As Treasury Secretary, Yellen holds one of the most important offices in the country. It's one of global, generational significance, and she says she was able to make it to this point due, in part, to snagging a great baby-sitter 40 years ago. In her following the speech made by Harris, Yellen acknowledged the fact that her successful child care situation wasn't the norm then—and certainly isn't now.
Her department’s report opens with a look at the first part of that equation—in basic economic terms: the supply side of the child care system. Overall, and in the most simplistic of terms, that supply is extremely low and, depending on where you live, can be virtually, or even literally, nonexistent. According to the report, roughly one-half of Americans live in"child care deserts," or areas with one daycare spot for every three children in need of care.
Meanwhile, on the demand side of things, parents are in need of child care when they can least afford it—when they are young, when take-home wages are generally low. If they can find it, it's going to be costly. According to the report, the average family with at least one child under age five would need to devote 13 percent of the family's income to child care. That far outweighs the seven percent the U.S. Department of Health and Human Services considers affordable for most.
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