…Recent studies suggest that the War on Poverty did help to reduce the worst deprivations of material poverty, especially in its early years. However, the welfare state it spawned has long since reached a point of diminishing returns. In recent years, we have spent more and more money on more and more programs, while realizing few, if any, additional gains. More important, the War on Poverty has failed to make the poor independent or increase economic mobility among the poor and their children. We may have reduced the discomfort of poverty, but we have failed to truly lift people out of poverty.

via Less Welfare, More Charity | Cato Institute.