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Chicago Fed Letter, No. 232, November 2006
Community Development Spending, 1981–2004
Community development spending is an important component of the U.S. public welfare system, directly affecting the lives of many who live in the United States. Nearly nine million low-income individuals live in housing subsidized by the U.S. Department of Housing and Urban Development (HUD). Total federal spending on community development exceeded $45 billion in 2004—approximately $155 for each person living in the United States.
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