This document presents a transcript of a Joint Subcommittee on Monetary and Fiscal Policy hearing on the impact of the Federal "War on Poverty" programs. Testimony and submissions for the record included: (1) a paper by Lowell Gallaway et al., "The 'New' Structural Poverty: A Quantitative Analysis," which examines the effects of transfer programs on the poverty rate and argues that increases in transfer income have led to a new kind of poverty that is entered into by choice; (2) a paper by Peter Gottschalk, "The Successes and Limitations of the War on Poverty and the Great Society Programs," which argues that the poverty programs' outcomes have been mixed; (3) a statement by Robert Greenstein, which disputes the claim that the programs have backfired, contends that some poverty is caused by declines in the economy and in real wages, and calls for new efforts to create jobs, reduce tax burdens on the poor, and toughen child support collection; and (4) a paper by Charles Murray, which argues that many factors in society and social policy affect the poverty rate and describes the interaction of some of these factors. (KH)