In The Negro Family: The Case for National Action, published in 1965, Daniel Patrick Moynihan famously argued that the fundamental obstacle to racial equality was the instability of Black families, and especially the prevalence of single-mother families. That same year, he predicted that the spread of single-parent families would result not only in rising poverty and inequality but also in soaring rates of crime and violence. Half a century later, we report that the changes in family structure that concerned him have continued, becoming widespread among Whites as well, but that they do not explain recent trends in poverty and inequality. In fact, a number of the social ills Moynihan assumed would accompany these changes have actually decreased.