This is a fallacy because it's not the same people homeless each year. There's substantial turnover in the homeless population.
"Replace services with direct transfers" would eliminate homelessness for 1 year. Then new people would become homeless, and you'd have no services, because your budget is already committed to the "year 1 homeless-cohort."
The money spent grows quadratically (not linearly) over time.
"Replace services with direct transfers" would eliminate homelessness for 1 year. Then new people would become homeless, and you'd have no services, because your budget is already committed to the "year 1 homeless-cohort."
The money spent grows quadratically (not linearly) over time.