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For context, the US has 330M people. So $1k per person is a $330B expense. The Fed, which has no legislative oversight on this kind of thing, lowered interest
by neltnerb 7y ago
For context, the US has 330M people. So $1k per person is a $330B expense.
The Fed, which has no legislative oversight on this kind of thing, lowered interest rates to 0% and is buying $700B of treasuries to stabilize the banks. So you know, only twice that much authorized to make things marginally better for banks and the stock market.
So I think maybe pretend that it was actually $2k per person. Other than losing your job this seems like a reasonable amount to hunker down and not eat out or go to events for 6 weeks. But if you lose your job long term... I think the effect is going to be much longer than a few weeks of people working from home.
- NeutronStar 7y agoIt should be a monthly payment. This single 1k cash handout is a joke. The gov announced over $2T worth of measures to help the "economy", average Joe is about to get less than 1/6th the amount.
- jhawk28 7y agoIt is $1k per adult which would be $253B. Families would get $2k...unless you are in Utah.