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Most people need that salary to survive due to fixed obligations: mortgages, rents, credit card debt, car leases, etc. That's what we need to pause. Beyond tha
by wegs 7y ago
Most people need that salary to survive due to fixed obligations: mortgages, rents, credit card debt, car leases, etc. That's what we need to pause.
Beyond that, you have discretionary spending, which can be cut.
And finally, you have essentials: food, medicine, and similar. That's a tiny, tiny fraction. That's what we need to bail out.
Yes, there will be long-term consequences of lost production, which will shrink our economy a little bit. But that's fundamentally different from debt defaults, bankruptcies, and evictions. Hitting a pause button avoids all of that.